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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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Northeast & Southeast Washington, DC
Berkadia is pleased to present for sale The DC Enterprise Portfolio, featuring 1,075 affordable units in Washington, DC. The properties are offered as a portfolio with 2 MD properties and can be purchased individually or in combination of these properties. Each community is well amenitized and well managed.
The Properties’ Northeast and Southeast quadrants are seeing a boom in development, driving increased residential demand and creating new employment opportunities. The Portfolio already benefits from proximity to public transportation, schools, and essential services, enhancing the appeal to a diverse tenant base. Each property is located within one mile of a Metro station and near a bus station, ensuring easy access to the greater DC area.
THE OPPORTUNITY
1,075
total units
771 sf
avg unit size
$1,350
avg rent
$1.76
AVG Rent/SQFT
828,477 sf
Total Rentable SF
1942-1964
Year Built
THE portfolio
4445 Willard Avenue Suite 1200
Chevy Chase, MD 20815
D.C. OFFICE
Senior Vice President 301.202.3547 david.leopold@berkadia.com
David Leopold
Berkadia Financing
Senior Managing Director 301.202.3553 bobby.meehling@berkadia.com DC, DRE #BR40000206
Robert Meehling
Affordable Senior Managing Director 253.653.3313 brandon.grisham@berkadia.com WA, DRE #26367
Brandon Grisham
Investment Advisors
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Senior Managing Director 614.468.5805 mathew.napolean@berkadia.com
Mathew NapoleOn
Associate Director
240.793.8513
hassan.dixon@berkadia.com
Hassan Dixon
ENTERPRISE DC PORTFOLIO
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*Properties Can Be Acquired Individually
1
2
3
5
4
Year Built - 1942
Total rentable SF - 299,294 SF
Units - 410
Avg Unit Size - 730 SF
Mayfair Mansions
3744 1/2 Hayes Street NE
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Year Built - 1960
Total rentable SF - 192,359 SF
Units - 259
Avg Unit Size - 743 SF
Meadowbrook Run
3647 6th Street SE
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Year Built - 1964
Total rentable SF - 125,592 SF
Units - 156
Avg Unit Size - 805 SF
Arbor View 1212 Southern Avenue SE
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Year Built - 1963
Total rentable SF - 106,260 SF
Units - 134
Avg Unit Size - 793 SF
Cedar Heights 1510 Butler Street SE
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Year Built - 1947
Total rentable SF - 104,972 SF
Units - 116
Avg Unit Size - 905 SF
Wheeler Terrace
1217 Valley Avenue SE
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THE LOCATION
Senior Managing Director 240.396.1090 drew.white@berkadia.com DC, DRE #SP98359700
Drew White
Senior Financial Analyst 206.512.5567 ryley.lewis@berkadia.com WA, DRE #22027158
Ryley Lewis
Managing Director
703.408.7701
ted.hermes@berkadia.com
Ted Hermes
Director
781.801.2378
phil.brannigan@berkadia.com
Phil Brannigan
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1,075
Washington, DC, is facing a significant shortage of affordable housing options, creating a persistent and escalating demand for this portfolio. Additionally, quality, well-maintained affordable housing like this portfolio has a competitive edge, attracting a steady stream of tenants seeking quality housing at accessible price points, and positioning the portfolio for long-term success in the market.
INVESTMENT HIGHLIGHTS
1
Affordable Housing Demand
A wave of new developments, including cutting-edge office spaces, diverse retail establishments, and inviting public outdoor areas surround the portfolio. These enhancements significantly elevate the neighborhood’s appeal, fostering a vibrant community atmosphere and increasing the desirability of the submarkets for prospective residents.
2
Extensive Submarket Redevelopment
Each property is within one mile of a WMATA Metro station and adjacent to a WMATA MetroBus stop, offering residents unparalleled access to the greater Washington, DC area. This optimal transit connectivity not only enhances the convenient lifestyle of the residents but also expands the potential tenant pool by offering easy access to employment, education, and entertainment hubs throughout the region.
3
Excellent Access to Transit
Director 240.396.1088 louis.jacobe@berkadia.com DC, DRE #SP200203315
Louis Jacobe
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
Associate Director 614.796.0218 garret.mater@berkadia.com
GARRET MATER
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