
Yorkshire Apartments
11401 July Dr, Silver Spring, MD, 20904-3601, US
326 unités
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire The Kenmore (“the Property”), a 1948 vintage, 371-unit property located in Chevy Chase, one of Northwest DC’s premier residential locations. The Kenmore presents a comprehensive renovation opportunity to capture immense achievable value-add upside by renovating 63% of the unit mix and re-imagining 1,189+ SF of vacant retail space into common area amenities. The Kenmore sits on Connecticut Avenue, one of DC’s major thoroughfares, benefitting from a highly desirable and affluent neighborhood. In addition, the Property is within walking distance to the Red Line Metro station at Friendship Heights offering direct access to major demand drivers throughout the DC Metro and Bethesda. Chevy Chase boasts a broad array of attractive dining venues, landmarks, and entertainment destinations, including three nearby grocers (Safeway, Whole Foods, and Amazon Fresh).
PREMIER VALUE-ADD OPPORTUNITY
Ability to Renovate 63% of the Unit Mix and Enhance the Common Area Amenities
COMPELLING IN-PLACE CASH FLOW AND INHERENT UPSIDE
Consistent Property Level Performance with Strong Market Rent Growth Potential
MINIMAL FUTURE SUPPLY AND HIGH-BARRIER-TO-ENTRY SUBMARKET
Premier NW DC Location with No Future Deliveries Projected
TRANSIT ORIENTED LOCATION IN A HIGHLY AMENITIZED NEIGHBORHOOD
Conveniently Located Along Connecticut Avenue, Walking Distance to The Friendship Heights Metro Station (Red Line) and Downtown Friendship Heights
STRONG EMPLOYMENT AND RETAIL-CENTRIC LOCATION
4.1MM SF of Office and 1.6MM SF of Retail within a One-Mile Radius
EXCEPTIONAL RENTER DEMOGRAPHICS
$270K Average Household Income, $1.3MM Average Home Value, and 2.8% Unemployment Rate