|Number of units||227|
227-unit value-add multifamily asset located in Virginia’s vibrant Alexandria submarket. The Property was built in 1965 and boasts an impressive amenity package with the opportunity to add value through in-unit renovations. Situated between I-495 and Duke Street, the Mark offers residents a variety of transit options in and around the DC region via both public transportation and vehicular access. Only a twelve-minute drive from Downtown Washington, DC, the Property is 1.4 miles from the Van Dorn Metro Station and just 4 metro stops or a 14-minute drive to Ronald Reagan Washington National Airport. The Property is just 6.5 miles or a 12-minute drive from Virginia Tech’s new Innovation Campus and 4 metro stops or a 12-minute drive from Amazon HQ2. The Mark is a 0.5 mile walk to Landmark Mall Redevelopment which, when completed, will consist of a 4.2MM SF mixed-use project anchored by Inova Health System hospital. Plans put forth detail between 2,220-2,500 residential units, 285,000-300,000 SF of retail, 200,000-400,000 SF of office and an additional 125,000 SF potentially allocated for hotel.
- Transit Oriented Development - Quick Access to Both I-395 and I-495 and only 1.4 Miles from Van Dorn Metro Station
- Value-Add Opportunity - Achievable Rental Premiums Through In-Unit Renovations
- Significant Demand Drivers - 12.7MM SF of Office, 9.1MM SF of Retail within a 3 Mile Radius
- Exceptional Alexandria Demographics - $114,000 Median Household Income, 60% of Residents Have a Bachelor's Degree or Higher
- Landmark Mall Redevelopment - 0.5 Miles from Landmark Mall Redevelopment - 4.2MM SF Mixed-Use Project
- Close Proximity to Amazon HQ2 and VA Tech's Innovation Campus - 6 Miles from VA Tech's Innovation Campus and 7.5 Miles (4 metro stops) from Amazon HQ2