513 Kennedy Street NW
Washington, D.C. 20011
The Offering
Summary
- List Price $900,000
- Product Type Multifamily Development
- Proposed GBA 11,721 SF
- Price Per Entitled FAR SF $76.79
- Number of Proposed Units 10
- Proposed Unit Mix 2 - 1BR/1BA, 6 - 2BR/1BA, 2 - 4BR/2.5BA
- Proposed IZ Units 1
- Proposed IZ Unit Type 1 - 2BR/1BA
Investment Summary
Feldman Ruel is pleased to offer for sale 513 Kennedy Street NW, a 10-unit multifamily development site located in an Opportunity Zone. At closing, ownership will convey all approved plans and permits, allowing the purchaser to start construction immediately.
Investment Highlights
• Shovel-Ready at Closing | $146,000+ in Pre-Development Costs Completed
• 11,721 Gross Buildable SF Across 4 Levels + Cellar & Penthouse
• Unit Mix of 2 - 1BR/1BA, 6 - 2BR/1BA, 2 - 4BR/2.5BA
• Raze & Underpinning Work Completed which will Mitigate Carrying Costs
• High-Demand Condominium Market | Recent Outsales Exceeding $600 Per SF
• Located in an Opportunity Zone which Offers Tax Benefits to Investors Developing Ground-Up Projects
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