Turnkey Quadplex Income
For Sale
$550,000
46 FORRESTER Street SW, Washington, DC 20032
MULTI_FAMILY - Federal - WASHINGTON, DC
Property Size2,556 SF
Lot Size0.08 Acres
Price / SF$215.18
Days on Market152
Property Features for 46 FORRESTER Street SW
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Interior features
Kitchen - Efficiency
Subdivision
CONGRESS HEIGHTS
High school
BALLOU SENIOR
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
2,556 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
5033
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1943
Number of units
4
Building materials
Brick
Architectural style
Federal
Listing Agency:
RE/MAX Allegiance · RE/MAX International
(202) 547-5600
Listed By:
Nathaniel Tate · License #SP96896
(202) 262-8819
Added: Apr 2
Changed: Jun 13
Last Checked: Aug 31 at 1:06AM
MLS# DCDC2253818
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 turnkey quadplex provides income-producing residential space configured across multiple units, with a total of four bedrooms and two baths. The property includes three vacant units and one occupied unit, with one unit currently generating $1,451 per month. Overall, the listing describes total rental potential approaching $6,000 per month, offering buyers a straightforward structure for either full investment use or partial owner-occupancy.
Located in Washington, DC 20032, the property is positioned near major commuter routes and public transportation. The remarks state easy access to the Washington Metro and convenient commuting into areas including downtown DC, Navy Yard, and Capitol Hill. The listing also notes proximity to dining, shopping, and entertainment options, including The Wharf and neighborhood amenities throughout Southwest DC.
For tenants, buyers, or owner-occupants, the mix of available units can support flexible occupancy planning, whether seeking to live in one unit while renting the others or maximizing near-term tenancy across the building. FHA and VA buyers are noted as welcome, broadening the potential buyer pool for this ready-to-operate residential income asset.
Located in Washington, DC 20032, the property is positioned near major commuter routes and public transportation. The remarks state easy access to the Washington Metro and convenient commuting into areas including downtown DC, Navy Yard, and Capitol Hill. The listing also notes proximity to dining, shopping, and entertainment options, including The Wharf and neighborhood amenities throughout Southwest DC.
For tenants, buyers, or owner-occupants, the mix of available units can support flexible occupancy planning, whether seeking to live in one unit while renting the others or maximizing near-term tenancy across the building. FHA and VA buyers are noted as welcome, broadening the potential buyer pool for this ready-to-operate residential income asset.
Key Highlights
- 4 bedrooms and 2 bathrooms configured across multiple units
- Unit occupancy: 3 vacant units and 1 occupied; one unit currently rents for $1,451/month
- Total rental potential approaching $6,000/month
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
$45,796
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
8.33%
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%
$915,920
$915.9K
Cap Rate 7%
$654,229
$654.2K
Cap Rate 9%
$508,844
$508.8K
Market Conditions
NOI Build-Up for 2,556 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
$69.0K $27.00/SF
− Vacancy
−$3.6K −$1.40/SF
EGI
$65.4K $25.60/SF
− OpEx
−$19.6K −$7.68/SF
NOI
$45.8K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
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%
$915,920
Cap Rate 7%
$654,229
Cap Rate 9%
$508,844
Alternative Uses
Best Use
Multifamily LT 5
$654.2K
$572.5K – $763.3K
NOI $45,796 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$606.7K
$530.9K – $707.8K
NOI $42,469 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $92,031 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 20032, DC
38,904
Population
19,708
Households
2
Avg Household Size
33
Median Age
23%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
7,482
Density / Sq Mi
$48,146
Median Household Income
$44,487
Median Earnings
$1,285
Median Rent
$391,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex with four bedrooms across multiple units, including three vacant units for immediate rental flexibility.
Where is this quadplex located?
The property is located at 46 FORRESTER Street SW Washington, DC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4 bedrooms and 2 bathrooms configured across multiple units; Unit occupancy: 3 vacant units and 1 occupied; one unit currently rents for $1,451/month; Total rental potential approaching $6,000/month
