Skip to main content

Multifamily

Smothers Portfolio

3928 First St SE, Washington, DC 20032

Listing Price: $2,400,000

Cap Rate
5.70%
Number of Units
16
Occupancy
95.0%
Price/Unit
$150,000
Price/Gross SF
$201.61
Gross SF
11,904

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).

Investment Highlights

  • Large Units. Potential to Add Additional Bedroom to all Units
  • Off Street Parking - Additional Income Potential
  • 1/2 Mile from Major Highways I-295 & I-495

Exclusively Listed By

  • Stacey Milam

    Senior Vice President Investments

    (202) 536-3705

    Email Stacey

    License(s): MD: 526147, DC: SP101423, VA: 0225 077593

    Washington, D.C.

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Multifamily

Smothers Portfolio

Listing Price: $2,400,000

Cap Rate
5.70%
Number of Units
16
Occupancy
95.0%
Price/Unit
$150,000
Price/Gross SF
$201.61
Gross SF
11,904

Investment Highlights

  • Large Units. Potential to Add Additional Bedroom to all Units
  • Off Street Parking - Additional Income Potential
  • 1/2 Mile from Major Highways I-295 & I-495

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).

Exclusively Listed By

  • Stacey Milam

    Senior Vice President Investments

    (202) 536-3705

    Email Stacey

    License(s): MD: 526147, DC: SP101423, VA: 0225 077593

    Washington, D.C.

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

MM Texture Background
MM Textured Background Lower