Washington, D.C. – Harbor Stone Advisors has been awarded the assignment to market Tivoli Place, an expertly maintained apartment complex in the Columbia Heights neighborhood of Washington, D.C. The listing marks the firm’s entrance into the D.C. market. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, Senior Advisor, Tom Wohlgemuth, and Advisor, Kevin Landolphi are marketing the property.
Tivoli Place features 16 spacious units with a mix of (1) Efficiency, (5) 1 Br-1 Ba, (8) 2 Br-1 Ba, and (2) 2 Br-2 Ba units. Typical unit interiors include white/stainless steel appliances, wood cabinets, granite/marble countertops, and hardwood/tile flooring, as well as a private patio/balcony in most units. Additionally, the property includes four surface parking spaces and an on-site laundry facility.
The opportunity exists for a new owner to stabilize the property, as it is currently 50% occupied. In accordance with D.C. rent control regulations, vacant units may be leased at up to a 10% increase over the prior rents.
Tivoli Place is situated in the heart of Columbia Heights, one of the District’s most vibrant transit-oriented neighborhoods. Just a 5-minute walk from Columbia Heights Metro Station, residents can seamlessly access both the yellow and green lines of the D.C. Metro. Additionally, the neighborhood is home to one of the densest retail and restaurant corridors in the city. Notably, Tivoli Place is within one half-mile of DC USA, a 500+ SF shopping mall featuring retailers such as Target, LIDL, and Best Buy.
The property is within a short commute of several nationally-recognized organizations. Notable major employers within one mile of the property include Howard University, Howard University Hospital, and Children’s National Medical Center.
About Harbor Stone Advisors
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit: www.harborstoneadvisors.com