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 1010 G Street NE, a 14-unit multifamily asset located in the H Street Corridor market of Washington, 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. This property provides a unique chance for an investor to acquire a well-located multifamily asset with significant upside. The Asset 1010 G Street NE is a 11,805 gross square foot multifamily asset situated on a 7,078 square foot lot zoned RF-1. The asset features a strong unit mix for the submarket with 12 one-bedroom units and two (2) two-bedroom units. All units are estimated to be between 700-800 square feet and present a value-add opportunity to renovate units upon turnover to capture upside in market rents. The property currently only has one (1) vacant unit, allowing an investor to receive rental income day one, while repositioning the asset throughout the ownership cycle. If the vacant unit is immediately leased up through the voucher program or to market, and current rents are increased through rent control, the asset can generate nearly $300,000 in gross annual rental revenue. The Location The property is located just one block south of the rapidly evolving H Street Corridor in Northeast DC. The H Street corridor has been growing over the last two decades as a hotspot for mixed-use development, and today is home to nightlife, restaurants, music venues, and more. The area is a prime location for investment, as the location is already established but still has upside with future growth potential. The property is also located just under a 10-minute drive to the RFK Stadium site, which is likely to be repurposed into a stadium and entertainment district.