Property Management in Washington DC: Living in Southwest Waterfront
This article is part of a series on the neighborhoods of Washington, D.C. that aims to help landlords become more familiar with the types of tenants the neighborhood attracts and what the neighborhood offers residents. This article profiles the Southwest Waterfront/Navy Yard area and explores the area’s unique character of revitalization.
Facts and Figures
In the Southwest Waterfront/Navy Yard area, 85 percent of homes are renter-occupied, and only 6 percent are owner-occupied. This is great for landlords because the area is a haven for renters, but it also means there is more competition to attract and retain good tenants. On average, there are two residents per home, and the annual residential turnover is 11 percent. Residents spend a median of three years in the neighborhood. In addition, 28 percent of households have children.
Although Southwest Waterfront was part of the original design of Washington D.C., in the 1950s, the neighborhood experienced large-scale urban renewal, which led to the redesign of many of the area’s buildings and spaces. Recently, increasing residential development, along with the growing number of restaurants and shops, add to the urban atmosphere of the neighborhood. The variety of public transportation options and the easy access to other locations in D.C. also attract tenants. While the neighborhood may be relatively young compared to other areas of the district, it offers a wide variety of activities to its residents.
Prospective tenants will enjoy the area as it continues to redevelop, with commercial and entertainment establishments increasing and revitalizing to the neighborhood. The dining and nightlife options in the neighborhood include the Navy Yard Metro Center Café, Kruba Thai and Sushi, Potbelly Sandwiches, Cava Mezze DC, Starbucks, 7th Hill Pizza, Station 4, Tortilla Coast, and Cantina Marina. Other attractions of the area include Nationals Park and Arena Stage, a regional theater company in D.C.
Navy Yard may be slightly more pedestrian-friendly than Southwest Waterfront, but tenants in both areas can take advantage of the growing bike infrastructure and excellent public transportation nearby. The Waterfront Metro station is on the Green Line of the Metro. Several Metrobus routes serve the Southwest Waterfront area, including routes 74, A9, A42, A46, A48, P6, V7, V8, and W9. The Navy Yard – Ballpark Metro station is also on the Green Line of the Metro. The Metrobus routes serving the Navy Yard area include bus routes A9, A42, A46, A48, P6, V7, V8, and V9. Additionally, the D.C. Circulator makes a stop in the Navy Yard neighborhood on the Union Station – Navy Yard route. Capital Bikeshare offers bike shares in both neighborhoods, Zipcar and RelayRides provide access to 10 car shares in Southwest Waterfront and 2 car shares in Navy Yard. On WalkScore.com, the Southwest Waterfront area has a Walk Score of 69, a Transit Score of 77, and a Bike Score of 77, while Navy Yard has a Walk Score of 84, a Transit Score of 80, and a Bike Score of 85.
Unique Neighborhood Events
The Southwest Waterfront Fireworks Festival is held annually in April in the Southwest Waterfront neighborhood. It offers cultural entertainment, live music, food, and water-related activities for attendees.
If you are planning to market your rental property in the Southwest Waterfront/Navy Yard area to prospective tenants, The Washington Post offers additional information about the neighborhoods. If you would like help leasing your property in this competitive neighborhood, a property management company with local expertise can help.