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Multifamily

37 Unit Apartment - Van Ness Neighborhood

4107 Connecticut Ave NW, Washington, DC 20008

Listing Price: $4,475,000

Cap Rate
6.90%
Number of Units
37
GRM
7.41
Occupancy
97.0%
Price/Unit
$120,946

Investment Overview

Marcus & Millichap is pleased to exclusively present 4107 Connecticut Avenue NW, a 37-unit multifamily building located in The Van Ness Neighborhood of Washington, D.C. Situated on a 0.18-acre parcel and zoned RA-4, the property features an attractive mix of 21 studio units, 7 one-bedroom units, and 9 two-bedroom units, totaling approximately 14,400 rentable square feet.

This asset presents a unique opportunity for investors to acquire a stabilized property with 97% current occupancy and a projected Year 1 cap rate of 6.90%. There is an additional value-add opportunity with optimizing rental rates and operating expenses to align with competitive market rents, and lowering operating expenses which will enhance the property’s net operating income. The building's amenities include a nine-passenger elevator, a centrally heated and air-conditioned system with fan coil units in each apartment, and a shared laundry facility on the lower level. Recent upgrades include a new 300 gallon water tank, a new roof, new laundry no maintenance laundry units, unit updates, and common area renovations.

4107 Connecticut Avenue NW is strategically located one block from the Van Ness-UDC Metro Station (Red Line), offering unparalleled accessibility to the Washington, D.C. metro area. The property is also across the street from The University of The District of Columbia and one block from The Howard University School of Law as well as strips of vibrant retail along Connecticut Avenue NW.

With a median household income exceeding $124,000 and a vacancy rate of just 3%, the Van Ness submarket represents one of D.C.’s most desirable rental markets. The property’s central location, strong occupancy, and value-add potential position this asset as a compelling investment opportunity in a thriving submarket

Investment Highlights

  • A 37-Unit, Four-Story Multi-Family Building Totaling 25,868 Square Feet
  • An Attractive Unit Mix of 21 Efficiency, 7 One Bedroom, and 9 Two Bedroom Units
  • Recent Upgrades Including a High Efficiency Boiler, a new Water Heater, a new Roofer, and a Nine Passenger Elevator
  • Centrally Heated and Air Conditioned with Fan Coil Units in Each Apartment
  • Situated Across the Street from Washington Metro Red Line via Van Ness-UDC Metro Station and The University of The District of Columbia

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Financing By

Multifamily

37 Unit Apartment - Van Ness Neighborhood

Listing Price: $4,475,000

Cap Rate
6.90%
Number of Units
37
GRM
7.41
Occupancy
97.0%
Price/Unit
$120,946

Investment Highlights

  • A 37-Unit, Four-Story Multi-Family Building Totaling 25,868 Square Feet
  • An Attractive Unit Mix of 21 Efficiency, 7 One Bedroom, and 9 Two Bedroom Units
  • Recent Upgrades Including a High Efficiency Boiler, a new Water Heater, a new Roofer, and a Nine Passenger Elevator
  • Centrally Heated and Air Conditioned with Fan Coil Units in Each Apartment
  • Situated Across the Street from Washington Metro Red Line via Van Ness-UDC Metro Station and The University of The District of Columbia

Investment Overview

Marcus & Millichap is pleased to exclusively present 4107 Connecticut Avenue NW, a 37-unit multifamily building located in The Van Ness Neighborhood of Washington, D.C. Situated on a 0.18-acre parcel and zoned RA-4, the property features an attractive mix of 21 studio units, 7 one-bedroom units, and 9 two-bedroom units, totaling approximately 14,400 rentable square feet. This asset presents a unique opportunity for investors to acquire a stabilized property with 97% current occupancy and a projected Year 1 cap rate of 6.90%. There is an additional value-add opportunity with optimizing rental rates and operating expenses to align with competitive market rents, and lowering operating expenses which will enhance the property’s net operating income. The building's amenities include a nine-passenger elevator, a centrally heated and air-conditioned system with fan coil units in each apartment, and a shared laundry facility on the lower level. Recent upgrades include a new 300 gallon water tank, a new roof, new laundry no maintenance laundry units, unit updates, and common area renovations. 4107 Connecticut Avenue NW is strategically located one block from the Van Ness-UDC Metro Station (Red Line), offering unparalleled accessibility to the Washington, D.C. metro area. The property is also across the street from The University of The District of Columbia and one block from The Howard University School of Law as well as strips of vibrant retail along Connecticut Avenue NW. With a median household income exceeding $124,000 and a vacancy rate of just 3%, the Van Ness submarket represents one of D.C.’s most desirable rental markets. The property’s central location, strong occupancy, and value-add potential position this asset as a compelling investment opportunity in a thriving submarket

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

Financing By

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