WASHINGTON, DC–1111 Lamont St. NW, a 13-unitapartment property in Columbia Heights, has traded for $3.25million, or $250,000 per unit. If that sounds like Class Aapartment pricing, you would be correct. However, 1111 Lamont St.is definitely a class B property despite its recent renovations,according to Grant Fitzgerald and MartyZupancic of Marcus & Millichap, whomarketed the property on behalf of the seller, a local privateinvestor.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
