700 Quincy St NE
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700 Quincy St NE
7 Unit Apartment Building $4,949,624 CAD ($707,089 CAD/Unit) 6.25% Cap Rate Washington, DC 20017
Investment Highlights
- * 100% Leased
- * HCVP tenants—guaranteed rent
- * New construction—completed in 2021
- * Short walk to Brookland-CUA Metro
Executive Summary
* 100% Leased
* New construction—completed in 2021
* HCVP tenants—guaranteed rent
* Short walk to Brookland-CUA Metro
Quincy St. Apartments is a new construction (2021), Class-A style 7-unit multifamily building, with washer/dryer in each unit. All tenants participate in the Housing Choice Voucher Program, offering mutual benefits: Tenants can rent in private market, and landlords get guaranteed rent.
The new construction means minimal to no deferred maintenance, providing a benefit to investors from a property in excellent condition, increasing its appeal and potential for long-term returns.
In addition, the proximity to Catholic University of America campus means a steady supply of students seeking access to walkable housing. The large bedroom count in some of the units would be perfect for a shared-living concept.
Tenant Opportunity to Purchase Act (TOPA). Before selling, the Landlord must provide the Tenants with an Offer of Sale, regardless of whether a Third Party contract is already in place. Only an incorporated Tenant Organization may exercise the right to purchase a property with 5 or more units. A statement of interest has to be made within 45 days of receipt of the Offer of Sale.
* New construction—completed in 2021
* HCVP tenants—guaranteed rent
* Short walk to Brookland-CUA Metro
Quincy St. Apartments is a new construction (2021), Class-A style 7-unit multifamily building, with washer/dryer in each unit. All tenants participate in the Housing Choice Voucher Program, offering mutual benefits: Tenants can rent in private market, and landlords get guaranteed rent.
The new construction means minimal to no deferred maintenance, providing a benefit to investors from a property in excellent condition, increasing its appeal and potential for long-term returns.
In addition, the proximity to Catholic University of America campus means a steady supply of students seeking access to walkable housing. The large bedroom count in some of the units would be perfect for a shared-living concept.
Tenant Opportunity to Purchase Act (TOPA). Before selling, the Landlord must provide the Tenants with an Offer of Sale, regardless of whether a Third Party contract is already in place. Only an incorporated Tenant Organization may exercise the right to purchase a property with 5 or more units. A statement of interest has to be made within 45 days of receipt of the Offer of Sale.
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,949,624 CAD | Apartment Style | Low Rise |
| Price Per Unit | $707,089 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.25% | Building Size | 12,500 SF |
| Gross Rent Multiplier | 10.58 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment |
| Price | $4,949,624 CAD |
| Price Per Unit | $707,089 CAD |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| Gross Rent Multiplier | 10.58 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 12,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2021 |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
1 of 1
Bike Score ®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 3819-0017 | Improvements Assessment | $695,485 CAD (2023) |
| Land Assessment | $612,286 CAD (2023) | Total Assessment | $1,307,771 CAD (2023) |
PROPERTY TAXES
Parcel Number
3819-0017
Land Assessment
$612,286 CAD (2023)
Improvements Assessment
$695,485 CAD (2023)
Total Assessment
$1,307,771 CAD (2023)
zoning
| Zoning Code | RA-1 (The RA-1 zone provides for low- to moderate-density development, including detached houses, row houses, and low-rise apartments.) |
| RA-1 (The RA-1 zone provides for low- to moderate-density development, including detached houses, row houses, and low-rise apartments.) |
-
Geoffrey Lindsay -
Capital Realty Advisors
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700 Quincy St NE
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