Investment Overview

THE OPPORTUNITY As the exclusive listing broker, Marcus & Millichap is excited to present The Arbor at Takoma, a recently delivered, TOPA-free, Class A asset comprised of 36 residential units and 8,365 square feet of retail space. The asset is ideally situated on the corner of Cedar Street and Carroll Street in the Takoma neighborhood, just steps from the Takoma Metro. Recently delivered in 2024, The Arbor at Takoma is exempt from rent control restrictions, presenting a rare and enticing opportunity for investors to acquire a 100% vacant, Class A property in a prime neighborhood of Northwest, Washington, DC. THE ASSET The Arbor at Takoma consists of 36 multifamily units and 8,365 square feet of ground-floor retail space. The multifamily units include 24 one-bedrooms, averaging 560 square feet, and 12 two-bedrooms, averaging 868 square feet. All units feature high-quality fit and finish including quartz countertops, tile backsplashes, stainless steel appliances, floor-to-ceiling windows, vinyl plank flooring, washer/dryers, and private balconies (in select units). Utilities are separately metered, with gas providing cooking and hot water, removing a majority of the utility burden on the building and limiting uncontrollable expenses. 3,366 square feet of retail space is under agreement with a Pilates studio for a 5-year initial lease term. The Pilates studio is scheduled to begin paying rent in September 2024. THE LOCATION Strategically positioned at the corner of Cedar Street and Carroll Street, The Arbor at Takoma enjoys a prime location in the Takoma neighborhood. Takoma stands as a vibrant enclave, celebrated for its diverse community, rich culture, and artistic flair. Tree-lined streets, colorful row houses, and a thriving arts scene characterize this area. Residents enjoy eclectic dining options, a bustling farmers' market, and a strong sense of community. Takoma's commitment to sustainability and green living is evident in its parks and environmental initiatives. With its unique character and convenient location, Takoma offers a dynamic urban experience with a small-town feel.