3968 Martin Luther King Jr Ave Washington, DC 20032

Property Details for 3968 Martin Luther King Jr Ave

Year built

1941

Property size

3,978 SF

Property type

Commercial real estate

APN

6150-0000-0002

Description

This six-unit apartment building, located at 3968 Martin Luther King Jr Avenue SE, Washington, DC 20032, presents a unique investment opportunity. The property, built in 1941, encompasses 3,978 square feet on a 4,236 square foot lot (APN: 6150-0000-0002). Classified as a Class C multifamily building, it's currently under Chapter 11 bankruptcy proceedings, offering exemption from the Tenant Opportunity to Purchase Act (TOPA). This distressed sale provides a chance to acquire a property in a rapidly developing area of Washington, DC's East of the River submarket. The property is zoned RA-1 and benefits from its proximity to significant ongoing developments like The St. Elizabeths East Campus and Skyland Town Center, representing over $1 billion in investment and featuring substantial retail and residential components. These developments are expected to significantly enhance the area's infrastructure and amenities, boosting the property's long-term value. The building's recent renovations minimize immediate capital expenditure needs. This presents a compelling opportunity for investors seeking a foothold in the growing Washington, DC multifamily market. The sale is subject to the terms and conditions of the Chapter 11 bankruptcy process.