2406, 2408, 2410 18th St NW

Washington, DC 20009 View Map $6,500,000 Schedule a Tour
Sq.Ft.11,920
Year1900
Kevin Koitz

Kevin Koitz

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2406, 2408, 2410 18th St NW in  Adams Morgan, Washington DC, 20009
Status: Active
Property Type:Commercial
MLS #:DCDC2079816
Sq. Feet:11,920
On Site:22 Days
Lot Size:0.09 Acres
FOR SALE - On Behalf of the Chapter 11 Bankruptcy Trustee - Excellent investment opportunity to purchase three adjacent three-story, mixed-use buildings in Adams Morgan! This outstanding location fronts directly to 18th Street among a wide variety of restaurants, bars, and retail shops! The property consists of three fully leased retail spaces at street level and six residential apartments on the second and third floors. The retail spaces offer window frontage to 18th Street and range between 1,900 and 2,100 square feet. The residential unit mix is comprised of three 2-bedroom units (average 900 sq ft each) and three 3-bedroom units (average 1,050 sq ft each). All three buildings are offered for sale together as a single portfolio and not individually. In total, the buildings contain 14,614 square feet according to the tax records, with 11,920 square feet of usable building area on a 4,113 sq ft parcel.

While four of the residential units are occupied, the two vacant residential units are nearly "rent ready". The scheduled commercial rent exceeds $22,700/month plus expenses and the scheduled residential rent exceeds $19,500/month, bringing the annual potential income to approximately $510,000.

The location is within walking distance of Kalorama Park, with the larger Walter Pierce Park and Meridian Hill Parks just a few blocks further away. There's multifamily across the street and elsewhere in the neighborhood. Neighboring businesses include Capital Blossom Day Spa, The Game sports pub, Rise Bakery, Mediterranean Spot, Amsterdam Falafel, Los Cuates Cantina, Isshin Asian Bistro, and many more.

The property is situated in a MU-5A zone. The MU-5 zones are intended for medium-density, compact mixed-use development with an emphasis on residential uses, and to provide facilities for shopping and business needs, housing, and mixed-uses for large segments of the District of Columbia outside of the central core. The land uses in the MU-5A zone permits multifamily, office, retail, and arts uses as of right, and are typically located on arterial streets, in uptown and regional centers, and at rapid transit stops.

Adams Morgan is a "Walker's Paradise" with a Walk Score of 98 and is home to 18th Street, best known for its bars, restaurants, and retailers lining the pedestrian-friendly street. Bordered by Dupont Circle to the south, Mt. Pleasant to the north, and Rock Creek Park to the west, this neighborhood is known for its active scene. Adams Morgan also offers many quiet side streets filled with townhomes, rowhouses, condos, and apartment buildings. Public transportation is plentiful, with two nearby metro stops (Woodley Park-Zoo/Adams Morgan and Dupont Circle stations on the Red Lines) and several WMATA Metrobus lines running through the neighborhood. Elevated demand for apartments, combined with the vacancy rate hitting a historic low, created record-breaking rent growth in 2021. Proximity to work, school, public transportation, and nightlife entertainment have long made Adams Morgan one of the most popular renter submarkets in the District of Columbia.

All sales are subject to US Bankruptcy Court approval.

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Community Information

Address:2406, 2408, 2410 18th St NW, Washington, DC 20009
Subdivision:Adams Morgan
Zip Code:20009

Features / Amenities

Cooling: Ceiling Fan(s), Central A/C
Cooling Fuel: Electric
Heating: Baseboard - Hot Water
Heating Fuel: Electric
Hot Water: Electric

Property Features

Lot Size: 0.09 Acres
View: City, Street
TV/Cable/Com: Electric Available, Cable TV, Natural Gas Available, Sewer Available, Water Available
Sewer: Public Sewer
Water: Public
Transportation: Airport less than 10 miles, Bus Stop less than 1 mile, Metro/Subway Station less than 1 mile
Zoning:MU-5A
Directions:In Adams Morgan on 18th St., north of Florida Ave NW and south of Columbia Rd NW.

Tax and Financial Info

Total Taxes: $61,930 (paid Annually)
Tax Year: 2022
Ownership Type: Fee Simple
Homeowners' Assoc.: No
City Tax Rate: $61,930.00 (Annually)
Acceptable Financing: Cash, Conventional

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2406, 2408, 2410 18th St NW Washington,  DC 20009
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2406, 2408, 2410 18th St NW Washington, DC 20009
 
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Listing Information Last Updated 1/30/2023
Listing provided courtesy of Century 21 Commercial New Millennium (703-858-2770).
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program. Real estate listings held by IDX Brokerage firms other than Compass are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. This information is provided exclusively for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The Broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Information deemed reliable but is not guaranteed.