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

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SOLD
$4,500,000

Dc

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MultiFamily
Sold 08/01/2025
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Property Image
SOLD

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

5912 13th Street Northwest

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MultiFamily
Sold 08/01/2025
the dealplayerscompscontact
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Summary

Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

Ryan Murray
Marcus & Millichap
Ryan Murray
8 deals$35.6M volume(301) 404-7965
BROKER
Marcus & Millichap
Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: 08/01/2025 ADDRESS: 5912 13th Street Northwest MARKET: Washington, DC ASSET TYPE: MultiFamily BUYER: Georgia Builders, LLC BROKER: Ryan Murray - Marcus & Millichap SALE PRICE: $4,500,000 UNITS: 70 ~ PPU: $64,286 NOTE: Marcus & Millichap sold Concord Gardens in NW D.C. for $4.5M, despite high vacancy and Chapter 11 challenges, with Georgia Builders planning a full rehab to restore affordable housing. The 70-unit complex, built in 1936, was nearly half vacant at sale; the new owner aims to revitalize the property and support local housing stability.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55