Marcus & Millichap announced the sale of 6145-6149 Kansas Ave. NE in Washington, D.C.’s Riggs Park neighborhood. The asset sold for $1.3 million.
“Multifamily rental properties are in short supply in this pocket of the Manor Park and Brightwood submarket, making this a rare investment opportunity,” said John Slowinski, associate director of investments in Marcus & Millichap’s Washington, D.C. office.
Slowinski, Ryan Murray and Marty Zupancic of Marcus & Millichap exclusively marketed the property on behalf of the seller, 76 M Inc. The sale was completed through a Chapter 11 bankruptcy process. The property totals 9,500 square feet across three contiguous, two-story, four-unit buildings. The asset consists of 12 one-bedroom units, some of which could be converted into two-bedroom units.
The property is in Northeast D.C., near the Maryland border. It is close to the Catholic University of America, the Parks at Walter Reed redevelopment project and the Fort Totten Metro station, which serves the Green and Red Lines.
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