Horvath & Tremblay Brokers $4.4M Sale Of 22-Unit Multifamily Building In Washington DC

The transaction involved the sale of a vacant multifamily building located at 3228 Hiatt Place Northwest in Washington, DC. The sale price was $4,400,000 for the 22-unit property, which encompasses a total of 24,000 square feet. The price per unit was $200,000, and the price per square foot was $183.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,400,000
• Units: 22
• Square Footage: 24,000
• Price Per Unit: $200,000
• Price Per Square Foot: $183

Dennis Cravedi and Christian Barreiro from Horvath & Tremblay represented the deal. The property had not changed ownership in nearly 40 years and requires significant renovations to achieve full occupancy.