Etta – New Construction 63 Unit Apartment — Sale in Washington, DC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Washington, DC 20002

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Description

Marcus & Millichap is pleased to present The Etta, a 63-unit, institutional-quality multifamily asset located at 1122 Bladensburg Road NE in Washington, DC. Delivered in 2020, the property represents a rare opportunity to acquire a stabilized, trophy asset with strong in-place income, durable cash flow, and continued rental growth in one of the city’s most rapidly evolving submarkets. The property offers a highly efficient unit mix of one- and two-bedroom residences designed to maximize livability and revenue performance. Units feature condo-quality finishes, expansive floor-to-ceiling windows in select residences, private balconies in premium units, and in-unit washer and dryer systems. These features, combined with a professionally designed amenity package including covered parking, a secure intercom entry system, and a green roof, position the asset to consistently attract well qualified tenants and maintain strong occupancy. The Etta is projected to achieve a Year 1 net operating income of approximately $1.1 million through the lease-up of remaining vacant units and continued alignment of rents with current market levels. The property benefits from demonstrated rental growth across both one- and two-bedroom units, supported by strong tenant demand, low vacancy, and limited competing supply of comparable Class A product in the immediate area. Located in close proximity to the Union Market District and the H Street Corridor, the asset is surrounded by a rapidly expanding base of retail, dining, and entertainment amenities. Continued public and private investment in the surrounding neighborhood has reinforced its position as a premier residential destination, driving consistent leasing velocity and long-term rent growth. With modern construction, minimal deferred maintenance, and operational efficiencies already in place, The Etta offers investors a stable and scalable income stream with limited near-term capital requirements. The combination of high-quality constr

Market Context

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