Feldman Ruel has completed the sale of 1715 and 1717 19th Street NW, two contiguous eight-unit multifamily buildings in Dupont Circle, Washington, D.C.
The two properties traded for a total sale price of $4.7 million or $293,750 per unit. 1715 19th Street NW sold for $2.45 million in an all-cash transaction and 1717 19th Street NW sold for $2.25 million.
Alex Petrov and Chris Chadwick of Feldman Ruel represented the seller in the transactions. The two properties had been owned and managed by Tom and William Beckett who are the grandchildren of the original purchaser, Edgar Beckett, who acquired the properties in 1961.
The buyer, local investor Wayne Ma, was attracted to the assets due to the rental demand and overall strength of the Dupont Circle neighborhood. Ma plans to utilize the properties as short-term furnished rentals and hold them long-term.
The post Feldman Ruel Completes Sale of Two Dupont Circle MF Properties appeared first on Connect CRE.
​Â
