Investment Overview

Marcus & Millichap is pleased to present 315 Decatur Street NW, a four-unit multifamily investment opportunity located in the Petworth neighborhood of Northwest Washington, D.C. The property features an attractive unit mix consisting of one one-bedroom unit, one two-bedroom unit, and two two-bedroom plus den, with units averaging approximately 800 square feet. The building is currently 50% occupied, providing immediate in-place income while offering significant upside through lease-up and strategic interior renovations. This presents investors with the opportunity to stabilize the asset and drive rental income to market levels. 315 Decatur Street NW offers a clear path to value creation. An investor can immediately lease one vacant unit and renovate the remaining units to achieve market rents. Upon stabilization, the property is projected to generate approximately $91,332 in annual gross rent, resulting in an estimated 8.63% CAP rate and a 12.95% cash-on-cash return. The asset is well-suited for both market-rate and voucher tenants, providing flexibility in leasing strategy. The property is located in one of Washington, D.C.’s most established residential corridors, just minutes from the Fort Totten Metro Station, which provides access to the Red, Green, and Yellow lines. This connectivity allows for convenient access to major employment centers throughout the District and surrounding areas. The Petworth neighborhood continues to experience steady residential demand driven by its proximity to downtown, neighborhood retail, and a growing mix of dining and entertainment options.