Investment Overview

Marcus & Millichap is pleased to offer for sale the Kansas Avenue Apartments located at 4325 Kansas Avenue NW in Washington, D.C. Constructed in 1965, this 9,120-square-foot property is situated on a 0.17-acre lot in the Petworth neighborhood. Its location provides excellent connectivity to US-29, facilitating easy access throughout the city. Petworth is known for its restaurants, local events, and key landmarks, including the Petworth Library, just one block away. There are three shopping centers within a five-minute drive, and Ronald Reagan Washington National Airport is only 17 minutes away. This property offers several value-add opportunities for investors looking for potential growth. Currently, five units are vacant, providing immediate opportunities for renovation and repositioning to increase rental income. Additional revenue prospects include the implementation of a structured parking fee system and the installation of solar panels to improve long-term operational efficiency and cost savings. Future rent increases on the eight occupied units also provide opportunities for continued growth in net operating income. The property is being sold as-is, with all decisions regarding tenant additions and renovations left to the new ownership. Key areas that need improvement include the roof condition, windows, vacant units, and general building maintenance.