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Multifamily

Astor Place Apartments

5036 Astor Pl SE, Washington, D.C., DC 20019

Listing Price: $1,125,000

Cap Rate
5.20%
Number of Units
9
Price/Unit
$125,000
Price/Gross SF
$131.73
Gross SF
8,540

Investment Overview

Marcus & Millichap is proud to present the sale of 5036 Astor Place Southeast in DC's rapidly developing Marshall Heights neighborhood in Ward 7. Built in 1965, this Low-Rise Apartment consists of 9 2Bedroom/1Bathroom units and has a total rentable area of 8,540SF. The current owner has done exceptionally well maintaining this asset for roughly 14 years and is ready to give a potential investor the opportunity to enter into a high barrier market at a low financial commitment. Current rents average at $1,189 per unit, however, there is additional value upside by raising rents to Housing Choice Voucher Program Standards ($1,275 for 2Bedroom unit).

Investment Highlights

  • Large 2 Bedroom / 1 Bathroom Units
  • 9 Existing Parking Spaces
  • Located within 1.5 Miles of 3 Metro Stations (Benning Road Metro, Capitol Heights Metro, Minnesota Avenue Metro)
  • 0.5 Miles to Maryland Border 2 Miles to RFK Stadium and Anacostia Waterfront

Exclusively Listed By

  • Stacey Milam

    Senior Managing Director 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

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Multifamily

Astor Place Apartments

Listing Price: $1,125,000

Cap Rate
5.20%
Number of Units
9
Price/Unit
$125,000
Price/Gross SF
$131.73
Gross SF
8,540

Investment Highlights

  • Large 2 Bedroom / 1 Bathroom Units
  • 9 Existing Parking Spaces
  • Located within 1.5 Miles of 3 Metro Stations (Benning Road Metro, Capitol Heights Metro, Minnesota Avenue Metro)
  • 0.5 Miles to Maryland Border 2 Miles to RFK Stadium and Anacostia Waterfront

Investment Overview

Marcus & Millichap is proud to present the sale of 5036 Astor Place Southeast in DC's rapidly developing Marshall Heights neighborhood in Ward 7. Built in 1965, this Low-Rise Apartment consists of 9 2Bedroom/1Bathroom units and has a total rentable area of 8,540SF. The current owner has done exceptionally well maintaining this asset for roughly 14 years and is ready to give a potential investor the opportunity to enter into a high barrier market at a low financial commitment. Current rents average at $1,189 per unit, however, there is additional value upside by raising rents to Housing Choice Voucher Program Standards ($1,275 for 2Bedroom unit).

Exclusively Listed By

  • Stacey Milam

    Senior Managing Director 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

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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