5906 13th St NW
Washington, DC 20011
Concord Gardens · Multifamily Property For Sale · 70 Units

THE OPPORTUNITY
The Zupancic Group of Marcus & Millichap, as the exclusive listing agent approved by the United States Bankruptcy Court for the District of Columbia, is pleased to present an exclusive offering of Concord Gardens, a 70-unit multifamily community located in the Brightwood neighborhood of Northwest Washington, DC. The sale is subject to a Chapter 11 Bankruptcy process, offering investors a rare opportunity to acquire the asset free from the Tenant Opportunity to Purchase Act (TOPA) process due to the property's bankruptcy status. This exemption is granted under §42-3404.02 of DC code. Concord Gardens provides a unique chance for an investor to acquire a significant footprint in the DC multifamily market with immense future potential.

THE ASSET
Concord Gardens is a multifamily community comprising of five (5) garden-style apartment buildings, totaling 70 units. The community currently operates as five (5) 14-unit apartment buildings, each with 3 stories plus a basement, and totaling 52,440 square feet. The asset sits on a sizeable 40,293-square-foot lot zoned RA-1 on the corner of 13th Street and Military Road. All units are one-bedroom, one-bathroom, and estimated to be 650 square feet per unit. Each building has individual utility systems and space for laundry facilities in the basement. Concord Gardens offers investors substantial value-add potential through strategic upgrades to units and common areas, as well as utility systems. With its prime location near major developments, including The Parks at Walter Reed, the asset is poised to generate significant rental income post-renovation. The asset's potential high-vacancy allows for an immediate opportunity to perform renovations and reposition the asset to meet neighborhood demand.

THE LOCATION
Situated in the heart of Brightwood, NW DC, Concord Gardens boasts a prime location in a rapidly evolving neighborhood. The nearby Parks at Walter Reed is undergoing a transformative $1 billion redevelopment, set to deliver approximately 3.1 million square feet of mixed-use space, including 2,200 housing units, 130,000 square feet of retail, office space, and ambulatory care facilities. Notably, the highly anticipated 47,000-square-foot Whole Foods Market opened in 2023, alongside popular retailers such as Jinya Ramen Bar and Starbucks, further enhancing the area’s appeal. Additionally, the property is just steps from major thoroughfares like Georgia Avenue and Military Road, offering seamless connectivity throughout Washington, DC, and into Chevy Chase, Bethesda, Silver Spring, and Rock Creek Park.