The Magnolia — Sale in North Bethesda, MD

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: North Bethesda, MD 20852
  • Year built: 1987

Photos

The Magnolia — Sale in North Bethesda, MD, photo 1 of 6
The Magnolia — Sale in North Bethesda, MD, photo 2 of 6
The Magnolia — Sale in North Bethesda, MD, photo 3 of 6
The Magnolia — Sale in North Bethesda, MD, photo 4 of 6
The Magnolia — Sale in North Bethesda, MD, photo 5 of 6
The Magnolia — Sale in North Bethesda, MD, photo 6 of 6

Description

JLL is pleased to present the opportunity to acquire The Magnolia (“the Property”), a 1987 vintage, 236-unit property located in North Bethesda, Maryland. The Magnolia allows future ownership to capitalize on compelling in-place yield with significant value-add upside through the approved Capital Improvement Plan with Montgomery County. The investment opportunity is highlighted by the Property’s continued strong performance with 95% occupancy, limited bad debt, 71% year-to-date retention, and 4%+ growth on lease trade-outs. The Property’s desirable location features access to over 8MM+ SF of retail and 27MM+ SF of office across Bethesda, as well as direct proximity to a prominent employment base and demand drivers via the adjacent Grosvenor-Strathmore Metro Station (Red Line). The Magnolia is conveniently located 2 miles from the National Institute of Health and Walter Reed National Military Medical Hospital with a combined workforce of over 24,000+ employees. In addition, the Property offers direct access to I-270/I-495, Rockville Pike, and top employment hubs in Bethesda, MD, the I-270 Biotech Corridor, and the DC Metro area. The Magnolia also boasts area-leading demographics including $211K+ average household incomes and $920K+ average home value within a three-mile radius. The Property offers a rare value-add acquisition opportunity poised to benefit from continuing a proven renovation program that has been completed on 130 units, as well as inherent future growth within the submarket.

Market Context

This multifamily in North Bethesda, MD is listed for sale. The building dates to 1987. Compare it against other multifamily listings for sale in North Bethesda, MD — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in Maryland