16 GALVESTON Place SW Washington, DC 20032
MULTI_FAMILY - WASHINGTON, DC
Property Features for 16 GALVESTON Place SW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 2,800 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6192
Utilities
- Heating system
- Heat Pump (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1944
- Number of units
- 3
- Building materials
- Brick
Listing agent NWABUEZE KENNETH OKWODU License #SP200201583 (301) 559-2872
Listing office Samson Properties 16701 Melford Boulevard unit: 100, Chantilly, DC (301) 850-0255
Listing date Jun 22, 2026
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The existing financing is described as a low 2.375% FHA assumable loan, originally originated in December 2021 with a maturity date of January 2052. The seller notes that the loan may be assumable to the buyer, but the buyer is solely responsible for confirming eligibility, lender requirements, terms, timelines, and approval process.
The unit mix can support multiple occupancy strategies, including living in the 3-bedroom unit while using rental income from the two 2-bedroom units to help offset monthly housing costs. Investors and owner-occupants may also consider rental approaches, including market-rate rentals or participation in the DC voucher program, subject to all applicable rules, licensing, and buyer due diligence. Buyer must pay 100% of closing costs and all broker fees, and the asking price is intended to reflect the approximate current loan balance.
Key Highlights
- 3‑unit property built in 1944 with brick construction
- Heat pump heating and central air cooling
- On‑street parking
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.6k | $27.00 |
| − Vacancy | −$3.9k | −$1.40 |
| EGI | $71.7k | $25.60 |
| − OpEx | −$21.5k | −$7.68 |
| NOI | $50.2k | $17.92 |
