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 The Flower House, a 20-unit multifamily asset located in Takoma Park, Maryland. The sale is subject to a Chapter 11 Bankruptcy process, offering investors faster closing times, reducing the investor's exposure to market fluctuations, and increasing the likelihood of a smooth transaction. Additionally, this process allows for greater flexibility in structuring the deal. The Asset 8212 Flower Avenue presents an attractive investment opportunity, boasting a 15,846 gross square foot multifamily building on a generous 20,690 square foot lot with R-10 zoning. The asset features a strong unit mix for significant rental revenue potential with a mix of 11 one-bedroom and nine two-bedroom units. The one-bedroom units are approximately 650 SF and their rental average is currently 41% below the market average of $1,439. Similarly, the two-bedroom units are approximately 800 SF and their rental average is 59% below the market rent of $1,785. This allows an investor to steadily increase cash flow by bringing rents up to market. The asset is also 95% occupied, producing immediate rental income for new investors. The Location Takoma Park, Maryland, is experiencing significant growth and revitalization, underscored by recent developments and strategic planning initiatives. In April 2024, the Montgomery County Council approved the Takoma Park Minor Master Plan Amendment, focusing on key areas such as the Washington Adventist Hospital and University campuses, Erie Center, and Maple Avenue. The plan prioritizes preserving affordable housing, expanding economic opportunities, and enhancing the natural and built environments. Transportation improvements include the ongoing extension of the Metropolitan Branch Trail, aimed at improving pedestrian and cyclist connectivity to Silver Spring. Additionally, the Purple Line light rail is expected to be completed in 2027, further connecting Takoma Park to points of interest across Maryland.