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Marcus & Millichap Facilitates Sale of Multifamily Property in Northeast DC
Marcus & Millichap has successfully arranged the sale of a 14-unit multifamily property located in the Trinidad neighborhood of Northeast Washington, D.C. The property was sold for $3.95 million.
“This transaction closed at an 8.25% cap rate, underscoring both the strength of the market and the value of our team’s execution,” said Lorenzo Wooten, CCIM, Senior Director of Investments at Marcus & Millichap’s Washington, D.C. office. Wooten represented the seller, 1810 I Street Development LLC.
The three-story building, located at 1810 I Street NE, was constructed in 2023 and encompasses approximately 10,568 square feet. Currently 90% leased, the property features a mix of one- and two-bedroom units, including two penthouse suites. Each unit offers modern finishes, updated kitchens and bathrooms, luxury vinyl flooring, a green roof, and rear decks with views of the U.S. Capitol.
Ideally situated less than two miles from Union Station and Capitol Hill, the building is also within walking distance of the H Street Corridor’s vibrant restaurants, retail shops, and entertainment venues.
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