Renovated 37 Unit Apartment - Fully Leased 4107 Connecticut Ave NW

Marcus & Millichap is pleased to exclusively present 4107 Connecticut Avenue NW, a 37-unit multifamily building located in The Van Ness Neighborhood of Washington,
D.C. Situated on a 0.18-acre parcel and zoned RA-4, the property features an attractive mix of 21 studio units, 7 one-bedroom units, and 9 two-bedroom units, totaling
approximately 14,400 rentable square feet.
This asset presents a unique opportunity for investors to acquire a stabilized property with 97% current occupancy and a projected Year 1 cap rate of 6.90%. There is an
additional value-add opportunity with optimizing rental rates and operating expenses to align with competitive market rents, and lowering operating expenses which
will enhance the property’s net operating income. The building's amenities include a nine-passenger elevator, a centrally heated and air-conditioned system with fan
coil units in each apartment, and a shared laundry facility on the lower level. Recent upgrades include a new 300 gallon water tank, a new roof, new laundry no
maintenance laundry units, unit updates, and common area renovations.
4107 Connecticut Avenue NW is strategically located one block from the Van Ness-UDC Metro Station (Red Line), offering unparalleled accessibility to the Washington,
D.C. metro area. The property is also across the street from The University of The District of Columbia and one block from The Howard University School of Law as well
as strips of vibrant retail along Connecticut Avenue NW.
With a median household income exceeding $124,000 and a vacancy rate of just 3%, the Van Ness submarket represents one of D.C.’s most desirable rental markets. The
property’s central location, strong occupancy, and value-add potential position this asset as a compelling investment opportunity in a thriving submarket.