Marcus & Millichap is pleased to present Kensington GardensApartments, a 54-unit, market-rate multifamily investment opportunity in Kensington, Maryland. The property is situated within one of the Washington, D.C. metropolitan area’s most established and supply-constrained suburban markets. Kensington Gardens comprises seven garden-style apartment buildings on a 1.90-acre parcel containing 30 one-bedroom and 24 two-bedroom units. The property has maintained historically strong occupancy, reflecting sustained demand for well-located, value-oriented rental housing in the Kensington submarket. Ownership completed an extensive property-wide renovation program that began in 2001, which includes roof replacements, energy-efficient windows, an electrical heavy-up, and plumbing improvements.In each of the buildings,all common area lighting fixtures have been converted to LED lighting within the last two years and each unit has been upgraded with LED lighting upon turnover. In addition, 46 of the property’s 54 HVAC systems were replaced between 2020 and 2026. Units are upgraded upon turnover with new flooring, cabinetry, and appliances. The property also received lead-free certification in 2001. Collectively, these improvements enhance resident comfort, support operating efficiency, and may reduce nearterm capital requirements. The property’s one-bedroom units currently average approximately $1,374 per month, while its two-bedroom units average approximately $1,451 per month. These rents are positioned below larger ClassA new-construction communities in the surrounding market, providing Kensington Gardens with a compelling affordability and resident-retention advantage. Residents pay for separately metered electricity, while ownership is responsible for water and gas.A new operator can improve net operating income through efficient expense management, continued unit upgrades, conversion of the two non-revenue manager units to income-producing apartments, charging a monthly fee for the 54 parking spaces, and compliant rent growth. Montgomery County’s maximum rent-increase allowance for covered increases effective July 1, 2026 through June 30, 2027 is 5.2 percent, subject to applicable notice, timing, base-rent, lease, and other regulatory requirements. Based on the pro forma operating assumptions, the property is projected to generate a 6.78% CAP rate. Kensington Gardens is strategically located along University Boulevard, providing convenient access to Wheaton, Downtown Silver Spring, Bethesda, and the greater Washington, D.C. metropolitan area. Residents benefit from proximity to major regional employment centers, including the National Institutes of Health, Walter Reed National Military Medical Center,the U.S. Food and DrugAdministration, Marriott International, and numerous federal agencies. The property also offers access to Montgomery College, the University of Maryland, and other higher-education institutions throughout the region. The combination of strong historical occupancy, immediate access to metro bus service, established capital improvements, value-oriented rents, separate electrical metering, and proximity to major employment centers positions Kensington Gardens as a compelling multifamily investment opportunity with long-term income-growth potential.