Investment Overview

Offering Overview Marcus & Millichap is pleased to present 1915 Benning Road NE, a 9-unit multifamily asset (9 individual condo units) in the rapidly evolving Kingman Park neighborhood of Washington, DC. Offered through a foreclosure auction, this property is 100% vacant and exempt from the District’s Tenant Opportunity to Purchase Act (TOPA), ensuring a streamlined acquisition process. The auction, conducted by Alex Cooper Auctioneers, will take place in person on Thursday, April 17th, at 4910 Massachusetts Avenue NW, Suite 100, Washington, DC, at 11:00 AM (EST). Situated along the Benning Road corridor, the property offers easy access to key destinations such as Union Market and the H Street Corridor, which are known for their retail, dining, and entertainment scenes. With strong demand for housing in this transforming area, 1915 Benning Road NE presents a rare opportunity for investors seeking a well-located asset with significant upside potential. The Asset 1915 Benning Road NE is a newly constructed, high-end 9-unit multifamily asset offering 8,240 gross square feet of modern living space on a 2,178-square-foot lot, zoned MU-4, in the heart of the rapidly growing Kingman Park neighborhood of Northeast Washington, DC. Completed in 2023, the building consists of an ideal unit mix for maximizing rental potential in the neighborhood, with one (1) one-bedroom unit and eight (8) two-bedroom units. The property is already subdivided into condos and operates as 11 separate parcels (9 condo units and 2 parking spaces), allowing an investor to capitalize on multiple investment strategies. The property is currently 100% vacant, allowing an investor the opportunity to control the property through the lease-up process. A standout feature of the property is its expansive penthouse suite, which offers significantly more space than the other units and has the potential to command above-market rents due to its premium size and exclusivity. All units are designed with high-end condo-quality finishes, including stainless steel appliances, modern cabinetry, in-unit washers and dryers, large windows that allow for ample natural light, and spacious layouts. The property’s MU-4 zoning designation provides flexibility for potential future mixed-use operating plans for the property. The Investment Opportunity 1915 Benning Road NE is a unique investment opportunity as a luxury condo building where an investor can either rent the units at top of the market rates, or sell the individual condo units. The option to sell the individual condo units limits risk for the investor and provides another option for future exit strategy. This newly built, high-end multifamily asset features luxury condo finishes, enhancing its appeal to renters seeking modern living spaces. Additionally, the property is being offered 100% vacant and is exempt from the District's Tenant Opportunity to Purchase Act (TOPA), allowing for an expedited acquisition process. This combination of factors makes 1915 Benning Road NE a particularly compelling investment opportunity. The ongoing revitalization of the surrounding neighborhood, driven by major infrastructure improvements and commercial developments, continues to attract new residents and businesses. With its proximity to key economic hubs such as Union Market, the H Street Corridor, and the RFK Stadium redevelopment, the property is positioned for long-term appreciation. As demand for high-quality housing in this area continues to rise, investors stand to benefit from both strong rental income and appreciation in value.