What's Hot: The Most Expensive Home In Chevy Chase Will Hit The Market For Just South Of $10 Million
Two DC Co-Living Properties Hit the Market
✉️ Want to forward this article? Click here.
A developer is looking to set the market price for co-living properties in DC.
Outlier Realty Capital is listing two properties in Northwest DC managed by co-living company Common. Common Richardson delivered in Shaw in 2017 and was a contentious project at the time as DC's first purpose-built co-living development. Common Monroe delivered in Columbia Heights last year as an adaptive reuse of a former church.
story continues below
loading...story continues above
Both of the developments are in the midst of a ten-year master lease with co-living operator Common. Each building has several furnished multi-bedroom suites with shared kitchens and living and dining areas, and Common secures leases for the bedrooms from prospective tenants and manages the units. All utilities are included.
Marcus & Millichap is listing the properties, and agent Dennis Cravedi describes the decision to sell as "opportunistic" based on current market conditions. Because these are the first purpose-built co-living properties that would sell in DC, their sales would establish the market price for these type of assets.
"For real estate investors, these two assets are exciting opportunities to acquire not only newly-built, well-located multifamily product in the heart of DC, but also assets that achieve strong fixed monthly cash flows with minimal landlord responsibilities through the master leases, guaranteed by Common," Cravedi said in a statement.
Developer Outlier Realty also has other co-living projects with Common in the pipeline and in their portfolio.
See other articles related to: co-living, common, marcus & millichap, outlier realty capital
This article originally published at https://dc.urbanturf.com/articles/blog/two-dc-co-living-properties-hit-the-market/18618.
Most Popular... This Week • Last 30 Days • Ever
If the home ultimately sells for around that list price, it would set a record as the... read »
When purchasing a home, it's crucial to conduct a thorough inspection to determine th... read »
The federal government could be shut down by the end of today, and that shutdown coul... read »
The multi-faceted project will include restaurant, bar, fitness and event spaces.... read »
Right on the heels of a $29 million home along Foxhall Road going under contract to T... read »
- Fox News Bret Baier's $29 Million DC Home Finds A Buyer
- A Home Inspection Primer For New Home Buyers
- How a Government Shutdown Could Affect Home Loans
- Union Market Lite? New Food Hall And Event Space Planned For H Street Corridor
- The Trump Effect Continues: $10 Million Georgetown Condo Goes Under Contract
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro