The Hendrix — Sale in Washington, DC

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

Description

Marcus & Millichap is pleased to present The Hendrix, a lender-owned, 45-unit multifamily asset located at 1326 Florida Avenue NE in Washington, DC’s Trinidad neighborhood. The Property qualifies for the new construction TOPA exemption, allowing for a streamlined transaction process and reduced execution risk relative to typical multifamily sales in Washington, DC. Built in 2016, the Property offers a recently constructed, high-quality multifamily asset with modern finishes, in-demand floor plans, and a well-rounded amenity package in one of Northeast DC’s most active rental corridors. The unit mix is comprised primarily of two-bedroom units, with an average unit size of approximately 614 square feet, providing high-demand layouts that cater to a broad renter base. Units feature floor-to-ceiling windows, in-unit washer/dryers, and modern interior finishes, .and are complemented by the building's controlled access, fitness center, laundry facilities, pet washing station, rooftop deck, and off-street parking. The Hendrix is currently achieving average in-place rents above nearby comparables on a per square foot basis, while 10 vacant units provide a clear path for a new owner to drive occupancy and NOI through lease-up and stabilization. Investment Highlights: • REO, TOPA-exempt sale on recently built asset • Recently constructed, non-rent controlled asset • Strong physical product with proven rent performance • Immediate lease-up and NOI growth opportunity • Walkable location near retail, dining, and entertainment • Two-bedroom heavy unit mix

Market Context

This multifamily in Washington, DC is listed for sale. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Washington, DC — view the full market.

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