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Four-Unit Multifamily Building

2823 4TH Street NE Washington, DC 20002

2823 4TH Street NE, Washington, DC, 20002
$859,888
For Sale
$859,888

MULTI_FAMILY - Other - WASHINGTON, DC

Property Size3,480 SF
Lot Size0.09 Acres
Price / SF$247.09
Days on Market21

Property Features for 2823 4TH Street NE

General Information

Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Standard status
Active
Size
3,480 SF
Lot size
0.09 Acres

Taxes and HOA fees

Tax Annual Amount
8196

Utilities

Heating system
Hot Water(Heating)

Building Details

Year built
1941
Number of units
4
Building materials
Brick
Architectural style
Other
Listing agency RE/MAX Advantage Realty
Listed by Shurnell Cathey · License #SP100818
Added: Jul 2 Checked: Jul 22 at 3:06PM
MLS# DCDC2269788

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.

This classic brick-front four-unit multifamily building is currently vacant and offers approximately 3,480 square feet of living space. The property includes a den in each unit that can serve as an additional bedroom, providing flexibility in how residences are configured for future occupants. In addition to the existing layout, the property is described as having the opportunity to expand off the rear and add one additional level, which could support redesigned residences such as modern 2-bedroom, 2-bath units, 3-bedroom, 2-bath units, or combinations.

Located in the heart of Brookland, the building is positioned near major educational and healthcare employers, including The Catholic University of America, Trinity Washington University, MedStar Washington Hospital Center, the Washington VA Medical Center, and Children’s National Hospital. The remarks also note convenient access to the Brookland-CUA Metro Station on the Red Line and multiple Metrobus routes, along with regional roadway access via Rhode Island Avenue, South Dakota Avenue, Michigan Avenue, New York Avenue (US-50), and the Baltimore-Washington Parkway.

For buyers and operators, the current vacancy supports a straightforward plan for occupancy and unit reconfiguration, including den-to-bedroom flexibility. The described rear expansion and addition of a level may be appealing for those looking to update the unit mix within a four-unit framework in an established Northeast Washington neighborhood.

Key Highlights

  • Vacant four‑unit multifamily property with approximately 3,480 SF of living space
  • Brick construction with brick‑front exterior
  • Year built: 1941

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 $100.2k $28.80
− Vacancy −$5.5k −$1.58
EGI $94.7k $27.22
− OpEx −$28.4k −$8.16
NOI $66.3k $19.05
3,480 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$947.1K
$828.7K – $1.10M (±1% cap)
NOI $66,298 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$846.4K
$740.6K – $987.4K (±1% cap)
NOI $59,246 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M (±1% cap)
NOI $125,771 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Law Firm Accounting Firm (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Furniture & Home Goods (Bike/Boat/Book/etc) Store Acupuncture Electrical Service Home Appliance Store (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Quadplex - Vacant four-unit brick-front property with dens in each unit, offering flexibility for future bedroom configurations.
Where is this quadplex located?
The property is located at 2823 4TH Street NE Washington, DC.
What is the asking price?
The asking price for this property is $859,888.
What are key features of this property?
This property features: Vacant four‑unit multifamily property with approximately 3,480 SF of living space; Brick construction with brick‑front exterior; Year built: 1941
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