Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner in the sale of 5412 1st Street NW, Washington, DC 20011, a MU-4 zoned multifamily development opportunity located on a 3,833 SF parcel within the Brightwood/Upper Petworth submarket of Northwest Washington, DC. The site is fully entitled with approved building plans for a twenty-unit, 13,158 SF multifamily development consisting of four two-bedroom/two-bath units, fourteen one-bedroom/one-bath units, and two penthouse units featuring two bedrooms and 2.5 baths. Upon stabilization, the project has the potential to generate over $1.2 million in annual gross rental income based on projected performance. The property is strategically positioned within the Upper Petworth corridor of Northwest Washington, DC, an area that has experienced substantial residential and mixed-use redevelopment in recent years. The submarket benefits from strong neighborhood retail amenities, transit connectivity, parks, and convenient access to Downtown Washington, DC and Silver Spring, Maryland. Additionally, the site is located near the growing retail and restaurant corridors along Kennedy Street NW and Georgia Avenue NW, as well as The Parks at Walter Reed redevelopment. Located approximately 1.5 miles from the property, The Parks at Walter Reed is one of the area’s most transformative neighborhood catalysts. The 66-acre mixed-use redevelopment includes Whole Foods, new restaurants and retail, over 2,200 planned residential units, parks and open space, medical and office uses, and community event programming. The location is well connected via multiple transportation options, including the Fort Totten Metro Station approximately eight blocks away, major bus routes along Georgia Avenue NW, and Capital Bikeshare access, enhancing the property’s appeal for future residents.