Meridian Hill Park Apartment Sells In TOPA Deal

WASHINGTON, DC–1460 Euclid Street NW, a 26,640 square foot multifamily building sold as an affordable housing redevelopment opportunity. Jubilee Housing, a local affordable housing provider, acquired the community which is located just steps from Meridian Hill Park and the 14th Street Corridor for $6 million through the TOPA process.

Grant Fitzgerald and Marty Zupancic of Marcus & Millichap represented the local seller in the transaction, securing yielded 14 written offers and 49 property tours during the marketing.

The property was built in 1926 and sits on a 7,182 square foot lot which is zoned RA-2. The property was approximately 31.25% occupied at the time of contract and closing.

Jubilee Housing put together a fund to partner with the tenants, allowing them to match the top contract via the TOPA process, Fitzgerald says.

The building sits on the hard corner of Euclid Street NW and University Place NW just East of Meridian Hill Park and West of 14th Street NW.