Marcus & Millichap arranged the sale of a 14-unit multifamily property in the Trinidad neighborhood of Northeast Washington, D.C. The property sold for $3.95 million.
“This transaction closed at an 8.25% cap rate, underscoring both the strength of the market and the value of our team’s execution,” said Lorenzo Wooten, CCIM, senior director investments in Marcus & Millichap’s Washington, D.C., office. Wooten represented the seller, 1810 I Street Development LLC.
Located at 1810 I St. NE, the three-story property was built in 2023 and totals about 10,568 square feet. It is 90% leased and offers a mix of one- and two-bedroom units, including two penthouse suites, with modern finishes, updated kitchens and bathrooms, luxury vinyl flooring, a green roof and rear decks with views of the Capitol. The building is less than two miles from Union Station and Capitol Hill and within walking distance of the H Street Corridor’s restaurants, retail and entertainment.
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