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PayneElementary School
Eliot-hineMiddle School
Eastern SeniorHigh School
Description
**Brand new construction** Only 5-Units Remain + Rooftop Decks + 2 parking. Condo Conversion project in Capitol Hill East. Buy individually or All 4 Units (#1, #5, #6, #PH7 + parking). Units #2, #3, #4, and PH8 are SOLD.
Note: PH7 is Available (with Rooftop Deck - 3BR/3BA 2 Level Units, 1 parking)
Neighborhood: Capitol Hill East
TOPA FREE
256 15th Street SE will be delivered unoccupied following the completion of brand-new construction. Due to its vacancy status the transaction will not be subject to the Tenant Opportunity to Purchase Act (TOPA) and the inefficiencies the Act imposes on closing times for 1031’s, construction planning and financing timelines.
NO RENT CONTROL
Being that the building is brand new construction, this asset will not be subject to D.C.’s rent control laws and ownership will effectively be able to adjust their rents to the market with ease.
BRAND-NEW CONSTRUCTION
Upon the delivery of the building, new ownership can expect only the highest quality of finishes in every apartment. From all-white quartz counter tops, brand new appliances, and two-level three-bedroom units, this asset will be one of the most desirable places to live in the entire area. Ownership can also expect their expense exposure to be extremely limited, with all utilities separately metered (aside from water).
STRENGTH OF RENTAL & FOR-SALE MARKET
Capitol Hill continues to be one of Washington, D.C.’s most desirable neighborhoods to rent or own an apartment with demand outpacing supply. Asking rents for newly delivered properties have surpassed $4 per square foot while for-sale product is achieving pricing nearing $1,000 per square foot.
EASE OF TRANSPORTATION
256 15th Street SE has an “Excellent” Transit Score and is considered a “Biker’s Paradise” with a Bike Score of 93. The Property is a short walk to a number of Metrobus stops, and is just a nine-minute walk from the Blue, Orange, and Silver line metro stops, providing direct access to areas of D.C. and Northern Virginia, making this an ideal location for all working professionals that wish to live in a premier area of D.C.
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 25th March, 2023 10:10 AM (UTC)