Meadowbrook Run | Affordable Housing, Entitled Redevelopment

Berkadia, in partnership with RealINSIGHT Marketplace, is pleased to present Meadowbrook Run, a 259-unit affordable housing community at 3647 6th St. SE in Washington, D.C., encompassing 192,359 SF across 25 buildings built in 1960 and renovated in 2002. The property is 100% restricted under Section 42 LIHTC and HPTF regulatory agreements at 60% AMI, with current average rents of $1,321 sitting roughly 34% below the $2,008 average Max Net Tax Credit rent, offering a clear path to income growth alongside continued vacancy and bad debt recovery. In 2023, ownership secured an RA-2 rezoning that permits up to 1.8 FAR (2.16 for inclusionary zoning) and 50-foot heights with no story limit, supporting a contemplated three-phase redevelopment of roughly 213 apartment units, a 46-unit senior building, and 52 for-sale townhomes. A continuing nonprofit ownership component preserves the asset's full real estate tax exemption. Located in a Southeast D.C. submarket undergoing a wave of office, retail, and public space redevelopment, with proximity to WMATA Metro and MetroBus service, Meadowbrook Run offers buyers scale, in-place cash flow upside, and optionality. The Property is offered individually or in combination with Arbor View as part of the 415-unit Enterprise Portfolio.

**Meadowbrook Run is offered as part of the 415-unit Enterprise Portfolio alongside Arbor View. Properties can be acquired individually or in combination.