Permit-Ready 40-Unit Development Opportunity | Washington, DC

Highlights:

• Fully Entitled with Permits in Place: Approved permits from DOB, DDOE, and WASA are in place for immediate construction start.
• Under 3 Miles From $3.8B RFK Project: The Commanders' new stadium anchors a 180-acre, $3.7–$3.8B mixed-use redevelopment nearby.
• Zero Entitlement Risk, Immediate Start: All pre-development work is complete, letting a developer break ground without delay.
• $1.16M in Pro Forma Revenue Potential: Projected GPR of $1,138,804 plus $23,400 in parking income across 40 units, 13 spaces.
• Growing Southeast DC Rental Submarket: Households within five miles are projected to reach 314,971 by 2030, fueling rental demand.
• Fully Approved Development Plans: Access approved plans in the Due Diligence Folder and accelerate development.

Description:

View details and diligence materials on RI Marketplace:
https://rimarketplace.com/auction/3367/land/washington/dc?utm_source=brevitas&utm_medium=paid_listing&utm_campaign=october21_2026&utm_content=land_3367

Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 1615 22nd Street SE is a permit-ready, 40-unit elevator apartment development opportunity in Southeast Washington, D.C. Situated on a 12,500 SF lot, the fully entitled project has approved permits in place from DOB, DDOE, and WASA for a four-story building plus cellar and penthouse totaling approximately 38,500 SF, with 29,387 SF of rentable residential space. The approved unit mix includes 25 one-bedroom, 12 two-bedroom, and 3 IZ units, averaging 735 SF, along with 13 parking spaces. All pre-development work is complete, with permit issuance pending only IZ fee payment, allowing a developer to commence construction immediately and bypass the entitlement risk and timeline typical of ground-up development. At a $750,000 starting bid against a $62,500 land basis, the offering provides substantial embedded value, with pro forma annual revenue potential of $1,162,204 including parking income. The site sits less than three miles from the $3.7–$3.8 billion RFK Stadium redevelopment, the largest private investment in D.C. history, positioning the asset to benefit from the transformative growth reshaping eastern Washington, D.C.


Bidding Opens
Oct 20 12:00 AM
Bidding Closes
Oct 22 12:00 AM

Documents: