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 Arcadian House, a 28-unit multifamily asset located in Bladensburg, 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 Arcadian House presents an attractive investment opportunity, featuring a 27,080 gross square foot structure on a large 33,597 square foot lot with R-10 zoning. The asset features a strong unit mix for significant rental revenue potential with a mix of 15 one-bedroom and 13 two-bedroom units. The one-bedroom units are approximately 750 SF and their rental average is currently 39% below the market average of $1,412. Similarly, the two-bedroom units are approximately 900 SF and their rental average is 37% below the market rent of $1,655. This allows for upside as an investor can perform cosmetic, value-add renovations to increase rents over time. The asset also has a large parking lot, totaling 28 parking spaces. Ultimately, 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 Location The property is located in Bladensburg, Maryland, within the growing area of Prince George's County. The former Prince George's Hospital Center site is currently undergoing a $500 million redevelopment, covering 113 acres. This mixed-use project, set for completion by 2028, will introduce over 1,000 residential units, office spaces, retail outlets, and a hotel, all within close proximity to the Cheverly Metro Station. Retail amenities in Bladensburg include established grocery stores such as Safeway, located on Bladensburg Road, and Walmart Supercenter. Additionally, the Bladensburg Plaza Shopping Center hosts a range of businesses, contributing to the local retail environment.