1447 Maryland Ave NE
Washington, DC 20002
Multifamily Property For Sale · 9 Units

The Feldman Group of Marcus & Millichap is pleased to present the exclusive offering of 1447 Maryland Avenue NE, steps from the H Street Corridor in Washington, D.C. 1447 Maryland Avenue NE consists of 3,960 square feet of gross leasable area across two levels, and is situated on a 2,160-square foot lot. The building’s first floor is in need of renovation, but once completed could lend itself very well to retail or office use. The second level consists of two units. The first is a two-bedroom, one-bathroom residential unit, while the second is a studio unit or office space. Both second floor units are in excellent condition and are separately metered for gas and electric. A curb cut from Maryland Avenue NE in front of the building accommodates parking for two vehicles, in addition to street parking in the area around the building. Because the subject property will be delivered 100% vacant at settlement, the potential buyer profile for this property could consist of an owner-operator, investor, or a developer. An owner-operator has the option to occupy the entire building, or just one of the units while renting out the other units to mitigate mortgage costs. Following renovation of the first level, an investor would be in an excellent position to create positive cash flow through lease-up. Finally, a developer could potentially unlock the 7,344 buildable square feet permitted by right, which incorporates the inclusionary zoning and penthouse bonus. 1447 Maryland Avenue NE represents an opportunity for a buyer to invest in a neighborhood with massive appreciation potential. As investors on H Street NE have aggressively pushed east looking for opportunities, development has surged in the immediate area. With millennials and young families moving into the neighborhood, and the extensive schedule of current and planned development, 1447 Maryland Avenue is well-positioned to capitalize on the future growth of the area.