1499 Massachusetts Avenue, Washington, D.C.
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Executive Summary
Opportunity to acquire TOPA Free 269-unit landmark asset in the iconic Logan Circle neighborhood of Central Washington, D.C.
Gracefully positioned at the intersection of 15th Street and Massachusetts Avenue, this Property offers residents unparalleled pedestrian access to Washington, D.C.’s most vibrant live, work, and leisure destinations. The serene, tree-lined avenues of 15th Street and the verdant expanse of Scotts Circle Park enhance the living experience, while proximity to the coveted 14th Street Corridor and proximate access to the city’s Central Business District further elevates its appeal. The Property is strategically located within the CBD with walkable access to over 160 million SF of office space and over 360,000 jobs.
Within a ten-minute walk, residents find themselves connected to five metro stops, each serving the major lines—Red, Orange, Blue, Silver, Green, and Yellow—ensuring seamless travel across the entire D.C. Metro Area. The Property’s advantageous location near downtown D.C.’s dynamic job market (275,000 total jobs in a 1-miles radius) and its walkability to prominent entertainment hubs such as 14th Street, DuPont Circle, Midtown Center, and CityCenter cultivate one of the most robust renter demographics in the region, reflected in an average household income exceeding $230,000.
MAA Massachusetts Avenue has maintained exceptional occupancy, averaging over 96% during the past three years, and in 2025 achieved a 4.75% premium on renewals with a 63% resident retention rate ahead of the spring and summer peak leasing season. The Property offers substantial rental growth potential, with all units poised for significant value enhancement and ample room for rent premiums compared to surrounding Class A properties.
Investment Highlights
Offered TOPA Free
Offered “TOPA Free”: Offer of Sale submitted to tenants on August 25, 2025 and tenants did not register a Tenant’s Association.
Core Location
Located in the heart of NW D.C. with a walk score of 97. All lifestyle amenities can be accessed on foot – 1 block to 14th Street, 3 blocks from K Street in the CBD, and a short walk to DuPont Circle, CityCenter, Capital One Arena, and Shaw.
Transit Surrounded Location
Located within a 10-minute walk to 5 Metro Stations servicing all major Metro lines. Residents are within 5-stops of Nationals Ballpark, The Wharf, the Rosslyn-Ballston Corridor, Amazon HQ2, and Union Station.
Market Leading Performance
The Property has achieved some of the strongest fundamentals in Washington, D.C. maintaining over 96% average occupancy for the past three years, and in 2025 averaged 63% retention achieving increases of 4.75%.
Clear Value-Add Upside
100% of units offer in-unit value add upside with significant headroom to neighboring Class A rents. Further, this location features extremely high barriers to entry with only one ground-up delivery in the last five years within a 1-mile radius and downtown office conversions ranging from $700K – $1.6M per unit in replacement cost.
Superior Demographics
Extremely strong showing of Washington, D.C.’s superior renter profile at the Property with an average household income of over $232,000, median age of 29, and over 60% of the Property’s reported occupations in Tech, Finance, Healthcare, Real Estate, or Professional Services.
Large Diverse Unit Mix
Large floorplans (883 Avg SF) and 62% of Unit Mix 1BR Den or Bigger (40% of units have Dens). Rare offering in Logan Circle/14th Street Corridor submarket whose average is +/-650 SF.
Unparalleled Connectivity
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DC METRO
4445 Willard Avenue
Suite 1200
Chevy Chase, MD 20815
INVESTMENT SALES
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
703.987.0874
[email protected]
BRIAN GOULD
Managing Director
917.297.7551
[email protected]
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