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1308 Gallaudet1308 Gallaudet Street NE | Washington, D.C.
OFFERING MEMORANDUM
Rapidly Developing SubmarketThe Property is located in the rapidly-developing Ivy City neighborhood. Hecht Warehouse was the catalyst for this development; redevelopment of the Crummell School is expected to begin soon, eventually delivering several hundred thousand square feet of residential and commercial space.
Self-Contained UnitsEach unit is individually metered for electricity and natural gas. With individual heating, cooling, and domestic hot water systems, the owner’s only utility responsibility is water/sewer.
Renovated Unit InteriorsMany of the units have been modernized including upgrades to kitchen and bathroom interiors. However, there is still room for the investor seeking opportunity to add their own value.
Hot SubmarketTake this opportunity to acquire a multifamily property in Ivy City, a sought-after neighborhood located between the rapidly developing Union Market, Trinidad, and Rhode Island Avenue Corridor submarkets.
1. This rent survey was completed in July 2018.2. Utility-adjusted rent is based on HUD-prescribed values for the various utilities residents pay for. HUD tables may be provided upon request.3. Survey Average excludes the Subject Property.4. Subject Property reflects in-place rents.
1. This rent survey was completed in July 2018.2. Utility-adjusted rent is based on HUD-prescribed values for the various utilities residents pay for. HUD tables may be provided upon request.3. Survey Average excludes the Subject Property.4. Subject Property reflects in-place rents.
For more information or to inquire about Greysteel, please contact Ari Firoozabadi, President & CEO ([email protected] | 202.417.3873)
Greysteel, seller, and their respective representatives make no representations or warranties, express or implied, regarding the accuracy or completeness of the information in this Offering Summary. Prospective purchasers shall be responsible for performing their own independent due diligence with respect to a possible transaction. This offering is subject to prior placement, withdrawal, cancellation or modification without notice. All references to acreage, square footage, and other measurements are approximations and must be independently verified.
7735 Old Georgetown Road • Suite 301 • Bethesda, MD 20814 202.280.2722 • www.greysteel.com
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