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Key Details
Sold Price $3,000,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 8,360 sqft
Price per Sqft $358
Subdivision Capitol Hill
MLS Listing ID DCDC2130534
Sold Date 06/14/24
Originating Board BRIGHT
Year Built 1878
Tax Year 2022
Lot Size 2,470 Sqft
Acres 0.06
Property Description
We are pleased to present 311 East Capitol Street, SE, a four-level, 13-unit property in RF-1/CAP Zoning. The current configuration, layout, and condition offer an investor myriad options to reposition the asset in the marketplace. The property is nestled on one of the most coveted blocks on Capitol Hill, as it is situated a stone’s throw from the United States Capitol, both the Senate and House of Representative Office Buildings (Hart, Russell and Dirksen, and Cannon, Longworth and Rayburn), The Folger Shakespeare Library, The Supreme Court, The Library of Congress, countless association headquarters, and vast restaurant and retail options. As a TOPA free asset, the property presents investors with an immediate opportunity to acquire a grandfathered-use, multi-family property for occupancy upon acquisition, redevelopment as a mid-level or luxury rental, or a condominium project. A present estimate of HCVP Rents for the current configuration, if fully leased is $31,930/mo (estimated). A preliminary zoning opinion (available upon request) has confirmed that the unit make-up could be modified to decrease density.
Location
State DC
County Washington
Zoning RF-1/CAP
Interior
Hot Water Natural Gas
Heating Baseboard - Electric, Radiator, Forced Air
Cooling Window Unit(s), Central A/C
Equipment None
Heat Source Natural Gas, Electric
Exterior
Utilities Available Electric Available, Natural Gas Available, Sewer Available, Water Available
Waterfront N
Water Access N
View City, Street, Other
Roof Type Flat,Built-Up,Asphalt
Accessibility None
Parking Type None
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 0787//0814
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, Bank Portfolio, Private, Other, FNMA, FHLMC
Listing Terms Cash, Conventional, Bank Portfolio, Private, Other, FNMA, FHLMC
Financing Cash,Conventional,Bank Portfolio,Private,Other,FNMA,FHLMC
Special Listing Condition Standard
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Bought with Tim Barley • Barley & Barley Real Estate
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