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Multifamily

The 28th Street Apartments - Portfolio Sale

2805 28th St SE, Washington, DC 20020

Listing Price: $2,875,000

Cap Rate
6.85%
Number of Units
12
Occupancy
100.0%
Price/Unit
$239,583
Price/Gross SF
$241.92
Gross SF
11,884

Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of The 28th Street Apartments, a portfolio offering of three adjacent buildings totaling 12 units in Southeast Washington DC, situated on .35 acres. The subject properties have a unit mix of eight two-bedroom units and four three-bedroom units. Each unit is separately metered for gas and electricity, and the owner is responsible for water and common area electricity. This subject property provides an opportunity to have stable cash flow with an attractive CAP rate in an area being significantly revitalized. The 28th Street Apartments is located in an area that is experiencing significant redevelopment including the new Skyland Town Center a half a mile away, and the new 350+ acre Saint Elizabeth campus (100+ new townhomes, 47,000 square feet of retail space, 171,000 square feet of office space and the new U.S. Coast Guard headquarters) 2.5 miles away. The subject property is located a half-mile away from the Alabama Avenue metro station.

Investment Highlights

  • An Attractive Mix of Eight -Two Bedroom Units & Four -Three Bedroom Units
  • Separately Metered for Gas and Electricity
  • Additional Income Opportunity From the Laundry Units (2) and From Leasing the Seven Parking Spaces
  • All Voucher Tenants
  • Recent Unit Upgrades to Every Unit., Newer roof on each of these three buildings, and Newer HVAC Systems for Each Unit.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Multifamily

The 28th Street Apartments - Portfolio Sale

Listing Price: $2,875,000

Cap Rate
6.85%
Number of Units
12
Occupancy
100.0%
Price/Unit
$239,583
Price/Gross SF
$241.92
Gross SF
11,884

Investment Highlights

  • An Attractive Mix of Eight -Two Bedroom Units & Four -Three Bedroom Units
  • Separately Metered for Gas and Electricity
  • Additional Income Opportunity From the Laundry Units (2) and From Leasing the Seven Parking Spaces
  • All Voucher Tenants
  • Recent Unit Upgrades to Every Unit., Newer roof on each of these three buildings, and Newer HVAC Systems for Each Unit.

Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of The 28th Street Apartments, a portfolio offering of three adjacent buildings totaling 12 units in Southeast Washington DC, situated on .35 acres. The subject properties have a unit mix of eight two-bedroom units and four three-bedroom units. Each unit is separately metered for gas and electricity, and the owner is responsible for water and common area electricity. This subject property provides an opportunity to have stable cash flow with an attractive CAP rate in an area being significantly revitalized. The 28th Street Apartments is located in an area that is experiencing significant redevelopment including the new Skyland Town Center a half a mile away, and the new 350+ acre Saint Elizabeth campus (100+ new townhomes, 47,000 square feet of retail space, 171,000 square feet of office space and the new U.S. Coast Guard headquarters) 2.5 miles away. The subject property is located a half-mile away from the Alabama Avenue metro station.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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