Investment Overview

Marcus & Millichap is pleased to present The Hendrix, a lender-owned, 45-unit multifamily asset located at 1326 Florida Avenue NE in Washington, DC’s Trinidad neighborhood. The Property qualifies for the new construction TOPA exemption, allowing for a streamlined transaction process and reduced execution risk relative to typical multifamily sales in Washington, DC. Built in 2016, the Property offers a recently constructed, high-quality multifamily asset with modern finishes, in-demand floor plans, and a well-rounded amenity package in one of Northeast DC’s most active rental corridors. The unit mix is comprised primarily of two-bedroom units, with an average unit size of approximately 614 square feet, providing high-demand layouts that cater to a broad renter base. Units feature floor-to-ceiling windows, in-unit washer/dryers, and modern interior finishes, .and are complemented by the building's controlled access, fitness center, laundry facilities, pet washing station, rooftop deck, and off-street parking. The Hendrix is currently achieving average in-place rents above nearby comparables on a per square foot basis, while 10 vacant units provide a clear path for a new owner to drive occupancy and NOI through lease-up and stabilization.