Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner in the sale of a multi-family portfolio consisting of fifteen renovated condo/townhomes located in the “Highland Condos at Landover” subdivision in Hyattsville, Maryland. Situated in Prince George’s County, this is a unique opportunity to acquire 15 bi-level, renovated condo/townhome units with strong cash flow. The portfolio offers an attractive unit mix of three 3-bedroom/1.5-bath townhomes, seven 2-bedroom/1.5-bath townhomes, two 2-bedroom/2-bath townhomes, and three 1-bedroom/1-bath townhomes. Each unit has undergone recent upgrades, and the condominium association covers exterior building maintenance, including the roof, siding, windows, and landscaping. This investment offers a compelling 7.12% CAP rate and strong cash-on-cash returns in a submarket recognized for stability. Each unit features updated kitchens and bathrooms, hardwood flooring, forced-air heating and cooling, and in-unit washers and dryers. The property is well positioned to benefit from the strong economic, demographic, and infrastructure growth of downtown Largo and Washington, D.C. Residents enjoy convenient access to two nearby Metrorail lines (Orange and Blue) that provide direct connections to federal agencies, Capitol Hill, major universities, and private sector employers. The Highland Condos at Landover is in a rapidly growing area experiencing strong rental demand due to its proximity to Washington, D.C., downtown Largo, the University of Maryland Capital Region Medical Center (3 miles), and Woodmore Town Center (2 miles). These homes appeal to working professionals and government employees seeking affordable housing options outside the city core. The submarket’s average effective rent of $1,720 per month is significantly below the D.C. metro average of $2,280, creating room for future rent growth.