UPDATED:
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Under Contract
Purchase Type For Sale
Square Footage 4,723 sqft
Price per Sqft $358
Subdivision Shaw
MLS Listing ID DCDC2196744
Style Bi-level,Loft
Abv Grd Liv Area 4,723
Year Built 2019
Annual Tax Amount $1,962,590
Tax Year 2024
Lot Size 1,800 Sqft
Acres 0.04
Property Sub-Type Detached
Source BRIGHT
Property Description
Positioned on a 0.04-acre parcel and zoned RF-1, The Hermosa offers investors the rare opportunity to acquire a low-maintenance, stabilized asset delivering a Year 1 Cap Rate of 7.61%. This is achievable with rent increases of approximately 15%. Priced approximately 35% below market, on a price per square foot basis, this opportunity should be considered by both investors and owner-users.
The building is separately metered for electricity and features in-unit washer/dryers, water bill-back structured leases, and energy-efficient HVAC systems with no Capital Improvement needs in the near future.
Centrally located less than one mile from the NoMa and Shaw Metro stations and within close proximity to Logan Circle, U Street, and Bloomingdale, 84 P Street NW sits at the convergence of several of D.C.'s most vibrant and rapidly appreciating neighborhoods. The surrounding submarket benefits from a young professional tenant base, a growing restaurant and retail corridor, and excellent access to major employment centers.
With an average household income exceeding $110,000 and homeownership rates well below the national average, Washington, D.C. remains a top-performing rental market with resilient demand fundamentals. The Hermosa's strong in-place cash flow, modern design, and premier location make it a compelling opportunity for investors seeking stable returns and long-term appreciation in the heart of the nation's capital.
Location
State DC
County Washington
Zoning RF-1
Interior
Hot Water Multi-tank, 60+ Gallon Tank, Tankless
Heating Central
Cooling Central A/C, Programmable Thermostat
Heat Source Electric
Exterior
Garage Spaces 2.0
Utilities Available Electric Available, Water Available, Sewer Available
Water Access N
Accessibility 2+ Access Exits
Total Parking Spaces 2
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Bi-level, Loft
Additional Building Above Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 0616//0120
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing FHA, Conventional, Cash, Exchange, VA
Listing Terms FHA, Conventional, Cash, Exchange, VA
Financing FHA,Conventional,Cash,Exchange,VA
Special Listing Condition Standard
"Simone's passion for real estate and her love for "The DMV" are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in DC, Maryland and Virginia. "
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