Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent by Ramg Properties for the sale of 1900 Irving, a multifamily property located in Washington, D.C.

Greysteel Co-Founder, Ari Firoozabadi; Senior Director, W. Kyle Tangney; Director, Rawles M. Wilcox; and Investment Associates, Alicia Orkisz and Herbert Schwat; of the Company’s Washington, D.C. office, are marketing the property.

1900 Irving Street, NE, built in 1968, is a three-story, 12-unit multifamily property located in the Woodridge neighborhood of Northeast Washington, D.C. The property, sitting on a 12,316-square-foot parcel, has been maintained in pristine condition and benefits from recent upgrades to major systems. Common area amenities include 12 off-street parking spaces and on-site laundry facilities.

The building is conveniently situated less than one block north of Rhode Island Avenue and is surrounded by numerous developments that will ultimately ensure continued submarket growth. The Woodridge neighborhood is in close proximity to numerous highly ranked schools such as Catholic University, Howard University, Gallaudet University, and Trinity Washington University, George Washington University, American University, and Georgetown University. Residents of 1900 Irving has easy access to numerous transportation options including the Rhode Island Avenue Metro station, with Red line service; and Rhode Island Avenue NE/ Route 1, one of Washington, D.C. and Prince George’s County’s major thoroughfares.

“1900 Irving is a diligently well-maintained asset on Irving Street NE, less than one block north of the rapidly developing Rhode Island Avenue Corridor. Our client has completed full unit renovations to 75% of the Property, thus allowing new ownership the opportunity to immediately realize returns on investment with very little immediate capital expenditures necessary,” said Mr. Schwat. “Additionally, with the recent and anticipated delivery of several high profile developments in Northeast D.C., the asset is positioned to benefit from Rhode Island Avenue Corridor’s continued growth and appreciation. 1900 Irving is of particular interest to buyers because Greysteel is also marketing the neighboring Property, 1820 Irving, allowing buyers an attractive opportunity to acquire more units and benefit from economies of scale,” he added.

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with seven offices located in Los Angeles, CA; Washington, D.C.; Baltimore, MD; Philadelphia, PA; Dallas, TX; Fort Worth, TX; and Norfolk, VA. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets.www.greysteel.com