D.C.-based Urban Investment Partners LLC has acquired The New Hampshire House apartment building at 3728 New Hampshire Ave. NW for $2.1 million.
UIP plans to renovate the 21-unit apartment building, which sits adjacent to the Georgia Avenue/Petworth Metro stop.
The sales price was a record comp for an occupied Class C residential building in the Petworth submarket, according to Marcus & Millichap Real Estate Investment, which represented the seller.
UIP has made several apartment property acquisitions in the District, most recently paying $26 million, along with partner Infinity Real Estate, for a 114-unit apartment building at 1841 Columbia Road NW.
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.