$1,900,000
1302 East Capitol Street NE is a fully renovated, two-unit brick rowhouse located at the edge of Lincoln Park in the Capitol Hill Historic District, one of Washington, D.C.'s most established and desirable neighborhoods. The subject property totals approximately 2,493 SF and comprises a two-level, three-bedroom, two-and-a-half-bathroom upper unit of approximately 1,662 SF and a two-bedroom, one-bathroom lower-level unit of approximately 831 SF with its own front entrance. The property underwent a complete gut renovation, completed in January 2020, in which the building was stripped to the studs and rebuilt with all-new plumbing, electrical, HVAC, windows, floors and walls, minimizing near-term capital expenditures. The property is delivered vacant, providing a purchaser full control over occupancy, rents and execution from day one, whether as a stabilized two-unit investment or owner-occupancy with rental income from the second unit.
Complete 2020 Renovation. The renovation addressed every major building system. Improvements include new plumbing, electrical and HVAC throughout, new windows, floors and walls, a repointed brick facade, and a rebuilt front entry with a new brick walkway and planting bed. Sump pumps were added in 2022.
Upper Unit with High-End Finishes. The upper unit spans the first and second floors and is finished to a high standard, with hardwood floors and crown molding throughout. The main level offers a tiled foyer, a living room with bay window, a separate dining room, a powder room and a rear kitchen with stone countertops, mosaic tile backsplash, gas range with vent hood, and Bosch, Liebherr and GE appliances. The second level includes a front primary bedroom with bay window and two closets, two additional bedrooms, including a rear bedroom with a Juliet balcony, two full bathrooms with marble tile, one with a frameless glass shower, and an in-unit washer and dryer. The unit is served by central heating and air conditioning.
Self-Contained Lower Unit. The lower unit features an open living area and kitchen with an island and stainless steel appliances, two bedrooms, one bathroom and an in-unit washer and dryer, with ductless mini-split heating and cooling and a fresh-air ventilation system. A rear door leads to a walkway with stairs up to the patio.
Rear Outdoor Patio. Both units have access to a fenced rear patio, the upper unit by a deck and stairs from the kitchen and the lower unit by its own rear stairs. A rear gate opens to a narrow walkway to the street for trash and recycling.
Efficient Operating Structure. Each unit is separately metered for electric and has its own water heater. Historically, tenants paid gas and electric, with ownership responsible for water only.
Income and Owner-Occupancy Flexibility. Historically, the upper unit leased for approximately $5,500 per month and the lower unit for approximately $2,400 to $3,000 per month, representing approximately $94,800 to $102,000 in annual gross rent at full occupancy. A purchaser may lease both units, or occupy one unit and use the rental income from the other to offset carrying costs.
Premier Capitol Hill Location. The property sits at the edge of Lincoln Park, approximately 0.6 miles from Eastern Market and 0.7 to 0.8 miles from the H Street NE corridor and Barracks Row. Three Metro stations serving the Blue, Orange and Silver lines are each within approximately 0.8 miles: Potomac Avenue (0.7 miles), Eastern Market (0.7 miles) and Stadium-Armory (0.8 miles). The property has no off-street parking; parking is on-street only. Zoned RF-1.
A complete studs-out renovation, a flexible two-unit layout and a park-front location position 1302 East Capitol Street NE as a compelling, turnkey investment on Capitol Hill.
1302 E Capitol St Ne, Washington
Listing courtesy of Feldman Ruel Urban Property Advisors. Contact:
