Investment Overview

Marcus & Millichap is pleased to present The Etta, a 63-unit, institutional-quality multifamily asset located at 1122 Bladensburg Road NE in Washington, DC. Delivered in 2020, the property represents a rare opportunity to acquire a stabilized, trophy asset with strong in-place income, durable cash flow, and continued rental growth in one of the city’s most rapidly evolving submarkets. The property offers a highly efficient unit mix of one- and two-bedroom residences designed to maximize livability and revenue performance. Units feature condo-quality finishes, expansive floor-to-ceiling windows in select residences, private balconies in premium units, and in-unit washer and dryer systems. These features, combined with a professionally designed amenity package including covered parking, a secure intercom entry system, and a green roof, position the asset to consistently attract well qualified tenants and maintain strong occupancy. The Etta is projected to achieve a Year 1 net operating income of approximately $1.1 million through the lease-up of remaining vacant units and continued alignment of rents with current market levels. The property benefits from demonstrated rental growth across both one- and two-bedroom units, supported by strong tenant demand, low vacancy, and limited competing supply of comparable Class A product in the immediate area. Located in close proximity to the Union Market District and the H Street Corridor, the asset is surrounded by a rapidly expanding base of retail, dining, and entertainment amenities. Continued public and private investment in the surrounding neighborhood has reinforced its position as a premier residential destination, driving consistent leasing velocity and long-term rent growth. With modern construction, minimal deferred maintenance, and operational efficiencies already in place, The Etta offers investors a stable and scalable income stream with limited near-term capital requirements. The combination of high-quality construction, strong market fundamentals, and sustained rental demand positions the asset as a long-term hold with reliable performance and appreciation potential. The property’s identity is inspired by the legacy of Etta James, reflecting the rich musical heritage of the Atlas District. Design elements throughout the building incorporate subtle references to this influence, including vibrant accents within the common areas and refined finishes within the residences, creating a cohesive living experience that blends culture, design, and modern urban convenience.