Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 1340 21st Street NW, a 10-unit apartment property located in Washington, D.C.
“Our team executed a highly competitive marketing process, generating multiple offers while successfully navigating D.C.’s TOPA requirements,” said Lorenzo Wooten, Jr., CCIM, first vice president investments. “This transaction underscores our ability to create win-win outcomes for both sellers and buyers in D.C.’s dynamic multifamily market.”
Wooten and Jacob Krens, investment specialists in Marcus & Millichap’s Washington D.C. office, had the exclusive listing to market the property on behalf of the seller, O Street Corporation.
Built in 1910, the three-story property features a mix of studio, one- and two-bedroom units across 6,025-square-foot. Recent renovations include a new roof, upgraded electrical and plumbing systems, newer HVAC systems, and modernized appliances. Located on 21st Street, one block from Dupont Circle and two blocks from the Metro, the property benefits from one of D.C.’s highest rental markets, strong investor demand and long-term value appreciation.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
