Marcus & Millichap has arranged the sale of a small multifamily portfolio at 6145-6149 Kansas Ave. NE in Washington, D.C.’s Riggs Park neighborhood. The asset traded for $1.3 million, according to the brokerage. The property comprises three contiguous, two-story buildings that together total 9,500 square feet. Each building contains four apartments, for a combined 12 one-bedroom units.
The assets are located in Northeast Washington, D.C., in a residential area near the Maryland border. The site offers proximity to several institutional and redevelopment anchors, including the Catholic University of America and the Parks at Walter Reed project. Transit access is provided by the nearby Fort Totten Metro station, which connects riders to both the Green and Red Lines of the Washington, D.C. rail system.
Marcus & Millichap reported that multifamily rentals in this part of the city are not abundant. John Slowinski, associate director of investments in the firm’s Washington, D.C. office, noted that rental properties are in short supply in this pocket of the Manor Park and Brightwood submarket, characterizing the sale as a relatively uncommon opportunity for investors to acquire scale in the immediate area. The portfolio’s configuration of three adjacent low-rise buildings may appeal to investors seeking smaller assets that can be operated together.
The property features 12 one-bedroom units, and Marcus & Millichap indicated that some of these apartments could potentially be converted into two-bedroom layouts. While no specific renovation or repositioning plan was disclosed, the mention of possible unit reconfiguration suggests there may be flexibility in how future ownership can approach the asset’s interior program, subject to their own business plan and any applicable regulations.
The seller was identified as 76 M Inc. Marcus & Millichap’s investment sales team exclusively marketed the property on behalf of the seller. The assignment was handled by Slowinski along with colleagues Ryan Murray and Marty Zupancic. The team represented the seller throughout the marketing and transaction process.
The sale was completed through a Chapter 11 bankruptcy process. That structure indicates the transaction took place within a court-supervised framework designed to address the seller’s financial reorganization. No additional details about the bankruptcy proceedings, the court process, or the buyer’s identity were disclosed in the announcement.
Beyond the purchase price and building size, no further financial information was provided. The report did not include cap rate, debt terms, or details on any planned capital improvements. However, the combination of a relatively small infill multifamily asset, tight local rental supply, and proximity to a Metro station and institutional demand drivers highlights why the property could attract investor interest despite the bankruptcy context surrounding the sale.
