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Multifamily

4274 Benning Road NE

4274 Benning Rd NE, Washington, DC 20019

Listing Price: Request For Offer

Number of Units
18
Occupancy
95.0%

Investment Overview

THE OPPORTUNITY

As the exclusive listing agent, Marcus & Millichap is proud to present 4274 Benning Road NE, a 100% vacant 18-unit multifamily property located in the heart of Deanwood, one of the fastest-growing neighborhoods in Washington, DC. Ideally situated less than a five-minute walk from the Benning Road Metro Station, the property benefits from strong rental demand driven by residents commuting to downtown DC. This offering represents an opportunity to acquire an asset with value-add potential in the short, medium, and long term which is supported by the property’s existing scale and condition, favorable unit mix and layouts, strong rental upside, and prime location. The current vacancy allows investors the flexibility to implement moderate to full-scale renovations and reposition the asset to maximize both cash flow and long-term value.


THE ASSET

4274 Benning Road NE is an 18-unit, 16,281 gross square foot multifamily building located in the Deanwood neighborhood of Northeast Washington, DC. Spanning two stories, the property is comprised entirely of one-bedroom, one-bathroom units. The property is 100% vacant, presenting a unique value-add opportunity for investors to perform necessary renovations and execute on their own creative lease-up strategy. The existing units are larger than average comparable units at an estimated 750 square feet. Following renovations, one-bedroom units have the potential to rent for at least $1,450, and if units are converted to two-bedroom units, they could be rented for over $2,000. In addition, the property includes a large basement space, which provides investors with the opportunity to recapture underutilized square footage by developing additional revenue-generating units or creating attractive amenity spaces.


THE LOCATION

4274 Benning Road NE is well-positioned for future appreciation in value and rental growth as it is located in one of the fastest-growing neighborhoods of Washington, DC. The property is also located in an Opportunity Zone, which presents an attractive opportunity for a buyer to invest in a designated low-income community with the goal of creating and preserving quality affordable housing. The Deanwood neighborhood has newly constructed residential and commercial developments along Minnesota Avenue near the Deanwood Metro Station, Nannie Helen Burroughs Avenue, Benning Road, and Eastern Avenue, which will continue to drive rental demand as even more restaurants, retail, and jobs are brought to the area. The property is also situated in a transit-oriented location, as it is just a five-minute walk from the Benning Road Metro Station (Blue and Silver Line Service), and has direct access to the entire DMV through Benning Road NE, East Capitol Street NE, and Interstate 295.

Investment Highlights

  • 100% Vacant
  • TOPA-Free Asset
  • Recapturable Space for Increased Revenue
  • Steps from Benning Road Metro
  • Value-Add Opportunity
  • Located in an Opportunity Zone

Exclusively Listed By

  • John Slowinski

    Associate Director Investments

    (202) 536-3780

    Email John

    License(s): MD: 5002965, DC: SP200205349

    Washington, D.C.

  • Marty Zupancic

    Senior Managing Director Investments

    (202) 536-3788

    Email Marty

    License(s): MD: 631902, VA: 0225 187032, DC: SP98368225

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Managing Director / Market Leader

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Financing By

Multifamily

4274 Benning Road NE

Listing Price: Request For Offer

Number of Units
18
Occupancy
95.0%

Investment Highlights

  • 100% Vacant
  • TOPA-Free Asset
  • Recapturable Space for Increased Revenue
  • Steps from Benning Road Metro
  • Value-Add Opportunity
  • Located in an Opportunity Zone

Investment Overview

THE OPPORTUNITY As the exclusive listing agent, Marcus & Millichap is proud to present 4274 Benning Road NE, a 100% vacant 18-unit multifamily property located in the heart of Deanwood, one of the fastest-growing neighborhoods in Washington, DC. Ideally situated less than a five-minute walk from the Benning Road Metro Station, the property benefits from strong rental demand driven by residents commuting to downtown DC. This offering represents an opportunity to acquire an asset with value-add potential in the short, medium, and long term which is supported by the property’s existing scale and condition, favorable unit mix and layouts, strong rental upside, and prime location. The current vacancy allows investors the flexibility to implement moderate to full-scale renovations and reposition the asset to maximize both cash flow and long-term value. THE ASSET 4274 Benning Road NE is an 18-unit, 16,281 gross square foot multifamily building located in the Deanwood neighborhood of Northeast Washington, DC. Spanning two stories, the property is comprised entirely of one-bedroom, one-bathroom units. The property is 100% vacant, presenting a unique value-add opportunity for investors to perform necessary renovations and execute on their own creative lease-up strategy. The existing units are larger than average comparable units at an estimated 750 square feet. Following renovations, one-bedroom units have the potential to rent for at least $1,450, and if units are converted to two-bedroom units, they could be rented for over $2,000. In addition, the property includes a large basement space, which provides investors with the opportunity to recapture underutilized square footage by developing additional revenue-generating units or creating attractive amenity spaces. THE LOCATION 4274 Benning Road NE is well-positioned for future appreciation in value and rental growth as it is located in one of the fastest-growing neighborhoods of Washington, DC. The property is also located in an Opportunity Zone, which presents an attractive opportunity for a buyer to invest in a designated low-income community with the goal of creating and preserving quality affordable housing. The Deanwood neighborhood has newly constructed residential and commercial developments along Minnesota Avenue near the Deanwood Metro Station, Nannie Helen Burroughs Avenue, Benning Road, and Eastern Avenue, which will continue to drive rental demand as even more restaurants, retail, and jobs are brought to the area. The property is also situated in a transit-oriented location, as it is just a five-minute walk from the Benning Road Metro Station (Blue and Silver Line Service), and has direct access to the entire DMV through Benning Road NE, East Capitol Street NE, and Interstate 295.

Exclusively Listed By

  • John Slowinski

    Associate Director Investments

    (202) 536-3780

    Email John

    License(s): MD: 5002965, DC: SP200205349

    Washington, D.C.

  • Marty Zupancic

    Senior Managing Director Investments

    (202) 536-3788

    Email Marty

    License(s): MD: 631902, VA: 0225 187032, DC: SP98368225

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Managing Director / Market Leader

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

Financing By

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