Investment Overview

Marcus & Millichap is proud to present the sale of a 16 unit multifamily building in Congress Heights. This property is located at 3928 First Street SE and was constructed in 1965. This 4 story building is comprised of 9 one-bedroom/ one-bathroom units and 7 two-bedroom/ one-bathroom units. The generously sized units can be renovated and converted into three-bedroom/ one-bathroom units ($1,893/mo). This long-term owner has always taken pride in the apartment and has proactively kept the buildings well and maintained. The property offers an investor the opportunity to acquire a well-maintained asset with stabilized income. there is also additional value upside through rental increases by implementing the Housing Choice Voucher Program tenants ($1,360 for two-bedroom/one-bathroom and $1,202 for one-bedroom/ one-bathroom).