15/28 Unit Investment Opportunity

Feldman Ruel is pleased to present the opportunity to acquire a portion of the condominium units located at 450 Condon Terrace SE in the emerging Congress Heights neighborhood of Washington, D.C. This offering includes 15 fully occupied units out of the total 28 in the building. The unit mix is comprised of 12 one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units. Recent capital improvements include interior and exterior paint, window and door replacement, and parking lot site work. The TOPA process for acquiring condominiums in D.C. is more efficient than purchasing conventional multifamily properties, facilitating a faster closing time. The subject offering provides controlling interest within the condominium association. A new owner may have the opportunity to acquire additional units in the building increasing operational efficiencies. The Congress Heights neighborhood is experiencing significant growth due to recent and proposed developments, including the Entertainment and Sports Arena and St. Elizabeth's East Campus, which are expected to drive future economic growth and increase property values in the area.