4-Unit Multifamily Building

Investment Highlights: 

• Four-unit multifamily asset: featuring three (3) 2BR/1BA units and one (1) 3BR/1BA unit
•  75% Vacancy Provides Immediate Upside: through lease-up at market rents
• Rent Control Exempt: for eligible first-time multifamily owners under DC law
• Substantially Renovated in 2021 with approximately $253,000 invested in interior and systems upgrades
• Transit-oriented Location: within walking distance of Georgia Ave–Petworth and Columbia Heights Metro stations
• Prime Columbia Heights / Petworth location: with strong walkability and access to dining, retail, and nightlife

 
Offering Summary:

718 Lamont Street NW represents a rare opportunity to acquire a renovated, four-unit multifamily property in the heart of Washington, DC’s Columbia Heights neighborhood. The two-story, fee-simple building features a well-balanced unit mix of predominantly two-bedroom apartments, appealing to both roommates and small households.

The property is uniquely positioned for value creation, with 75% of units vacant, allowing a new owner to immediately implement a leasing strategy at current market rents. For qualifying buyers, ownership benefits from exemption from DC rent control, creating additional flexibility in rent setting and long-term income growth.

Recent capital improvements completed in 2021 significantly reduce near-term maintenance and capital expenditure risk, positioning the asset competitively within the submarket. Interior upgrades include modern kitchens, updated flooring, upgraded plumbing systems, and efficient HVAC.
Located just steps from major transit options and surrounded by grocery stores, acclaimed restaurants, nightlife, and cultural amenities, 718 Lamont Street NW offers renters an exceptional urban lifestyle. Its proximity to Metro stations, employment centers, and neighborhood retail anchors ensures durable demand and long-term investment appeal.

Altogether, the property offers a compelling combination of location, flexibility, recent renovations, and near-term upside, making it well-suited for investors, 1031 buyers, or owner-occupants seeking exposure to one of Washington, DC’s most desirable multifamily submarkets.

Auctioneer: Lynne Zink c/o Fisher Auction Company Inc. License: 69004285