Investment Overview

Marcus & Millichap, as the exclusive listing agent approved by the United States Bankruptcy Court for the District of Columbia, is pleased to present the exclusive offering of 945 Longfellow Street NW, a 13-unit multifamily asset located in the rapidly evolving neighborhood of Brightwood Park in Northwest DC. The sale is subject to a Chapter 11 Bankruptcy process, offering investors a rare opportunity to acquire a property free from the Tenant Opportunity to Purchase Act (TOPA) process due to the properties’ bankruptcy status. This exemption is granted under §42-3404.02 of DC code. This property provides a unique chance for an investor to acquire a recently renovated and well-located multifamily asset with significant upside. 945 Longfellow Street NW is a 10,054-square-foot multi-family asset in the heart of Brightwood Park, one of Northwest DC's most rapidly evolving neighborhoods. The asset features a strong unit mix for significant rental revenue potential with a mix of one, two and three-bedroom units. The property was recently renovated, limiting an investor’s degree of capital expenditures upon acquisition. The asset presents an opportunity for investors to add value through the stabilization of operating efficiencies. At full stabilization, the property has the potential to generate significant cash flow as an investor can capture rent growth and market demand as the area continues to develop. The property is located in Brightwood Park in the upper Northwest submarket of Washington, DC. Presently, there are 1,400 units under construction between Brightwood and Fort Totten and an additional 8,300 units in the development pipeline. The nearby Parks at Walter Reed is undergoing an over $1 billion redevelopment, which will deliver roughly 3.1 million square feet of mixed-use development including 2,200 housing units, 130,000 square feet of retail, office space, and ambulatory care. Notably, the 47,000-square-foot Whole Foods Market at the Parks at Walter Reed recently opened in 2023, along with Jinya Ramen Bar and Starbucks. These openings add to existing neighborhood amenities like Safeway, CVS Pharmacy, and Walmart Supercenter on Georgia Avenue, which is less than a ten-minute walk from the property. The property is also located just one block from the Kennedy Street commercial corridor, which has recently been a hotspot for mixed-use development.