84 P St Nw, WASHINGTON, DC 20001

The Hermosa at 84 P Street NW, a newly constructed, rent control-exempt luxury duplex located in the thriving Truxton Circle neighborhood of Washington, D.C. Built in 2019, this gem features a total of 4,723 rentable square feet across two expansive 4-bedroom, 4.5-bathroom units. The building also features private balconies, patios, a rooftop deck and rear, gated, parking spaces. Positioned on a 0.04-acre parcel and zoned RF-1, The Hermosa offers investors the rare opportunity to acquire a low-maintenance, stabilized asset delivering a Year 1 Cap Rate of 7.61%. This is achievable with rent increases of approximately 15%. Priced approximately 35% below market, on a price per square foot basis, this opportunity should be considered by both investors and owner-users. The building is separately metered for electricity and features in-unit washer/dryers, water bill-back structured leases, and energy-efficient HVAC systems with no Capital Improvement needs in the near future. Centrally … read more …