Multifamily Property for Sale in Capitol Heights, MD

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Capitol Heights, MD 20743

Description

Marcus & Millichap is pleased to present Highland Ridge, a 196-unit multifamily community located in Capitol Heights/Coral Hills, Maryland, directly adjacent to the Washington, DC border. The offering presents a rare opportunity to acquire a recently renovated asset with a clear path to stabilization. Highland Ridge consists of 231,800 gross square feet across multiple buildings and has recently undergone more than $1,800,000 in capital improvements. The community benefits from 120 on-site parking spaces, upgraded electrical systems, on-site amenities, and a spacious, high-demand unit mix averaging 842 square feet. With 85 current vacancies, recently completed renovations and proximity to major employment centers, retail, entertainment (direct access to downtown DC and National Harbor) and several major commuter corridors, the property is ideally positioned with a clear path to long term stabilization. Investment Highlights: • Over $1,800,000 in recent capital improvements • Spacious high-demand unit mix • Clear path to long-term stabilization • 120 off-street parking spaces • On-site laundry facilities and renovated management office • Direct access to major commuter corridors • Walkable access to retail and amenities • Proximity to major retail and entertainment

Market Context

This multifamily in Capitol Heights, MD is listed for sale. It has been on the market for 66 days. Compare it against other multifamily listings for sale in Capitol Heights, MD — <a href="/search/sale/multifamily/maryland/capitol-heights">view the full market</a>.

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