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Mixed-Use

Modo Apartments

3709 New Hampshire Ave NW, Washington, DC 20010

Listing Price: Request For Offer

Number of Units
17
Occupancy
88.9%
Gross SF
22,920

Investment Overview

Offering Overview

As the exclusive listing broker, Marcus & Millichap is excited to present Modo Apartments, a premier Class A mixed-use asset comprising of 17 multifamily units and one ground-floor retail bay. Strategically situated on the corner of New Hampshire Ave NW and Georgia Ave NW, directly opposite the Georgia Ave-Petworth Metro Station, Modo Apartments offers unparalleled convenience and accessibility. Built in 2022, this asset is exempt from rent control restrictions, presenting a rare and enticing opportunity for investors to acquire a non-rent controlled, Class A property in a prime location. With minimal to zero deferred maintenance, Modo represents an exceptional investment opportunity with significant potential for long-term growth and profitability.


The Asset

Modo Apartments consists of 17 multifamily units and a 3,400-square-foot ground-floor retail unit. Each of the 17 multifamily units has a spacious three-bedroom, two-bathroom layout, ranging from 945 to 1,095 square feet. The property boasts high-income potential with an average in-place rent of $3,290. Modo Apartments totals 22,920 gross square feet on a 4,674 square foot lot zoned NC-8. The units feature premium amenities such as wood grain flooring, in-unit washer/dryer, recessed lighting, gloss cabinets, Silestone countertops, and polished chrome fixtures. Additionally, residents can enjoy the rooftop lounge and other communal spaces. With seven vacancies, new ownership can lease units at market rates, further enhancing the property's value and income potential.


The Location

Strategically positioned at the corner of New Hampshire Ave NW and Georgia Ave NW, Modo Apartments enjoys a prime location in the bustling Petworth neighborhood. Residents benefit from a plethora of nearby restaurants and retail options, contributing to the vibrant atmosphere of the area. Furthermore, the property's proximity to the Georgia Ave-Petworth Metro Station, located directly across the street, ensures tenants' convenient access to public transportation. With a Walk Score of 96, Transit Score of 70, and Bike Score of 90, the neighborhood offers unparalleled convenience and accessibility, enhancing the appeal of Modo Apartments as a desirable living destination.

Investment Highlights

  • Non-Rent Controlled Turnkey, Newly Built Class A Asset
  • High-End Features and Finishes
  • Ideal Unit Mix
  • Transit-Oriented Location, Steps Away from Metro
  • Ground Floor Retail
  • Nearby Plethora of Restaurants & Retail

Exclusively Listed By

  • Marty Zupancic

    Senior Vice President Investments

    (202) 536-3788

    Email Marty

    License(s): MD: 631902, VA: 0225 187032, DC: SP98368225

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Listing Price: Request For Offer

Number of Units
17
Occupancy
88.9%
Gross SF
22,920

Investment Highlights

  • Non-Rent Controlled Turnkey, Newly Built Class A Asset
  • High-End Features and Finishes
  • Ideal Unit Mix
  • Transit-Oriented Location, Steps Away from Metro
  • Ground Floor Retail
  • Nearby Plethora of Restaurants & Retail

Investment Overview

Offering Overview As the exclusive listing broker, Marcus & Millichap is excited to present Modo Apartments, a premier Class A mixed-use asset comprising of 17 multifamily units and one ground-floor retail bay. Strategically situated on the corner of New Hampshire Ave NW and Georgia Ave NW, directly opposite the Georgia Ave-Petworth Metro Station, Modo Apartments offers unparalleled convenience and accessibility. Built in 2022, this asset is exempt from rent control restrictions, presenting a rare and enticing opportunity for investors to acquire a non-rent controlled, Class A property in a prime location. With minimal to zero deferred maintenance, Modo represents an exceptional investment opportunity with significant potential for long-term growth and profitability. The Asset Modo Apartments consists of 17 multifamily units and a 3,400-square-foot ground-floor retail unit. Each of the 17 multifamily units has a spacious three-bedroom, two-bathroom layout, ranging from 945 to 1,095 square feet. The property boasts high-income potential with an average in-place rent of $3,290. Modo Apartments totals 22,920 gross square feet on a 4,674 square foot lot zoned NC-8. The units feature premium amenities such as wood grain flooring, in-unit washer/dryer, recessed lighting, gloss cabinets, Silestone countertops, and polished chrome fixtures. Additionally, residents can enjoy the rooftop lounge and other communal spaces. With seven vacancies, new ownership can lease units at market rates, further enhancing the property's value and income potential. The Location Strategically positioned at the corner of New Hampshire Ave NW and Georgia Ave NW, Modo Apartments enjoys a prime location in the bustling Petworth neighborhood. Residents benefit from a plethora of nearby restaurants and retail options, contributing to the vibrant atmosphere of the area. Furthermore, the property's proximity to the Georgia Ave-Petworth Metro Station, located directly across the street, ensures tenants' convenient access to public transportation. With a Walk Score of 96, Transit Score of 70, and Bike Score of 90, the neighborhood offers unparalleled convenience and accessibility, enhancing the appeal of Modo Apartments as a desirable living destination.

Exclusively Listed By

  • Marty Zupancic

    Senior Vice President Investments

    (202) 536-3788

    Email Marty

    License(s): MD: 631902, VA: 0225 187032, DC: SP98368225

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

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