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Report Points to Opportunities in DC Multifamily Investment

WASHINGTON, DC-Rents are forecasted to rise 4.4% this year compared to last, as the condo market and single-family homes become unattainable for some.

By Erika Morphy | Updated on October 26, 2006

(To read more on the multifamily market, click here.)

WASHINGTON, DC-Rockville, Fairfax County and Loudoun County are among the areas multifamily investors with a long range outlook might want to consider in the DC area, according to a new report by Marcus & Millichap. There are still numerous opportunities for multifamily investment here, the report says. One avenue, of course has been the condo conversion route. Like it other markets though condo conversions have fallen off in the DC area this year.

Marcus & Millichap suggests that investors concentrate instead on the huge demand for rental housing space that has built up over the last few years as more people have been priced out of the single family and condo market. The median price for condos in the area, it notes, is $350,000 per unit, which does little to fulfill unsatisfied housing demand.

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