Historical Multifamily Sale Listing - Minnesota Avenue Apartment Homes

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Minnesota Avenue Apartment Homes

3548-3550 Minnesota Avenue SE, Washington, DC 20019

N/A

9 Units | Multifamily

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Property Exterior, Front

Multifamily Property - Off Market

Price:
N/A
No. Units:
9
Building Size:
5,850 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
No. Stories:
2
Year Built:
1941
Lot Size:
5,787 SF
APN / Parcel ID:
5419-0000-0012
Listing ID
16114877
Last Updated
over 1 year ago

Highlights

  • Vacant Building
  • Most Units are Fully Renovated
  • Self-Contained for Electricity
  • Electrical Heavy Up
  • Gated On Site Parking Lot
  • Six Blocks South of Minnesota Avenue Metro

Description

The Firoozabadi Group of Marcus & Millichap is pleased to represent Adams National Bank in the disposition of Minnesota Avenue Apartment Homes. Located at 3548-3550 Minnesota Avenue SE, this vacant nine-unit building is positioned just South of East Capitol Street in the heart of Ft. Dupont Park. It is comprised of nine: two bedroom apartment homes that are approximately 700 SF. This asset presents an investor with the opportunity to acquire a vacant, value-add asset and the opportunity to capitalize on the investment by capturing top of the market rents.

Minnesota Avenue Apartment Homes is a 5,000 SF gated building positioned at the corner of Minnesota Avenue and B Street SE. There is a bus stop directly in front of the property which takes residents to the Minnesota Avenue Metro Station, located less than one mile North of the property. It is also close to the Benning Heights Metro Station and I- 295, making the buildings location convenient for commuters. The owners recently replaced the exterior gate and also paved a new on-site parking lot. Within the past few months, the owner has renovated seven units with brand new kitchen cabinets and hard wood floors.

Minnesota Avenue Apartment Homes is located less than 2 miles West of the Eastgate Family Housing Development. Located on Benning Road, THC Affordable Housing Corp has teamed up with DC Housing Authority to build two: 79 unit apartment buildings, 158 townhomes, and 20 detached single family dwellings on a 17 acre site. The Department of Transportation is planning on developing a pedestrian walkway on Benning Road with access to multiple metrobus routes. Part of the "Great Streets Initiative" will include the development of the land parcels adjacent to the Minnesota Avenue Metro Station. Located less than one mile North of the subject property, the city has proposed plans to develop a 227,000 SF building which will serve as the headquarters for the Department of Employment Services. This development will also include 8,000 SF of ground floor retail and 186,000 SF of above grade parking garage. The city also plans to build a new 20,000 SF library, a multi-family development which will include 1,500 additional units, a 500,000 SF office building and 30,000 SF of retail.

Map of 3548-3550 Minnesota Avenue SE, Washington, DC 20019 (District of Columbia County)

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Created 2/22/2009