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Multifamily

6145-6149 Kansas Avenue NE

6145 Kansas Ave NE, Washington, DC 20011

Listing Price: Request For Offer

Number of Units
12
Gross SF
9,500

Investment Overview

THE OPPORTUNITY

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 6145-6149 Kansas Avenue NE, a 12-unit multifamily asset located in the Lamond Riggs neighborhood of Northeast 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 property's bankruptcy status. This exemption is granted under §42-3404.02 of DC code.


THE ASSET

6145-6149 Kansas Avenue NE is a 9,500-square-foot multi-family asset configured as three contiguous four-unit properties. The asset consists of large 700 SF one-bedroom units with some of the units having the potential to be converted into two-bedroom units. With nine vacant units, the property offers an opportunity for immediate value-add through unit renovations to increase potential rental revenue. With a vacancy rate of 75%, an investor also has the flexibility to renovate and reposition the asset as they see fit. At full stabilization with market rents, the property has the potential to generate $229,383 in gross rental revenue as an investor can capture rent growth and market demand as the area continues to develop.


THE LOCATION

The property is located in Lamond Riggs, also known as Riggs Park, an urban neighborhood in Northeast DC near the Maryland border. Residents enjoy easy access to the Fort Totten Metro station, which serves the Green and Red Lines, connecting the area to DC, Maryland, and Virginia. The neighborhood is commuter-friendly, with major government employers a short 5-mile drive away and retail and employment hubs in Prince George’s County nearby. The area features many nearby modern developments, such as EYA's walkable housing projects, the Riggs Crossing Senior Residences, a 93-unit affordable senior complex opening in 2025, and the over $1 billion development at Parks at Walter Reed only two miles away. The nearby Catholic University of America also drives consistent housing demand from its students, faculty, and staff, making the area ideal for multifamily real estate investment. Retail and entertainment amenities have expanded with the opening of Aldi’s largest DC location in December 2024 as part of the Art Place development.

Investment Highlights

  • High vacancy rate of 75%
  • Not subject to TOPA
  • Chapter 11 bankruptcy sale
  • Located near significant development
  • Value-add opportunity

Exclusively Listed By

  • John Slowinski

    Associate

    (202) 536-3780

    Email John

    License(s): MD: 5002965, DC: SP200205349

    Washington, D.C.

  • 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

Financing By

Multifamily

6145-6149 Kansas Avenue NE

Listing Price: Request For Offer

Number of Units
12
Gross SF
9,500

Investment Highlights

  • High vacancy rate of 75%
  • Not subject to TOPA
  • Chapter 11 bankruptcy sale
  • Located near significant development
  • Value-add opportunity

Investment Overview

THE OPPORTUNITY 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 6145-6149 Kansas Avenue NE, a 12-unit multifamily asset located in the Lamond Riggs neighborhood of Northeast 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 property's bankruptcy status. This exemption is granted under §42-3404.02 of DC code. THE ASSET 6145-6149 Kansas Avenue NE is a 9,500-square-foot multi-family asset configured as three contiguous four-unit properties. The asset consists of large 700 SF one-bedroom units with some of the units having the potential to be converted into two-bedroom units. With nine vacant units, the property offers an opportunity for immediate value-add through unit renovations to increase potential rental revenue. With a vacancy rate of 75%, an investor also has the flexibility to renovate and reposition the asset as they see fit. At full stabilization with market rents, the property has the potential to generate $229,383 in gross rental revenue as an investor can capture rent growth and market demand as the area continues to develop. THE LOCATION The property is located in Lamond Riggs, also known as Riggs Park, an urban neighborhood in Northeast DC near the Maryland border. Residents enjoy easy access to the Fort Totten Metro station, which serves the Green and Red Lines, connecting the area to DC, Maryland, and Virginia. The neighborhood is commuter-friendly, with major government employers a short 5-mile drive away and retail and employment hubs in Prince George’s County nearby. The area features many nearby modern developments, such as EYA's walkable housing projects, the Riggs Crossing Senior Residences, a 93-unit affordable senior complex opening in 2025, and the over $1 billion development at Parks at Walter Reed only two miles away. The nearby Catholic University of America also drives consistent housing demand from its students, faculty, and staff, making the area ideal for multifamily real estate investment. Retail and entertainment amenities have expanded with the opening of Aldi’s largest DC location in December 2024 as part of the Art Place development.

Exclusively Listed By

  • John Slowinski

    Associate

    (202) 536-3780

    Email John

    License(s): MD: 5002965, DC: SP200205349

    Washington, D.C.

  • 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

Financing By

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