HouseWashington (United States)

Price :

$1,000,000

USD

Euro € EURAmerican Dollar ($ USD)British Pound (£ GBP)

land324 m²

The Centurion Group is delighted to exclusively represent the owner of the charming property located at 1216 Raum Street NE, Washington, DC 20002. Nestled in the vibrant Trinidad area of Northeast DC, this gem sits on a .08-acre lot, offering a blend of community feel and city convenience.
Perfect for either a hands-on User or a forward-thinking Investor, 1216 Raum Street NE presents a unique opportunity to transform a 3,900 SF building into a pre-permitted, modern 3-level, 4-unit apartment complex encompassing a total of 8,340 SF. This includes two cozy lower units of 1060 SF each, featuring 2 bedrooms and 2 bathrooms. The mid-level units, each 1375 SF, offer spacious 3-bedroom, 2-bathroom layouts, while the top-floor units expand to 1735 SF each, boasting 4 bedrooms and 2.5 bathrooms. Upon stabilization, investors can look forward to an attractive approximate 6.5% CAP rate, even after considering construction costs exceeding 800k.
Strategically located along the H-Street/Benning Road corridor, affectionately known as Downtown Ward 7, the area is currently witnessing an exciting wave of mixed-use development. With Gallaudet University nearby, home to a vibrant community of hearing-impaired students and faculty, Trinidad enjoys a steady demand for residential space. The proximity to the bustling H Street corridor, with its array of shopping and dining options directly connected to Union Station by the DC Street Car, offers unparalleled convenience for both government and private sector employees seeking a short commute to downtown DC, Union Station, and Capitol Hill. Moreover, this neighborhood is a hub for significant employers, including Pepco, DC’s Department of Employment Services, and Unity Health Care, enhancing its appeal through public and private investments that are breathing new life into the area for small businesses.
Just a stone's throw away from Union Market and the major retail offerings on the H Street corridor, 1216 Raum Street NE also benefits from the District Department of Transportation (DDOT)'s ongoing Benning Road Bridge and Transportation Improvement project. This initiative aims to enhance Benning Road NE by extending the DC streetcar route to Georgetown, adding bike lanes, and improving walkability, promising an even brighter future for residents and businesses alike.