Skip to main content

Multifamily

Smothers Portfolio

954 Southern Ave SE, Washington, DC 20032

Listing Price: $2,100,000

Cap Rate
6.94%
Number of Units
14
Occupancy
95.0%
Price/Unit
$150,000
Price/Gross SF
$163.20
Gross SF
12,868

Investment Overview

Marcus & Millichap is proud to present the sale of a 14-unit multifamily building in Congress Heights. This property is located at 954 Southern Avenue Southeast and was constructed in 1952. This 4 story building is comprised of 14 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).

Investment Highlights

  • On Maryland/DC Border
  • Large Units. Potential to Add Additional Bedroom to Each Unit
  • 1 Block from United Medical Center

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: $2,100,000

Cap Rate
6.94%
Number of Units
14
Occupancy
95.0%
Price/Unit
$150,000
Price/Gross SF
$163.20
Gross SF
12,868

Investment Highlights

  • On Maryland/DC Border
  • Large Units. Potential to Add Additional Bedroom to Each Unit
  • 1 Block from United Medical Center

Investment Overview

Marcus & Millichap is proud to present the sale of a 14-unit multifamily building in Congress Heights. This property is located at 954 Southern Avenue Southeast and was constructed in 1952. This 4 story building is comprised of 14 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).

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