Georgia Builders LLC Acquires Concord Gardens Multifamily In Washington DC For $4.5M

The multi-family property located at 5912 13th Street Northwest, Washington, DC was sold for $4,500,000. The asset consists of 70 units with a price per unit of $64,286. Originally built in 1936, this multi-family complex faced significant challenges including high vacancy rates and Chapter 11 issues at the time of sale.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,500,000
• Units: 70
• Price Per Unit: $64,286
• Buyer: Georgia Builders, LLC
• Broker: Ryan Murray - Marcus & Millichap

Ryan Murray of Marcus & Millichap represented the seller in this transaction. Georgia Builders, LLC plans to undertake a full rehabilitation of the property with a focus on restoring affordable housing in the area, contributing to local housing stability.