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1326 Florida Ave NE
Washington, DC 20002
Hendrix · Multifamily Property For Sale
·
45 Units
Investment Highlights
- REO, TOPA-exempt sale on recently built asset
- Strong physical product with proven rent performance
- Walkable location near retail, dining, and entertainment
- Recently constructed, non-rent controlled asset
- Immediate lease-up and NOI growth opportunity
- Two-bedroom heavy unit mix
Executive Summary
The Zupancic Group of Marcus & Millichap is pleased to present The Hendrix, a lender-owned, 45-unit multifamily asset located at 1326 Florida Avenue NE in Washington, DC’s Trinidad neighborhood. The Property qualifies for the new construction TOPA exemption, allowing for a streamlined transaction process and reduced execution risk relative to typical multifamily sales in Washington, DC. Built in 2016, the Property offers a recently constructed, high-quality multifamily asset with modern finishes, in-demand floor plans, and a well-rounded amenity package in one of Northeast DC’s most active rental corridors. The unit mix is comprised primarily of two-bedroom units, with an average unit size of approximately 614 square feet, providing high-demand layouts that cater to a broad renter base. Units feature floor-to-ceiling windows, in-unit washer/dryers, and modern interior finishes, .and are complemented by the building's controlled access, fitness center, laundry facilities, pet washing station, rooftop deck, and off-street parking. The Hendrix is currently achieving average in-place rents above nearby comparables on a per square foot basis, while 10 vacant units provide a clear path for a new owner to drive occupancy and NOI through lease-up and stabilization.
Property Facts
| Sale Type | Investment | Lot Size | 0.23 AC |
| Sale Condition | REO Sale | Building Size | 28,644 SF |
| No. Units | 45 | Average Occupancy | 78% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2016 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.4/1,000 SF |
| Building Class | B | ||
| Zoning | MU-4 | ||
| Sale Type | Investment |
| Sale Condition | REO Sale |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 28,644 SF |
| Average Occupancy | 78% |
| No. Stories | 4 |
| Year Built | 2016 |
| Parking Ratio | 0.4/1,000 SF |
| Zoning | MU-4 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Bay Window
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Wi-Fi
- Linen Closet
- Wheelchair Accessible (Rooms)
- Window Coverings
- Floor to Ceiling Windows
Site Amenities
- Controlled Access
- Property Manager on Site
- Video Patrol
- Dry Cleaning Service
- Grill
- Package Service
- Planned Social Activities
- Trash Pickup - Door to Door
- Wi-Fi
- Bicycle Storage
- Community-Wide WiFi
- Elevator
- Pet Care
- Pet Washing Station
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $1,217 | 322 |
| 1+1 | 4 | $1,720 | 469 - 513 |
| 2+1 | 32 | $2,142 | 513 - 597 |
| 3+2 | 6 | $3,008 | 996 - 1,024 |
Property Taxes
| Parcel Number | 4068-0183 | Improvements Assessment | $12,571,090 |
| Land Assessment | $408,080 | Total Assessment | $12,979,170 |
Property Taxes
Parcel Number
4068-0183
Land Assessment
$408,080
Improvements Assessment
$12,571,090
Total Assessment
$12,979,170
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