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WASHINGTON, DC–1111 Lamont St. NW, a 13-unit apartment property in Columbia Heights, has traded for $3.25 million, or $250,000 per unit.
If that sounds like Class A apartment pricing, you would be correct. However, 1111 Lamont St. is definitely a class B property despite its recent renovations, according to Grant Fitzgerald and Marty Zupancic of Marcus & Millichap, who marketed the property on behalf of the seller, a local private investor.
Marcus & Millichap is the nation’s largest brokerage firm focused exclusively on investment sales. It is based on a simple premise: matching each property with the largest pool of pre-qualified investors. With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research, and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more about the company, please visit www.MarcusMillichap.com.