OPPORTUNITY TO ACQUIRE A 325-UNIT LUXURY MIXED-USE ASSET LOCATED IN WASHINGTON, D.C.'S HILL EAST NEIGHBORHOOD JUST STEPS FROM CAPITOL HILL AND A SHORT WALK TO THE BLUE, SILVER, AND ORANGE METRO LINES.
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Summary
Berkadia is pleased to present the opportunity to purchase Beckert’s Park Apartments, a 325-unit asset built in 2020. Situated in the Hill East pocket of Capitol Hill, one of Washington, DC’s most vibrant and historic areas, Beckert’s Park Apartments (the “Asset” / “Property”) offers exceptional transit connectivity. It is only a 4-minute walk from Potomac Ave Metro Station and a 10-minute walk from the Eastern Market Metro Station, both providing access to the Blue, Silver, and Orange Lines. This connectivity ensures residents have easy access to the city’s thriving employment centers and cultural attractions. The Asset is strategically located just two Metro stops away from The Capitol which is home to a wide array of private and public employers such as the Smithsonian Institute, Jones Day, WMATA Headquarters, lobbying firms and other notable employers and foundations.
Capitol Hill is renowned for its historic charm, bustling markets, and proximity to key government institutions, making it a highly desirable place to live. Additionally, Beckert’s Park Apartments is just a 10-minute drive from the Navy Yard submarket, which has experienced a construction boom since the Nationals baseball team opened their stadium in 2008. This area has seen significant Class A office projects completed, offering over 3.1 million square feet of office space. The Navy Yard is home to several key employers, including Lockheed Martin (22k SF), Booz Allen Hamilton (30K SF), and CACI (23k SF), enhancing the appeal of Beckert’s Park Apartments for professionals seeking convenient access to work and leisure.
Located in Washington D.C., a city known for its dynamic growth, Beckert’s Park Apartments is poised for exceptional projected rent growth as there have been limited new deliveries in the area since 2020, ensuring sustained demand for quality housing options. There are currently no anticipated deliveries in the immediate submarket through 2029, providing the opportunity for exceptional rent growth as demand continues to outpace an increasingly constrained supply.
Unit Mix Summary
Investment Highlights
Below Replacement Cost
Beckert’s Park Apartments is offered below replacement cost, providing a unique opportunity for investors to acquire an asset located in one of the most desirable submarkets in the nations Capitol.
Mark to Market Opportunity
Immediate submarket comparisons indicate potential for additional rent headroom exceeding $900 per unit. Over the past 12 months, gross lease rents on renewals have averaged a 5.8% increase, while new leases have seen an average gross rental increase of 7.5%.
Luxury Amenities
Highly amenitized building with pool with outdoor dining area, clubroom with catering kitchen, state-of the- art fitness center, game room, multifunctional sport court, BBQ & picnic area, and a dog wash & dog park.
Limited Supply Pipeline
After years of steady delivery activity, Capitol Hill’s supply pipeline has come to a standstill – with no new deliveries scheduled through 2030. As demand continues to outpace an increasingly constrained supply, the submarket is poised for sustained rent growth. This dynamic is further compounded by Capitol Hill’s historically limited apartment stock, leaving Beckert’s Park among a rare set of options in one of DC’s most desirable submarkets.
Walkable to Metro, Eastern Market, & US Capitol
Steps from Lincoln Park (6-minute walk), Barracks Row’s renowned dining and entertainment (8-minute walk), Eastern Market (11-minute walk), and the US Capitol (14-minute walk).Perfectly positioned in the heart of Capitol Hill, residents enjoy immediate access to some of Washington DC’s most iconic destinations.
100% Leased Retail
The Property has 8,255 SF of retail and is now fully occupied with Atlas Doghouse, Capital Healthcare C, and F45 Training Capitol Hill. (Safeway & Starbucks are not part of the collateral)
Premier Capitol Hill, DC Location
PHOTO GALLERY
Contact us
DC METRO
4445 Willard Ave., Suite 1200
Chevy Chase, MD 20815
Investment Advisors
BRIAN CRIVELLA
Senior Managing Director
301.580.6685
[email protected]
YALDA GHAMARIAN
Managing Director
240.462.2332
[email protected]
BILL GRIBBIN
Managing Director
301.580.6486
[email protected]
JACK CANEPA
Associate Director
301.941.4629
[email protected]
Mortgage Banking
PATRICK MCGLOHN
Senior Managing Director
301.941.4610
[email protected]
BRIAN GOULD
Managing Director
301.941.4616
[email protected]
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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