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Neighborhood Watch

Trinidad’s 4 Unit Building Landscape


UrbanLand Company
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Here’s a little something we learned while converting an auto repair facility into our new NE DC realtor office and developer sales center – there are simply a ton of 4 unit properties in the Trinidad neighborhood behind our office at 1020 Bladensburg Road, NE.

ULC’s new NE office & developer sales center

“There is a massive number of four unit buildings spread across the streets around Trinidad – it is actually an exciting and attractive set of sites for developers when you study some of the tax records,” said Gerard DiRuggiero, Prinicipal Broker of UrbanLand Company. “Here’s some of what we found.”

  • Just over 350 4-unit buildings are in the inventory;
  • Buildings are congregated around 17 different Trinidad streets;
  • Buildings have been held by current ownership for a very long time
  • Current ownership purchased at very low prices

The acquisition process in this part of NE involves digging deep. “There’s never more than a few multi-units here actually listed for sale, but there are a large number of targets that were purchased an extremely long time ago by the current owners,” said Gerard. “The landscape is ripe for direct solicitation and pursuit of sites.I’ve already been farming the neighborhood and forging relationships based onthe potential we see here for developers,” commented DiRuggiero. “The booming Northeast landscape and the zone’s rising prices are a great foundation to start with for any developer.”

These are some of your typical 4 unit building streets in Trinidad. Why do we love the 4 unit project for developers? The cost of entry and financial risks are relatively low, the returns are solid, and you’re well under the Inclusionary Zoning guidelines that force you to include affordable units.

No matter what the project size, we apply our big-project expertise and ability to add value to all aspects of the development process as a means of ensuring successful projects. “We’ve always felt we take things many steps further the typical sales agent – we get heavily involved in defining target unit pricing, floorplan/layout consulting, feature & finishes selections, unit staging, project pre-marketing, and, of course, the sales,” continued Gerard. “Our methodology has been used to sell just over 1,000 new condo units while representing developers during our 15 year history.”

Call Gerard DiRuggiero at 202.299.9223 or email Gerard@UrbanLandCompany.com to get started!

 

Trinidad. DC’s “Garden District” is Forming.

The H Street Main Street (HSMS) non-profit organization has put together a comprehensive plan for major retail and residential development from the H Street starburst all the way up to the Arboretum along Bladensburg Road, NE. The target zone is being called the Garden District in its conceptual stages, due to the close proximity to The Arboretum.  “HSMS has identified major sites on both sides of Bladensburg Road, NE as targets for major development – these are sites that can be assembled to do 100+ unit mixed use projects,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company.

Here’s details on the ‘Garden District’:

Call Gerard DiRuggiero at 202.299.9223 or email Gerard@UrbanLandCompany.com to get started!

 

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