- Description
- Details
Transwestern’s Mid-Atlantic Multifamily Group, as exclusive agent, is pleased to offer an opportunity to acquire Queenstown Apartments (the “Property”), a 1062-unit garden-style Naturally Occurring Affordable Housing (NOAH) investment opportunity situated in a Qualified Census Tract (QCT) that has been owned by the same ownership group for over 45-years and is ideally situated in the Mount Rainier/Hyattsville MD-Washington, DC Corridor in Prince George’s County, Maryland.
The Property benefits from significant in-place cash flow with excellent historical performance and has been well-maintained for many years by a predominant local investment firm with significant high-cost capital improvements completed. The asset is primed for several investment strategies including being preserved as high-quality workforce housing, a potential LIHTC conversion, or implementation of continued market-rate value add improvements allowing a new ownership group multiple business plan executions to create value.
The Property benefits from significant in-place cash flow with excellent historical performance and has been well-maintained for many years by a predominant local investment firm with significant high-cost capital improvements completed. The asset is primed for several investment strategies including being preserved as high-quality workforce housing, a potential LIHTC conversion, or implementation of continued market-rate value add improvements allowing a new ownership group multiple business plan executions to create value.
- Property Type : Multi-Family
- Listing Size : 792,165
- Year Renovated : 1981
- Year Built : 1949
- Stories : 3
- Typical Floor Size : 264,055
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- Exterior (5)
- Interior (1)
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Available Space (1)
| Suite
|
Attachments | Sqft
|
Rate
|
Type
|
Max Contiguous
|
Lease Type
|
Cam Charges
|
|
|---|---|---|---|---|---|---|---|---|
| 1062 | 792,165 | Sale |