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 an exclusive offering of V Street Apartments, a 12-unit multifamily community located in the Eckington neighborhood of Northeast Washington, DC. The sale is subject to a Chapter 11 Bankruptcy process, offering investors a rare opportunity to acquire the asset 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 the DC code. THE ASSET V Street Apartments is a multifamily community comprising three (3) contiguous 4-unit apartment buildings, totaling 12 units. Built in 1935, the asset spans 7,418 square feet on a 1,647-square-foot lot zoned RF-1. All units are one-bedroom, one-bathroom, and approximately 525 square feet per unit, each with individual gas and electric utilities. The property is 100% vacant, allowing new ownership to immediately renovate unit interiors, common areas, and utility systems. Post-renovation, new ownership has flexibility with lease-up strategies and has the opportunity to capture strong rental demand to maximize rental income. Strategically located in the rapidly developing Eckington neighborhood, V Street Apartments benefits from strong tenant demand, proximity to major developments such as Eckington Yards and Union Market, and excellent access to public transit. With substantial value-add potential, the asset is well-positioned for investors looking to enhance value and maximize long-term returns. THE LOCATION Situated in the heart of northeast DC's Eckington neighborhood, V Street Apartments offers a prime location in one of the city’s most rapidly evolving neighborhoods. The nearby Eckington Yards development has recently envigorated the neighborhood with nearly with nearly 700 new residences and 70,000 square feet of retail, bringing improved infrastructure and amenities to the community. Additionally, the property is a short drive to Union Market, a thriving culinary and retail destination, as well as Howard University and Catholic University, two of the city's major academic institutions. With easy access to major thoroughfares and public transit, V Street Apartments provides seamless connectivity to NoMa, Capitol Hill, and downtown DC, making it an attractive opportunity for investors looking to capitalize on the neighborhood’s ongoing growth and development.