1500 COLUMBIA ROAD NW, WASHINGTON, DC 20009 - Michael Gillespie & CO Real Estate

$2,250,000

Marcus & Millichap is pleased to exclusively present a fully renovated four-unit apartment buildings located at 1500 Columbia Road NW (4 -3BR/2 BA) in the highly desirable Columbia Heights / Shaw submarket of Northwest Washington, D.C. The offering represents a rare opportunity to acquire a renovated multifamily asset with strong… Read More in-place cash flow, multiple exit strategies, and long-term appreciation upside in one of the District's most resilient rental markets. There is also an option to purchase 543 Florida Avenue NW (4-2BR/1 BA) in the same submarket. The portfolio consists of eight total units across two separately metered buildings, offering buyers flexibility to acquire individually or as a combined investment. Both assets have undergone substantial renovations, including modernized interiors and upgraded building systems, reducing near-term capital expenditure risk and providing immediate operational stability. From a financial standpoint, the properties deliver attractive going-in CAP rates ranging from approximately 6.99% to 7.39%, with NOI of approximately $271,000 combined, and strong Debt Coverage Ratios (1.30x-1.38x). Shaw Duo offers strong in-place income, and market-supported rent growth in a low vacancy submarket. A ProForma CAP rate of 8.81% for 1500 Columbia Road NW. These four-unit buildings also present an exceptional opportunity for owner-occupants seeking to offset housing costs through rental income. FHA financing is available for qualified buyers, significantly expanding the buyer pool. In high-cost markets such as Washington, D.C., the 2026 FHA loan limit for a four-unit property is approximately $2.4 million, allowing buyers to acquire these assets with low down payment requirements while benefiting from market-rate rents. With close proximity to Howard University, this opportunity is also well-suited for parents purchasing housing for a student while renting the remaining units to fellowstudents or young professionals. This strategy enables parents to convert housing expenses into a long-term investment, offset ownership costs through rental income, and retain a highly marketable asset upon graduation. The unit layouts, neighborhood amenities, and transit access align well with student and early-career renter demand, making this a compelling alternative to traditional student housing or condominium ownership. Columbia Heights remains one of Washington, D.C.'s most transit-oriented, and demographically diverse submarkets. Anchored by the Columbia Heights Metro Station (Green/Yellow Lines) and the 14th Street NW commercial corridor, the neighborhood benefits from exceptional walkability, dense retail amenities, and proximity to maj Read Less

Courtesy of Lorenzo M Wooten Jr., Marcus & Millichap Real Estate 202-536-3700

Listing Snapshot

Days Online

Last Updated

Mar 17, 2026

Property Type

Townhouse

Square Ft.

2,909

Lot Size

0.04 Acres

Year Built

1900

MLS Number

DCDC2244846

Additional Details

Appliances & Equipment

Dishwasher, Disposal, Dryer, Exhaust Fan, Freezer, Icemaker, Microwave, Oven/Range - Gas, Range Hood, Refrigerator, Washer

Basement

Full

Building

Built in 1900, Living area: 2909, Construction Materials: Brick

Cooling

Central A/C

Accessibility Features

None

Exterior Features

Patio/Porch Features: Balconies- Multiple, Porch(es)

Foundation

Concrete Perimeter

Heating

Hot Water

Income

Net Operating Income: $166,360

Lot

0.04 acres, Corner

Property

Other structures: Above Grade, Below Grade

Sewer

Public Sewer

Taxes

Annual Amount: $9,583, Lot: 35, Year: 2025, Zoning: R5

Utilities

Water Source: Public

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