5010 Southern Ave SE, Washington, DC 20019

Marcus & Millichap is pleased to exclusively represent the owner of 5010 Southern Avenue SE, Washington, DC 20019, a 36-unit multifamily investment opportunity located in the Marshall Heights neighborhood of Southeast Washington, D.C. The property is situated on a spacious 0.73-acre parcel and consists of three separate residential buildings. The asset features all two-bedroom/one-bath apartments catering to long-term renters and families seeking affordable, modern housing options.

The offering delivers immediate in-place cash flow with a compelling projected Year 1 stabilized cap rate of 7.16%, driven by the lease-up of eight currently vacant units. The property underwent a comprehensive renovation in 2015, including new windows, 36 HVAC systems, electrical and plumbing upgrades, a large onsite rental office and full interior renovations across all units. Each apartment is individually metered for electricity, with landlord responsibility limited to water service, supporting efficient operating expenses.

The property is currently owned by a nonprofit organization, resulting in a real estate tax abatement that may be assumable by another nonprofit buyer, providing a potential tax-advantaged ownership structure. Additional income upside exists through the on-site central washer and dryer facilities and the expansive surface parking lot. A full property condition assessment conducted in October 2025 confirms no immediate capital improvement requirements, offering investors a true turnkey acquisition.

Marshall Heights continues to benefit from sustained public and private investment throughout the Anacostia corridor, supported by infrastructure enhancements, residential and commercial redevelopment, and proximity to major employment centers. The property offers convenient access to Southern Avenue, Pennsylvania Avenue SE, I-295, and multiple Metrobus routes, providing strong connectivity to Downtown Washington, D.C., Maryland, and surrounding submarkets. Nearby retail, schools, and community amenities further support long-term tenant demand.

5010 Southern Avenue SE presents a compelling opportunity to acquire a well-located, mid-sized multifamily asset offering recent renovations, attractive yield, operational upside, and long-term growth potential in one of Southeast Washington, D.C.’s evolving residential neighborhoods.