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568 Lebaum Street SE

WASHINGTON, DC 20032
  • $2,500,000
  • STATUS: Active
  • ON SITE: 29 Days
  • ID#: DCDC2175354
UPDATED: 86 min ago
$2,500,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1941
County:

School Ratings & Info

Description

Incredible Opportunity to Own a 10,004 SQFT Mixed Use Complex. Situated on a corner lot, this property is directly adjacent to the largest redevelopment project east of the river"Saint Elizabeths! The Saint Elizabeths redevelopment is set to include 1.8 million SQFT of office space, 1,300 residential units, 200K SQFT of retail, two hotels, and a hospital. It is also currently home to the Washington Mystics"D.C.'s professional women's basketball team.This is a tremendous opportunity to own property right next door and capitalize on the nearby growth and revitalization. The complex has been divided by the owner into five addresses: 568-570 Lebaum Street SE & 2761, 2763, and 2765 Martin Luther King Jr. Ave SE, Washington, D.C. 20032. Zoned MU-4, this property presents a unique opportunity for an investor to develop it into multifamily, retail, office, or lodging. Investors can also choose to lease the property as-is, with the potential to generate $296,000 in gross annual revenue. Alternatively, investors can pursue a hybrid approach"leasing the property to generate immediate income while working through the entitlement process.Conveniently located less than 1 mile from the Congress Heights Metro Station, the property offers easy access to public transportation.Additionally, the property is located in an Opportunity Zone, offering tax benefits and incentives that can contribute to community revitalization, job creation, and affordable housing"all while benefiting from local development programs.This area is poised for explosive growth, awaiting the right investor to seize this exceptional opportunity.

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©2025 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Eng Garcia Properties, LLC | Keller Williams Capital Properties. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2025-02-18T23:51:37.23.
www.enggarcia.com/homes/159601570
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568 Lebaum Street SE WASHINGTON, DC 20032

  • Price: $2,500,000
  • Status: Active
  • On Site: 29 Days
  • Updated: 86 min ago
  • ID#: DCDC2175354
0
Beds
0
Baths
0
½ Baths
0.22
Acres
1941
Built
Neighborhood:
Congress Heights
County:
Washington
School District:
District Of Columbia Public Schools
Property Description
Incredible Opportunity to Own a 10,004 SQFT Mixed Use Complex. Situated on a corner lot, this property is directly adjacent to the largest redevelopment project east of the river"Saint Elizabeths! The Saint Elizabeths redevelopment is set to include 1.8 million SQFT of office space, 1,300 residential units, 200K SQFT of retail, two hotels, and a hospital. It is also currently home to the Washington Mystics"D.C.'s professional women's basketball team.This is a tremendous opportunity to own property right next door and capitalize on the nearby growth and revitalization. The complex has been divided by the owner into five addresses: 568-570 Lebaum Street SE & 2761, 2763, and 2765 Martin Luther King Jr. Ave SE, Washington, D.C. 20032. Zoned MU-4, this property presents a unique opportunity for an investor to develop it into multifamily, retail, office, or lodging. Investors can also choose to lease the property as-is, with the potential to generate $296,000 in gross annual revenue. Alternatively, investors can pursue a hybrid approach"leasing the property to generate immediate income while working through the entitlement process.Conveniently located less than 1 mile from the Congress Heights Metro Station, the property offers easy access to public transportation.Additionally, the property is located in an Opportunity Zone, offering tax benefits and incentives that can contribute to community revitalization, job creation, and affordable housing"all while benefiting from local development programs.This area is poised for explosive growth, awaiting the right investor to seize this exceptional opportunity.
Exterior Features

Construction Materials Brick Garage YN No Parking Types DrivewayParking Lot Soil Types Unknown Water Access YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 10004.00 Cooling Window Unit(s)Other Heating Central Heating YN Yes Net Square Feet 9879.00

Property Features

Acceptable Financing CashContractPrivateNegotiable Accessibility Features 2+ Access Exits Central Air YN No Cooling Fuel ElectricOther Heating Fuel ElectricOther Hot Water Other Navigable Water YN N New Construction YN No Number Of Units Total 3 Original MLSNumber 803584985248 Ownership Interest Fee Simple Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 13113.00 Tax Lot 823 Utilities Sewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning MU-4 Zoning Description MU-4 zoning allows multi-familyretailofficelodging. Max FAR 3.0 (28284 SF). 50' height4 stories + cellar/penthouse.

Listing courtesy of Samson Properties: .


©2025 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Eng Garcia Properties, LLC | Keller Williams Capital Properties. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2025-02-18T23:51:37.23.
 
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Eng Garcia Properties, LLC | Keller Williams Capital Properties
1930 18th St NW
Washington DC, 20009