Marcus & Millichap (NYSE: MMI), has announced the sale of 245-249 8th St NE a 13-unit apartment property located in WASHINGTON, DC for $3,800,000 according to Brian C. Hosey, regional manager of the firm’s Washington, D.C. office.

Stacey Milam, an investment specialist in Marcus & Millichap’s Washington, D.C. office, had the exclusive listing to market the property on behalf of the seller, a private investor. Daniel Danesh, an investment specialist in Marcus & Millichap’s Washington, D.C. office, secured and represented the buyer, a limited liability company.

245-249 8th St NE is located at 245-249 8th St NE in WASHINGTON, DC. The subject property was constructed in 1987 and has been meticulously maintained. The property is not subject to rent control, a valuable asset in this high demand area. The prime location and quality of the units allow for premium rents. “The settling of this transaction at an aggressive number, is a testimony to the commitment and tenacity of my team in a frothy marketplace” Stacey Milam said.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.