Vacant Four-Unit
For Sale
$649,900
2916 SOUTHERN Avenue SE, Washington, DC 20020
Multi-Family, WASHINGTON, DC
Property Size2,880 SF
Lot Size0.18 Acres
Price / SF$225.66
Days on Market8
Property Features for 2916 SOUTHERN Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement, Dining Room
Parking features
On Street
Interior features
Combination Dining/Living
Appliances
Refrigerator, Stove
Subdivision
RANDLE HEIGHTS
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,880 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
3965
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1944
Number of units
4
Building materials
Brick, Aluminum Siding
Listing Agency:
HomeSmart
(301) 352-4065
Listed By:
Valerie D Grant · License #SP200204648
(301) 367-4311
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 9 at 4:06AM
MLS# DCDC2281310
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 1944 quadplex contains 2,880 square feet across four vacant units. The layout includes two two-bedroom residences and two three-bedroom residences, creating a total of 10 bedrooms. Interior finishes are primarily original and maintained, while the property includes a combination dining/living area, refrigerators, stoves, window unit cooling, brick construction, aluminum siding, and on-street parking.
Recent exterior work includes a newer roof, replacement siding, and new front and rear exterior doors. The property occupies 0.1797 acres at 2916 Southern Avenue SE in Washington, DC, with a 20020 ZIP Code. It is offered as-is, and the buyer is responsible for independently verifying zoning, licensing, unit configuration, square footage, Certificate of Occupancy, rental potential, TOPA applicability, and intended use.
Recent exterior work includes a newer roof, replacement siding, and new front and rear exterior doors. The property occupies 0.1797 acres at 2916 Southern Avenue SE in Washington, DC, with a 20020 ZIP Code. It is offered as-is, and the buyer is responsible for independently verifying zoning, licensing, unit configuration, square footage, Certificate of Occupancy, rental potential, TOPA applicability, and intended use.
Key Highlights
- Four‑unit quadplex with 10 total bedrooms
- Unit mix includes two 2‑bedroom units and two 3‑bedroom units
- All four units are vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,894
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,017,880
$1.0M
Cap Rate 7%
$727,057
$727.1K
Cap Rate 9%
$565,489
$565.5K
Market Conditions
NOI Build-Up for 2,880 SF
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.
Gross rent
$77.8K $27.00/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$72.7K $25.25/SF
− OpEx
−$21.8K −$7.57/SF
NOI
$50.9K $17.67/SF
Area
ZIP 20020
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,017,880
Cap Rate 7%
$727,057
Cap Rate 9%
$565,489
Alternative Uses
Best Use
Multifamily LT 5
$727.1K
$636.2K – $848.2K
NOI $50,894 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$649.5K
$568.3K – $757.8K
NOI $45,465 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,086 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with a two-and-three-bedroom mix and completed exterior updates.
Where is this quadplex located?
The property is located at 2916 SOUTHERN Avenue SE Washington, DC.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Four‑unit quadplex with 10 total bedrooms; Unit mix includes two 2‑bedroom units and two 3‑bedroom units; All four units are vacant
