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Additional details
Listed by Natalie E Hasny • Capital Residential Properties
$27,500,000
Est. payment /mo
9,400 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID DCDC2202348
Year Built 2024
Annual Tax Amount $18,424
Tax Year 2024
Lot Size 9,400 Sqft
Acres 0.22
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
1324 North Capitol Street NW is a newly constructed 67-unit luxury multi-family building (completed in 2024) currently operating as a fully furnished, high-performing short-term rental under the “Reside, a Wyndham Residence” brand. The property is Zoned MU-5A and can be transferred as a fully stabilized asset or vacant. TOPA does not apply. This asset offers maximum optionality in terms of future use including continued hospitality use under Wyndham (or other Short-Term Rental operator), a traditional multi-family property, a corporate housing asset (includes all FF&E) or converted and sold as luxury condominiums.
The property conveys turnkey with condo-level finishes, fully furnished units (FF&E included) and rental revenue, all of which provide a built-in cash flow. This asset is ideal for a family office investment, institutional buyers, 1031 exchange investors, and foreign capital seeking proven results in a Washington DC location, flexibility of use, and long-term upside.
The property conveys turnkey with condo-level finishes, fully furnished units (FF&E included) and rental revenue, all of which provide a built-in cash flow. This asset is ideal for a family office investment, institutional buyers, 1031 exchange investors, and foreign capital seeking proven results in a Washington DC location, flexibility of use, and long-term upside.
Location
State DC
County Washington
Zoning MU-5A
Interior
Hot Water Natural Gas
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 9.0
Water Access N
Accessibility Elevator
Total Parking Spaces 9
Garage N
Building
Sewer Public Septic
Water Public
New Construction Y
Schools
School District District Of Columbia Public Schools
Others
Tax ID 0617//0243
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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