Multifamily Property for Sale in Washington, DC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Washington, DC 20002

Description

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 constr

Market Context

This multifamily in Washington, DC is listed for sale. It has been on the market for 65 days. Compare it against other multifamily listings for sale in Washington, DC — <a href="/search/sale/multifamily/district-of-columbia/washington">view the full market</a>.

As of Q3 2017, the Washington D.C. multifamily market showed a 3.7% vacancy rate, rents up 6.7% year over year, and cap rates around 5.7%. Source: Cushman & Wakefield Q3 2017 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Washington D.C.?
About 5.7% as of Q3 2017, per Cushman & Wakefield.
Is the Washington D.C. multifamily market tightening or softening?
Vacancy is around 3.7%, with asking rents rising year over year (Q3 2017).

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