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Queenstown Apartments 3301 Chillum Rd 1062 Unit Apartment Building For Sale Mount Rainier, MD 20712
Investment Highlights
- 1,062-Unit Garden-Style NOAH Asset located in a Qualified Census Tract (QCT) in the Mount Rainier/Hyattsville MD–Washington, DC Corridor.
- Strong In-Place Cash Flow with excellent historical performance and significant capital improvements already completed.
- Prime Location in Prince George’s County, offering proximity to Washington, DC and regional connectivity.
- Long-Term Ownership — held by the same investment group for over 45 years, reflecting stability and consistent management.
- Multiple Value Creation Strategies including preservation as workforce housing, LIHTC conversion potential, or market-rate value-add execution.
Executive Summary
Transwestern’s Mid-Atlantic Multifamily Group, as exclusive agent, is pleased to offer an opportunity to acquire Queenstown Apartments (the “Property”), a 1062-unit garden-style Naturally Occurring Affordable Housing (NOAH) investment opportunity situated in a Qualified Census Tract (QCT) that has been owned by the same ownership group for over 45-years and is ideally situated in the Mount Rainier/Hyattsville MD-Washington, DC Corridor in Prince George’s County, Maryland.
The Property benefits from significant in-place cash flow with excellent historical performance and has been well-maintained for many years by a predominant local investment firm with significant high-cost capital improvements completed. The asset is primed for several investment strategies including being preserved as high-quality workforce housing, a potential LIHTC conversion, or implementation of continued market-rate value add improvements allowing a new ownership group multiple business plan executions to create value.
The Property benefits from significant in-place cash flow with excellent historical performance and has been well-maintained for many years by a predominant local investment firm with significant high-cost capital improvements completed. The asset is primed for several investment strategies including being preserved as high-quality workforce housing, a potential LIHTC conversion, or implementation of continued market-rate value add improvements allowing a new ownership group multiple business plan executions to create value.
Property Facts
| Sale Type | Investment | Lot Size | 32.96 AC |
| No. Units | 1062 | Building Size | 1,037,676 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1949/1981 |
| Building Class | C | Parking Ratio | 0.38/1,000 SF |
| Zoning | R18 | ||
| Sale Type | Investment |
| No. Units | 1062 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 32.96 AC |
| Building Size | 1,037,676 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built/Renovated | 1949/1981 |
| Parking Ratio | 0.38/1,000 SF |
| Zoning | R18 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Window Coverings
Site Amenities
- 24 Hour Access
- Business Center
- Day Care
- Fitness Center
- Playground
- Property Manager on Site
- Tennis Court
- Vintage Building
- Maintenance on site
- Sundeck
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (84)
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $11,714,933 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$11,714,933
Contacts
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Robin Williams -
Dean Sigmon -
Michael D'Amelio -
Transwestern Real Estate Services
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Queenstown Apartments | 3301 Chillum Rd
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