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39 Mississippi Ave SE
Washington, DC 20032
Multifamily Property For Sale
·
21 Units
EXECUTIVE SUMMARY
Marcus & Millichap presents for sale the multi-family investment opportunity located at 39 Mississippi Avenue SE in Washington, DC. This well-positioned, 21 unit garden style apartment building offers a balanced mix of one- and two- bedroom units, appealing to a wide tenant demographic. The property maintains a stable occupancy rate with a combination of vouchered and market rate tenants, ensuring a consistent revenue stream, despite an average allowable rent of approximately $1,300 per month under rent control. Zoned R-3, the asset is well-aligned with long term residential demand and presents significant upside potential with the ability to add three basement units with minimal construction.
PROPERTY FACTS
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 8.34% | Building Size | 16,520 SF |
| No. Units | 21 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment | Parking Ratio | 0.91/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | R-3 - Low to medium density residential development. | ||
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 8.34% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 16,520 SF |
| No. Stories | 4 |
| Year Built | 1953 |
| Parking Ratio | 0.91/1,000 SF |
| Zoning | R-3 - Low to medium density residential development. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Refrigerator
- Oven
- Range
- Carpet
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
| 2+1 | 7 | - | 1,000 |
PROPERTY TAXES
| Parcel Number | 6151-0813 | Improvements Assessment | $891,500 |
| Land Assessment | $408,120 | Total Assessment | $1,299,620 |
PROPERTY TAXES
Parcel Number
6151-0813
Land Assessment
$408,120
Improvements Assessment
$891,500
Total Assessment
$1,299,620
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