A compelling multifamily investment opportunity, 1214 Queen St. NE is a fully renovated, 2020-built two-unit asset offering immediate cash flow and long-term appreciation potential. The property generates approximately $77,000+ in annual gross rental income, supported by strong tenant demand and low ongoing operating expenses. Unit 2 is delivered vacant, providing immediate upside through lease-up at market rents or optional owner occupancy, while Unit 1 is leased on a month-to-month basis, allowing for near-term rent optimization.
Each unit offers a spacious 3-bedroom, 3.5-bathroom configuration with brushed nickel finishes, stainless steel appliances, quartz countertops, designer tile, floor-to-ceiling windows, and herringbone flooring. Value-add amenities such as private outdoor decks and dedicated off-street parking for each unit further enhance tenant retention and market competitiveness.
Strategically located in the Trinidad neighborhood, the property benefits from proximity to DC's fastest-growing corridors, Union Market, NoMa, and the H Street Corridor, driving sustained rental demand and appreciation. Tenants enjoy convenient access to Metro, major grocery retailers, fitness centers, and top-tier dining, strengthening long-term occupancy prospects.
Ideal for investors seeking stabilized income with future upside, house-hackers looking to offset ownership costs, or buyers pursuing a 1031 exchange, 1214 Queen St. NE represents a low-maintenance, turnkey multifamily investment in a proven growth market. It has condo documents readily available as well! Current cap rate of 5.17%.
