Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of 1834 & 1844 Central Place NE, Washington, DC — two six-unit apartment buildings offered as a portfolio sale in the Brentwood submarket. Each property contains six one-bedroom units across approximately 5,309 square feet per building. All units are separately metered for gas and electricity and feature individual heat pumps. Two units across the portfolio are currently vacant and move-in ready. While the buildings and units would benefit from moderate cosmetic updates, this value-add opportunity is fully reflected in the offering price. The properties are being sold with the TOPA assignment already completed, providing a streamlined path to closing. Additionally, the assets benefit from a master voucher lease covering 100% of the units, which is fully transferable to a new owner, offering stable and predictable cash flow. Upon stabilization of the vacant units, the portfolio is projected to deliver a 7.59% CAP rate and an 8.2% cash-on-cash return, making this an ideal investment for buyers seeking durable income, low volatility, and strong downside protection through long-term voucher tenancy. Situated within an evolving corridor along New York Avenue NE, the properties are two blocks from Gallaudet University, eight blocks from Union Market, and approximately two miles from Union Station and the proposed Washington Commanders stadium. Ongoing public and private investment in the surrounding area continues to support long-term appreciation and rent stability.