Henson Creek Manor, an affordable housing apartment complex located just outside of Washington D.C., is on the market.
Greysteel Co. has been selected to handle the sale of the development in Fort Washington that consists of 210 units. The buildings were completed in two phases between 1994 and 1998, and according to Maryland property tax records, are valued at a combined $7.64 million.
The older part of the development is limited to residents with 50 percent of the average median income and the second portion is limited to residents with 60 percent of area median incomes. It is located within close proximity to employment centers such as the Washington Navy Yard, the Capitol Riverfront and the MGM Resorts International development.
“Henson Creek Manor is an incredible investment opportunity due to its significant value and potential through a renovation program on Phase I and its prime location,” John Mullen, Greysteel’s senior director of investment sales, said in a news release.