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Marcus & Millichap has brokered the sale of V Street Apartments, a vacant, 12-unit multifamily community in the Eckington neighborhood of Northeast Washington, D.C. The asset sold for $775,500.
“We’re pleased to have successfully completed the sale of V Street Apartments through the Chapter 11 bankruptcy process,” said Ryan Murray, Associate. “The sale closed within 30 days of court approval, allowing these units to be renovated and restored to the market to support the community’s growing demand for affordable housing.”
Ryan Murray, Marty Zupancic, John Slowinski and Andrew Pacious, investment specialists in Marcus & Millichap’s Washington D.C. office, represented the seller in the transaction, Marc Albert, Chapter 11 Trustee.
V Street Apartments, located at 401–409 V St. NE, comprises three contiguous, two-story apartment buildings. Built in 1935, the property totals 7,418 square feet and includes 12 one-bedroom, one-bathroom apartments, each approximately 525 square feet.
Read more at Connect CRE.
View V Street Apartments.
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.