Marcus & Millichap has completed the sale of Modo Apartments, a mixed-use property comprised of 17 multifamily units and one ground-floor retail bay in Washington, D.C. The property sold for $5.3 million.

“We’re proud to have successfully closed this sale in a challenging and uncertain market,” said Ryan Murray, Associate. “Despite the headwinds, we executed a proactive and sustained marketing campaign that kept interest high and ultimately led us to the right buyer.” Murray, Marty Zupancic and Andrew Pacious, investment specialists in Marcus & Millichap’s Washington D.C. office, had the exclusive listing to market the property on behalf of the seller, Rooney Properties.

Purchased by Gauhar Naseem, founder of AG Capital, 3709 New Hampshire Ave. NW features 17 three-bedroom units and one ground-floor retail bay in D.C.’s Petworth neighborhood. Built in 2022, the 22,920-square-foot property sits directly across from the Georgia Ave-Petworth Metro Station and is within walking distance of restaurants, retail shops and entertainment options. The buyer plans to stabilize the asset and lease the retail space.