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Multifamily

4206 Washington Boulevard

4206 Washington Blvd, Arlington, VA 22201

Listing Price: $1,400,000

Cap Rate
2.12%
Number of Units
4
Occupancy
100.0%
Price/Unit
$350,000
Price/Gross SF
$459.02
Gross SF
3,050

Investment Overview

OFFERING OVERVIEW Marcus & Millichap is pleased to exclusively present for sale 4206 Washington Boulevard, a 1960’s colonial-style, 3,050-square-foot apartment building located in the highly sought-out Ballston neighborhood of Arlington, Virginia. The property features four apartment units: two three-bedrooms, one one-bedroom, and one studio unit. The average rent is 15 percent below market, and each lease is month-to-month, allowing an investor to increase the building’s cash flow immediately upon purchase. There are only a handful of four-unit apartment buildings in the RB corridor, and Arlington, making this an extremely rare investment opportunity in a high-growth and high-barrier-to-entry submarket. LOCATED IN A TRANSIT-ORIENTED SUBMARKET The property is ideally situated on Washington Boulevard in the Ballston Neighborhood of Arlington, VA, providing easy access to major highways, bus routes, and metro stations, which are only two blocks away or a five-minute walk. The variety of transit options ensures tenants a reasonable commute to work throughout the DC Metro area. Rental demand in this submarket is driven by tenants seeking a live, work, play lifestyle as the property is just a few blocks from restaurants, grocers, bars, cafes, fitness centers, and parks. VALUE-ADD INVESTMENT OPPORTUNITY 4206 Washington Boulevard is the perfect value-add investment opportunity for yield-driven investors looking to acquire a property in a blue-chip neighborhood. A prospective purchaser can acquire the property all-cash or with a low-leverage loan and quickly reposition the property, as all the leases are month-to-month. Once the property is vacant, an investor should expect to spend roughly $135k in capital expenditures. Once the renovations are complete and the building is stabilized, an investor should expect to achieve approximately $8,500 in gross monthly rents. After accounting for other income (parking and pet fees of $9,600 annually), Year One Gross Potential Income (GPI) should total $102,000.

Investment Highlights

  • Rent Growth Potential
  • In the Direct Path of Amazon HQ2
  • Located Near Major Employers
  • Walkable Lifestyle
  • Located in the Ballston Neighborhood of Arlington County
  • Major Thoroughfares & Highways

Exclusively Listed By

Listing Price: $1,400,000

Cap Rate
2.12%
Number of Units
4
Occupancy
100.0%
Price/Unit
$350,000
Price/Gross SF
$459.02
Gross SF
3,050

Investment Highlights

  • Rent Growth Potential
  • In the Direct Path of Amazon HQ2
  • Located Near Major Employers
  • Walkable Lifestyle
  • Located in the Ballston Neighborhood of Arlington County
  • Major Thoroughfares & Highways

Investment Overview

OFFERING OVERVIEW Marcus & Millichap is pleased to exclusively present for sale 4206 Washington Boulevard, a 1960’s colonial-style, 3,050-square-foot apartment building located in the highly sought-out Ballston neighborhood of Arlington, Virginia. The property features four apartment units: two three-bedrooms, one one-bedroom, and one studio unit. The average rent is 15 percent below market, and each lease is month-to-month, allowing an investor to increase the building’s cash flow immediately upon purchase. There are only a handful of four-unit apartment buildings in the RB corridor, and Arlington, making this an extremely rare investment opportunity in a high-growth and high-barrier-to-entry submarket. LOCATED IN A TRANSIT-ORIENTED SUBMARKET The property is ideally situated on Washington Boulevard in the Ballston Neighborhood of Arlington, VA, providing easy access to major highways, bus routes, and metro stations, which are only two blocks away or a five-minute walk. The variety of transit options ensures tenants a reasonable commute to work throughout the DC Metro area. Rental demand in this submarket is driven by tenants seeking a live, work, play lifestyle as the property is just a few blocks from restaurants, grocers, bars, cafes, fitness centers, and parks. VALUE-ADD INVESTMENT OPPORTUNITY 4206 Washington Boulevard is the perfect value-add investment opportunity for yield-driven investors looking to acquire a property in a blue-chip neighborhood. A prospective purchaser can acquire the property all-cash or with a low-leverage loan and quickly reposition the property, as all the leases are month-to-month. Once the property is vacant, an investor should expect to spend roughly $135k in capital expenditures. Once the renovations are complete and the building is stabilized, an investor should expect to achieve approximately $8,500 in gross monthly rents. After accounting for other income (parking and pet fees of $9,600 annually), Year One Gross Potential Income (GPI) should total $102,000.

Exclusively Listed By

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