Avison Young, as the exclusive agent, is pleased to present for sale The Vintage on 16th, an 85-unit boutique multifamily asset located at the convergence of Mount Pleasant and Columbia Heights – two of Washington, D.C.’s most supply-constrained, amenity-rich submarkets. Delivered in 2017 through the adaptive reuse of the historic Meridian Hill Baptist Church, the Property pairs a landmark neoclassical façade with modern construction and best-in-class amenities, creating a highly differentiated asset within a competitive set of conventional mid-rise product. Positioned on 16th Street, the Property offers walkable access to transit, retail, and dining, supporting durable demand within a dense, high-income residential base.

The Vintage presents a compelling opportunity to acquire in-place cash flow with significant embedded upside driven by both revenue growth and expense normalization. In-place rents are approximately 24% below market due to temporary operational disruption, while the current 57% expense ratio (~20 points above market) reflects correctable, non-recurring inefficiencies. As leases roll and operations stabilize, a disciplined owner can capture meaningful NOI growth without additional capital investment.

As a 2017 delivery, the Property is fully exempt from TOPA – eliminating tenant purchase rights and enabling a clean, predictable closing, a rarity among D.C. multifamily assets.

Combined with a limited supply pipeline, the asset offers a compelling mix of quality, connectivity, mark-to-market upside, execution certainty and strong submarket fundamentals.