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    The Largest CRE Database in the US with Over 1 Million Listings

    331 Parkland Pl SE Washington, DC 20032

    Sponsored
    For Sale
    $465,000

    MULTI_FAMILY - Other - WASHINGTON, DC

    Property size:
    2,720 SF
    Lot size:
    0.08 Acres
    Days on Market:
    3
    Last Refresh:
    Jan 24 at 2:06 am

    Property Features for 331 Parkland Pl SE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Parking features
    On Street
    Size
    2,720 SF
    Lot size
    0.08 Acres

    Utilities

    Heating system
    Other (Heating), Forced Air
    Cooling system
    Ductless, Central Air

    Building Details

    Year built
    1942
    Number of units
    4
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Cornelius Henderson

    Allegiance Realty Partners, LLC (703) 824-4800

    Listing agent Cornelius R Henderson (202) 338-8900 License #SP98368585

    Listing date Jan 22, 2026

    MLS# DCDC2242738 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Four-Unit Multifamily Investment Opportunity

    This multifamily property features four 1-bedroom units with recent improvements to several units within the last 5 years. Each unit includes a living/dining area, a galley kitchen with gas cooking, and one full bath. Three of the units are currently vacant. Zoned RA-1, the property allows for low- to moderate-density apartment development, potentially allowing for expansion of the existing structure, subject to DC zoning approvals. The property is situated near the Congress Heights Metro Station, the Congress Heights Arts & Culture Center, and the St. Elizabeths redevelopment, providing access to dining, entertainment, and major commuter routes, including I-295, Alabama Avenue SE, Malcolm X Avenue SE and MLK Jr. Avenue SE. The property, situated on a 0.08-acre lot, offers immediate cash flow and long-term investment potential. The property size is 2720 square feet. It is suitable for buy-and-hold investors, 1031 exchange buyers, or developers seeking future upside in a well-positioned Southeast DC location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Map

    City
    Washington
    County
    District of Columbia
    State
    DC
    Longitude
    -77.00044
    Latitude
    38.84449

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    FAQs

    What type of property is this?
    Quadplex - Four 1-bedroom units near Congress Heights Metro Station.
    Where is this quadplex located?
    The property is located at 331 Parkland Pl SE Washington, DC.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: - Turn-key investment opportunity with recent improvements to several units.; - Three of the four units are currently vacant, offering immediate rental income potential.; - Zoned RA-1, allowing for potential expansion of the existing structure (subject to DC zoning approvals).
    (202) 338-8900
    Request Owner's contact information
    331 Parkland Pl SE Washington, DC 20032
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    Washington, DC 20032
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    331 Parkland Pl SE Washington, DC 20032
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    We can help!
    Listing Contact
    Cornelius Henderson
    Real Estate License ID: SP98368585
    (202) 338-8900
    Learn more
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