The Flats at Columbia Pike

About The Flats at Columbia Pike

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Flats at Columbia Pike – a value-add asset in Silver Spring, MD outside of Washington, DC. The asset offers immediate scale and has been extremely well maintained with $3.1 million invested in capital improvements including 100% replacement of windows and sliders over current ownership’s three years of operations. The property is being sold with attractive assumable financing with a below market rate and two years of interest only remaining. Approximately 10% of units have been renovated, generating $200 rent premiums, and the ability exists to continue or expand upon the current renovation scope for additional rent increases. The ability to add or improve upon current amenities could also generate additional premiums. The property is uniquely positioned in Montgomery County, Maryland allowing residents access to unparalleled private and public employment, with multiple government agency headquarters, the University of Maryland, and the I-270 Life Sciences Corridor all less than 25 minutes away. Furthermore, the property is within walking distance of the White Oak Transit Center with coveted Flash Bus Rapid Transit service that runs along traffic-bypass lanes to fast track daily commutes. Overall, the asset’s outstanding condition, size, rental upside, and assumable financing in one of the most desirable metro areas on the East Coast make The Flats at Columbia Pike a rare multifamily investment opportunity.