Washington, DC 20002,1216 RAUM ST NE
Washington, DC 20002,1216 RAUM ST NE
Washington, DC 20002,1216 RAUM ST NE
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$850,000
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8,260 SqFt
Price Dropped by $150K

1216 RAUM ST NE Washington, DC 20002

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UPDATED:

10/28/2024 07:31 PM

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 8,260 sqft

Price per Sqft $102

MLS Listing ID DCDC2150192

Style Other

Abv Grd Liv Area 8,260

Originating Board BRIGHT

Year Built 1936

Annual Tax Amount $1,130

Tax Year 2004

Lot Size 3,485 Sqft

Acres 0.08

Property Description

The Centurion Group is delighted to exclusively represent the owner of the charming property located at 1216 Raum Street NE, Washington, DC 20002. Nestled in the vibrant Trinidad area of Northeast DC, this gem sits on a .08-acre lot, offering a blend of community feel and city convenience.

Perfect for either a hands-on User or a forward-thinking Investor, 1216 Raum Street NE presents a unique opportunity to transform a 3,900 SF building into a pre-permitted, modern 3-level, 4-unit apartment complex encompassing a total of 8,340 SF. This includes two cozy lower units of 1060 SF each, featuring 2 bedrooms and 2 bathrooms. The mid-level units, each 1375 SF, offer spacious 3-bedroom, 2-bathroom layouts, while the top-floor units expand to 1735 SF each, boasting 4 bedrooms and 2.5 bathrooms. Upon stabilization, investors can look forward to an attractive approximate 6.5% CAP rate, even after considering construction costs exceeding 800k.

Strategically located along the H-Street/Benning Road corridor, affectionately known as "Downtown Ward 7", the area is currently witnessing an exciting wave of mixed-use development. With Gallaudet University nearby, home to a vibrant community of hearing-impaired students and faculty, Trinidad enjoys a steady demand for residential space. The proximity to the bustling H Street corridor, with its array of shopping and dining options directly connected to Union Station by the DC Street Car, offers unparalleled convenience for both government and private sector employees seeking a short commute to downtown DC, Union Station, and Capitol Hill. Moreover, this neighborhood is a hub for significant employers, including Pepco, DC’s Department of Employment Services, and Unity Health Care, enhancing its appeal through public and private investments that are breathing new life into the area for small businesses.

Just a stone's throw away from Union Market and the major retail offerings on the H Street corridor, 1216 Raum Street NE also benefits from the District Department of Transportation (DDOT)'s ongoing "Benning Road Bridge and Transportation Improvement" project. This initiative aims to enhance Benning Road NE by extending the DC streetcar route to Georgetown, adding bike lanes, and improving walkability, promising an even brighter future for residents and businesses alike.

Location

State DC

County Washington

Zoning R4

Rooms

Basement Connecting Stairway, Other

Interior

Hot Water Other

Heating Other

Cooling Other

Fireplace N

Heat Source Other

Exterior

Waterfront N

Water Access N

Accessibility Other

Parking Type Other

Garage N

Building

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade

New Construction N

Schools

School District District Of Columbia Public Schools

Others

Tax ID 4052//0849

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard


Bright MLS (BMLS)
Listed by David H Park • TTR Sotheby's International Realty

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Gary Pallay

Sales Associate

+1(908) 698-1053

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1216 RAUM ST NE