Firoozabadi Group Captures More Market Share

June 30, 2008 - PRLog -- WASHINGTON, DC – The Firoozabadi Group of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment brokerage firm, exclusively listed a 41-unit, multi-family property owned by a private owner in an outstanding location in Washington, D.C. for $5,000,000.

Court Square Apartments’ unique location makes it the closest residential property to Judiciary Square. It is also positioned near the almost developed Dumont and adjacent to a 120 unit apartment property called the Ashton Judiciary Square, which is currently under-construction by the Hanover Company. This new apartment complex is being promoted as a ritzy, upscale, luxurious apartment rental. Court Square can provide an investor upside potential by repositioning this asset into high-end rentals and by adding units or amenities in the spacious 5,000 square foot basement.

“The apartment, office, and retail market in the Judiciary Square/Verizon Center submarkets are extremely strong”, says Ari Firoozabadi, a Senior Associate and Director of Marcus & Millichap’s National Multi Housing Group. “The market boasts some of the highest rents in the city across the board and there are very few, if any, value-add opportunities for private investors like Court Square Apartments. Therefore we expect lots of interest from regional investors”.

Located at 705 4th Street, NW, Washington, DC, the property consists of 41 total apartment units, comprised of 28 studios and 13 one-bedroom, one bathroom apartment flats. The property sits on a 7,125 square foot lot and is located in the Judiciary Square neighborhood, only one block from Judiciary Square Metro. The asset is positioned less than one mile from the FBI Building, National Convention Center, United States Supreme Court building, and right in the heart of the business district, deeming it one of the most attractive locations to reside in.

About Marcus & Millichap:
With more than 1,300 investment professionals in offices nationwide, Encino, Calif.-based Marcus & Millichap is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments. In 2006, the company closed $20.5 billion in transactions. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry’s most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.

www.MarcusMillichap.com/firoozabadigroup

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The Firoozabadi Group is committed to maximizing value for class C/B multifamily assets in the Mid-Atlantic region through intensive local-market research and analysis coupled with comprehensive marketing strategies and highly responsive client services.