$4,550,000

1123 11th St NW

WASHINGTON DC, 20001

Description

Visit 1123eleven project website in tour link for further details. Rare opportunity to purchase a 7-unit building in the heart of the city (trophy location). Located at the intersection of Washingtons Downtown, Logan Circle, Shaw, and Mt. Vernon Square neighborhoods. Historic Victorian architecture meets modern design. Originally constructed in 1900 and redeveloped in 2008 with approximately 11,500 Sq.Ft. of gross building area over six floors, including a two-story penthouse addition with multiple outside terraces. Registered as a condominium and currently configured as 7 contemporary rental apartments. Developed by TDG; design by Norman Smith Architecture. D-1-R Zoning permits limited commercial use on or below the ground floor. Maximum allowable FAR 6; as-built FAR 3.7. Maximum allowable height: 90 ft. (plus a 20 ft. penthouse); as-built height: ~60 ft. (not including ~8.5 ft. mechanical penthouse). Cap Rate: ~6.86% (Pro Forma, Mixed-use tenancy), Pro Forma Gross Operating Income Residential/Commercial: ~$360,000, Pro Forma Operating Expenses Residential/Commercial: ~$48,000. Cap Rate: ~5.56% (Pro Forma, 100% Residential), Pro Forma Gross Operating Income All Residential ~$300,000, Pro Forma Operating Expenses: ~$48,000 Residential. Actual Gross Operating Income 2018: ~$334,000 (100% Residential), Actual Gross Operating Income 2017: ~$330,000 (100% Residential), Photos current as of April 2019. Disclaimer: The statements contained herein do not form any part of any offer or contract and are issued without responsibility on the part of Washingtopia Real Estate Llc. or its clients. All descriptions, dimensions, and necessary permissions for use and occupation or any other details including financial figures and projections are given in good faith and are believed to be credible, but are not to be relied upon as statements or representations of fact; any intending purchaser must satisfy themselves as to the correctness of each statement made.

Details

MLS#DCDC423990
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1900
Days On Site399

Features

SQ Feet11,500
Story(s)0
Units7
ZoningD-1-R

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Area Information

StateDC
CityWASHINGTON
Zip Code20001
Listing VS Median (in 20001)
Price:
$4,550,000
low | high
Med:
$659,000
100% of Average
SqFt:
11,500
low | high
Med:
856
100% of Average
$ / SqFt:
$396
low | high
Med:
$770
44.579952757523% of Average
On Site:
399
low | high
Med:
0
Listing Updated: 05/29/2020
MLS Number: DCDC423990
Listing Provided By:
Victor Brown  of  Washingtopia Real Estate LLC.
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