Investment Overview

Offering Overview Marcus & Millichap, as the exclusive listing agent, is pleased to offer a unique investment opportunity: the acquisition of 5100 B Street SE. This 18-unit multifamily property is situated in the Marshall Heights neighborhood of Southeast DC. Boasting a strategic location near the DC-Maryland border, Marshall Heights is a burgeoning residential area. The property stands to benefit from its proximity to various large-scale developments in Southeast and Northeast DC, promising positive transformations in the years ahead. The Asset 5100 B Street SE presents an attractive investment opportunity, boasting a 15,350 gross square foot structure on a generous 16,000 square foot lot with R-3 zoning. Constructed in 1965, this three-story building, accompanied by a spacious basement, is strategically located at the corner of 51st Street and B Street SE. A standout feature is the property's 10 off-street parking spaces—a sought-after amenity for current tenants and a potential revenue driver in response to the growing demand for parking in Washington, DC. The unit mix is well-designed, comprising 12 one-bedroom units and six two-bedroom units. Some units showcase premium features like hardwood floors, updated appliances, and renovated bathrooms and common areas, minimizing immediate repair needs for investors. With four vacant units, the property offers an opportunity for immediate lease-up, enhancing cash flow and streamlining management efficiencies. Currently, the average in-place rent is $1,020, representing a 33% gap compared to the market average of $1,530. Investors stand to capitalize on this discrepancy by maximizing rental income and optimizing overall property management. The Opportunity 5100 B Street SE is well positioned on a corner lot, boasting a robust unit mix, and located in a neighborhood with promising potential. The expansive 16,000 square foot lot, coupled with 10 parking spaces, opens doors to future possibilities such as common area resident spaces or innovative amenities. The property's desirable unit mix, comprising 12 one-bedroom units and six two-bedroom units, sets it apart by ensuring strong gross rental revenue compared to neighboring properties predominantly offering studio and one-bedroom units. Some units have undergone cosmetic renovations, reducing expenses associated with leasing vacant units and future turnovers. This strategic combination of features positions 5100 B Street SE as a promising investment with both current and future value.