Vanguard Realty Group's Multifamily Investment Sales Team is pleased to announce their new listing, Crest Apartments. Built in 1972 and sitting on just under 2 acres in Capitol Heights, Maryland, Crest Apartments has a total of 44 units with a breakdown of 22 one bedroom / one bath units, 18 two bedroom one bath units, and 4 three bedroom / one and one-half bath units. The occupancy and operations at Crest Apartments have been well maintained under the current ownership, and is 100% occupied at this time. Although the property was renovated by its previous owner in 2002, additional improvements have been made over the past few years, to include modernized kitchens and windows. The landlord is responsible for payment of all utilities which include electricity, gas, hot water, sewer, and trash. The property also has on site laundry rooms and parking.
Crest Apartments is situated along the southwest side of Marlboro Pike, and is less than one-half mile northeast of Route 4 (Pennsylvania Avenue), a major highway connecting Washington, DC with Maryland. Heading North/Westbound, Pennsylvania Avenue passes through Southeast DC, the US Capitol and beyond. Heading South/Eastbound Route 4 intersects with I-95 and I-495, continuing into Southern Maryland, more specifically Solomon's Island and Lexington Park.
Crest Apartments also has easy access (approximately 1.5 miles) to Maryland Route 214, Central Avenue, and to the Capital Beltway I-495 (approximately 4 miles). The subject property is located in a predominantly residential area and is accessible to nearby retail centers. It is also along a bus route with easy access to the Blue Line Metro Stations Capitol Heights and Addison Road.
Crest Apartments presents a rare opportunity for an astute investor to purchase a strong in-place cash flowing asset located in this high barrier to entry multifamily market, as well as take advantage of attractive financing options available in the market.