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$2,800,000
51 Days On Site

1516 Oates St NE
Washington, DC 20002

For Sale|Commercial Sale|Active
0
Beds
0
Full Baths
0
Partial Baths
9,384
SqFt
$298
/SqFt
1938
Built
County:
WASHINGTON
Listing courtesy of Greysteel Company LLC

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1516 Oates St NE1516 Oates St NE1516 Oates St NE1516 Oates St NE
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THE OPPORTUNITY This 14-unit apartment building in the heart of Washington, D.C.’s H Street Corridor presents a prime investment opportunity. With 100% vacancy, it offers immediate potential for repositioning in a highly sought-after neighborhood. The high absorption rates of similar properties in the area highlight the market demand, making this a lucrative opportunity to capitalize on. 100% VACANT ASSET The property will be delivered 100% vacant, making this opportunity free from the elongated TOPA timelines. With no tenants in place, ownership will be able to immediately implement their business plan and begin adding value from day one. VALUE-ADD OPPORTUNITY With a focus on unit upgrades and strategic conversion, this property offers significant cash flow potential. Upon stabilization, projected monthly income exceeds $40,000, making this a highly attractive investment with strong return prospects. TRANSFORMATIVE DEVELOPMENT The Property is surrounded by major revitalization projects like Ivy City, NewCityDC, Union Market, and the H Street Corridor. These areas are seeing billions in redevelopment, including new retail, office spaces, and residential projects. This wave of transformation positions the property for long-term value appreciation in a thriving submarket. H STREET CORRIDOR Located just two blocks from the vibrant H Street Corridor, one of D.C.’s fastest-growing areas. With its dynamic mix of dining, nightlife, arts, and entertainment, the neighborhood draws locals and visitors alike, ensuring strong demand for housing. LIFESTYLE AMENITIES With a Walk Score 85, this Property provides easy access to numerous lifestyle amenities. Within a five-minute walk, you’ll find Hechinger Mall, home to CVS, Safeway, ALDI, and more. Whole Foods and Giant are just a short drive away, offering convenience for residents. TRANSPORTATION EASE The location offers excellent connectivity, whether by car, public transit, or D.C.’s StreetCar. The nearby streetcar provides access along H Street to Union Station, while major highways like Route 50 and I-295 are just minutes away. For commuters, MetroBus stops on every corner ensure easy travel throughout the D.C. metropolitan area. SELF-CONTAINED ASSET Each unit is separately metered for all utilities, placing the responsibility for utility usage and payments entirely on the tenants. This arrangement significantly lowers the owner’s operating costs and eliminates the risk of unpaid utility bills affecting the property’s cash flow, which in turn will increase investor returns.

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Listing Snapshot
Price 
$2,800,000
Days On Site 
51 Days
Bedrooms 
N/A
Inside Area (SqFt) 
9,384 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.2 Acres
Year Built 
1938
MLS® Number 
DCDC2162694
Status 
Active
Property Tax 
$11,925
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
4 weeks agoListing updated with changes from the MLS®
2 months agoListing first seen on site
General Features
Acres 
0.2
Parking 
On Street
Sewer 
Public Sewer
SqFt Total 
9384
Water Source 
Public
Interior Features
Cooling 
Window Unit(s)
Heating 
Natural Gas
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Exterior Features
Construction Details 
Brick
Listing courtesy of Greysteel Company LLC



The real estate listing information is provided by Bright MLS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale or lease referenced on this web site comes from the Internet Data Exchange (IDX) program of the Bright MLS. This web site references real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties in listings may have been sold or may no longer be available. The data contained herein is copyrighted by Bright MLS and is protected by all applicable copyright laws. Any unauthorized collection or dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright © 2020 Bright MLS. All rights reserved.

Neighborhood & Commute
Source: Walkscore
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