The Alcott VA
Update
10/31/23
Berkadia Lists 132 Unit Arlington Multifamily
Berkadia is pleased to present the sale of Gables 12 Twenty One (the “Property”), a 132-market rate unit community located in Arlington, VA, just a 5-minute walk from the Rosslyn-Ballston Corridor. The property provides residents walking access to the hundreds of shops and restaurants along Wilson Boulevard and Clarendon Boulevard headlined by two of Northern Virginia’s prime destinations, downtown Clarendon and Ballston Quarter. The Property’s surroundings are flush with strong employment demand drivers between the Rosslyn-Ballston Corridor’s 26M square feet of office (5-minute walk), home to some of the most prestigious private-sector firms in the DC metro area, Washington D.C.’s 130M square feet of office (5-minute drive), and the Pentagon’s 25,000 employees (3-minute metro). The nearby employment base and talent pool have seen tremendous large-scale investment adding to National Landing’s 13M square feet of office with Amazon HQ2’s newly delivered campus (2 stops/ 5 minutes on the Blue Line Metro) and the $1B incoming Virginia Tech Innovation Campus (5 stops/ 8 minutes on the Blue Line Metro). Gables 12 Twenty One sits at the pinnacle location for live, work, play in Northern Virginia.
These major demand drivers are reflected in the surrounding area’s impressive renter demographics that consist of $147,000 average household income, 84% achievement of a bachelor’s degree, and 33% of the population working in professional or business services within a one mile radius. These outstanding demographics are reflected at the Property with a high concentration of employers from Georgetown University, Deloitte, Ernst & Young, among other prestigious employers with a Property-level average income of $125,000+.
Gables 12 Twenty One is an exceptional investment opportunity with consistent in-place cash flow and strong historical occupancy. The Property presents an opportunity to purchase at below replacement cost with value-add and significant market rent upside.
More information about this opportunity can be found here.
