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John Solomond Purchases Multifamily Property From Srinivas Chivali And Kranthi Dudam For $2.15M

Property Image
SOLD
$2,150,000
Marty Zupancic
John Slowinski
Ryan Murray
+ 1

Dc

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MultiFamily
Sold 06/05/2025
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Property Image
SOLD

John Solomond Purchases Multifamily Property From Srinivas Chivali And Kranthi Dudam For $2.15M

1915 Benning Road Northeast

See Similar Deals
MultiFamily
Sold 06/05/2025
Marty Zupancic
John Slowinski
Ryan Murray
+ 1
the dealplayerscompscontact
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Summary

Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

Marty Zupancic
Marcus & Millichap
Marty Zupancic
17 deals$127M volume
BROKER
John Slowinski
Marcus & Millichap
John Slowinski
8 deals$29.7M volume
BROKER
Ryan Murray
Marcus & Millichap
Ryan Murray
8 deals$35.6M volume(301) 404-7965
BROKER
Andrew Pacious
Marcus & Millichap
Andrew Pacious
2 deals$7.5M volume(202) 536-3725
BROKER

Details

SOLD
IMAGE: 06/05/2025 ADDRESS: 1915 Benning Road Northeast MARKET: Washington, DC ASSET TYPE: MultiFamily BUYER: John Solomond SELLER: Srinivas Chivali & Kranthi Dudam BROKERS: Andrew Pacious, John Slowinski, Marty Zupancic & Ryan Murray - Marcus & Millichap SALE PRICE: $2,150,000 UNITS: 9 ~ PPU: $238,889 NOTE: Marcus & Millichap sold a newly built, nine-unit multifamily property at 1915 Benning Road NE in D.C. through a competitive process, highlighting its ability to turn distressed assets into profitable deals; the property is near RFK Stadium and offers luxury condos below replacement cost.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$114,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,638.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,192.10
Annual Debt Service$122,305.16