Plaza Towers

Description
Details

Transwestern’s Mid-Atlantic Multifamily Group, as exclusive agent, is pleased to offer an opportunity to acquire Plaza Towers (the “Property”), a 288-unit high-rise “value-add” opportunity ideally situated in the College Park/Hyattsville submarket in the Washington, DC metro area. The Property is walking distance to Prince George’s Plaza Green Line Metro station, the Target anchored Mall at Prince George’s supporting 1,500 employees, and University Town Center with office and retail supporting 3,500 employees. Less than one mile to University of Maryland at College Park, the exceptional location provides access to some of the region’s largest employment drivers throughout the region and in downtown Washington, DC.

Plaza Towers has been institutionally owned by both previous and current ownership with significant high-cost capital improvements completed positioning the Property for continuation of a successful interior unit renovation program with actual in-place premiums ranging from $100 for a Studio to $300 for a Three-bedroom, supported by common area upgrades including updated lobby, building entry, common area hallways, leasing office and community amenities.

Property Type : Multi-Family
Listing Size : 288