We are pleased to present 311 East Capitol Street, SE, a four-level, 13-unit property in RF-1/CAP Zoning. The current configuration, layout, and condition offer an investor myriad options to reposition the asset in the marketplace. The property is nestled on one of the most coveted blocks on Capitol Hill, as it is situated a stone’s throw from the United States Capitol, both the Senate and House of Representative Office Buildings (Hart, Russell and Dirksen, and Cannon, Longworth and Rayburn), The Folger Shakespeare Library, The Supreme Court, The Library of Congress, countless association headquarters, and vast restaurant and retail options. As a TOPA free asset, the property presents investors with an immediate opportunity to acquire a grandfathered-use, multi-family property for occupancy upon acquisition, redevelopment as a mid-level or luxury rental, or a condominium project. A present estimate of HCVP Rents for the current configuration, if fully leased is $31,930/mo (estimated). A preliminary zoning opinion (available upon request) has confirmed that the unit make-up could be modified to decrease density.
