Updated Jun 6, 2025
John Solomond Purchases Multifamily Property From Srinivas Chivali And Kranthi Dudam For $2.15M
1915 Benning Road Northeast
$2,150,000
Units
9
Asset Type
MultiFamily
Closing
Jun 5, 2025
About this deal
AI
A newly built multifamily property with nine units is located at 1915 Benning Road Northeast in the Washington, DC market. This multifamily asset was sold for $2,150,000, resulting in a price per unit of $238,889.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,150,000
- Units: 9
- Buyer: John Solomond
- Seller: Srinivas Chivali & Kranthi Dudam
- Broker Representation: Andrew Pacious, John Slowinski, Marty Zupancic & Ryan Murray - Marcus & Millichap
This transaction demonstrates the capabilities of Marcus & Millichap in converting distressed assets into profitable opportunities. The property is situated near RFK Stadium and offers competitive pricing for luxury condos in comparison to replacement costs.
On the Map
$2,150,000
MultiFamily
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Players
Washington MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.38%
Cash-on-Cash
-2.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93