$ 850,000
1216 RAUM ST NE Washington, DC 20002
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$ 850,000
Est. payment /mo
Price Dropped by $150K
1216 RAUM ST NE Washington, DC 20002
8,260 SqFt
UPDATED:
10/28/2024 07:31 PM
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,260 sqft
Price per Sqft $102
MLS Listing ID DCDC2150192
Style Other
Abv Grd Liv Area 8,260
Originating Board BRIGHT
Year Built 1936
Annual Tax Amount $1,130
Tax Year 2004
Lot Size 3,485 Sqft
Acres 0.08
Property Description
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.
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.
Location
State DC
County Washington
Zoning R4
Rooms
Basement Connecting Stairway, Other
Interior
Hot Water Other
Heating Other
Cooling Other
Fireplace N
Heat Source Other
Exterior
Waterfront N
Water Access N
Accessibility Other
Parking Type Other
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 4052//0849
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
Listed by David H Park • TTR Sotheby's International Realty
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