New investor in DMV area

3 Replies

New to real estate and looking to JV on a multifamily property within the DMV or surrounding markets.. Primarily, a buy and hold investment. Id love to hear ideas or thoughts form anyone interested.. Duplex, triplex, fourplex.

Welcome to BP @Darnell Leslie .  Multifamily 2-4 unit properties are incredibly rare in the DC metro area.

Only about 0.7% of the housing units in the metro area are 2-4 unit properties. This ratio is one of the lowest in the entire country for major metro area.  Where the majority of those few that do exist, are located in DC proper. In DC they will largely be found in Kingman Park, Trinidad, Deanwood, Columbia Heights, Petworth, Brentwood, Anacostia. In DC about 12,000 2-4 units exist (thats out of 319,000 housing units.) Then for perspective Montgomery County where you are has 126 out of about 400,000 housing units.

@Russell Brazil thanks for the reply and insight! I’ve briefly checked Zillow and other like-apps and what I’ve found seems to be pretty consistent with what you mentioned. Hagerstown also has a multifamily properties within the area but finding long term tenants might present a problem for that city.