Washington Multifamily for Sale - Shaw
Marcus & Millichap is pleased to exclusively present The Adora, a newly constructed mixed-use asset located at 1827 Wiltberger Street NW in the heart of Northwest
Washington, D.C. The property consists of a 43-unit multifamily building positioned above a stabilized first-floor office tenant, offering investors a rare opportunity to
acquire a partially income-producing asset with significant lease-up upside.
Delivering in the fall of 2026, The Adora features 43 newly constructed residential units across the second and third floors, all of which will be delivered vacant, allowing an investor to implement a lease-up strategy from day one and capture current market rents. The unit mix is efficiently designed with modern layouts averaging approximately 475 square feet, appealing to young professionals, students, and urban renters seeking high-quality housing in a centrally located submarket.
The property benefits from immediate in-place income generated by the first-floor office tenant, in the first year of a ten-year lease. This tenant provides a stable revenue
stream to offset carrying costs during lease-up. Based on market rent comparables in the surrounding submarket, projected residential rents average approximately $2,200
to $3,200 per unit, equating to $4.50 to $5.20 per square foot, supporting a strong proforma income profile upon stabilization.
Strategically located just off the U Street Corridor and within close proximity to Howard University, The Adora is positioned in one of Washington, D.C.’s most dynamic
and supply-constrained rental markets. The neighborhood benefits from consistent renter demand driven by a dense population of students, young professionals, and
employees from nearby institutions and major employers. Residents benefit from exceptional walkability and access to an abundance of retail, dining, and entertainment options including the Howard Theatre, 14th & U Street Corridor, and numerous national retailers such as Whole Foods, and Trader Joe’s. The property is also conveniently located near the U Street Metro Station (Green and Yellow Lines), providing direct access to Downtown D.C., Capitol Hill, and Reagan National Airport.
In addition, the submarket continues to experience over $1 billion in recent and planned development, including the transformative Reeves Center redevelopment,
which will deliver new residential units, retail, office space, and cultural venues—further enhancing long-term property values and rental demand in the immediate area.
