Four-Unit Multi-Family
For Sale
$1,795,000
111 E UHLER AVENUE, Alexandria, VA 22301
Four 2-bedroom, 1-bath units in a capital-improved quadplex with convenient access to area shops and transit.
Property Size3,400 SF
Price / SF$527.94
Days on Market67
Property Features for 111 E UHLER AVENUE
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$10,773
Building Details
Building Size
3,400 SF
Year Built
1952
Listing Agency:
Rosemont Real Estate, LLC
Listed By:
Casey A Sutherland
(703) 628-1386
Source:
Kerishull
Added: Jul 1
Changed: Sep 4
Last Checked: Aug 10 at 10:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rosemont Real Estate, LLC
Investment Insights
Based on property information with market context.
This four-unit multi-family property is configured as a quadplex with four identical apartments, each offering 2 bedrooms and 1 bathroom. The units are described as approximately 650 square feet each. The building has undergone capital improvements intended to reduce near-term capital expenditure.
The property is located in Alexandria in the Del Ray area and is noted as being one property off of “the Avenue,” with easy access to shops, dining, and transit.
For buyers seeking income-producing housing, the listing notes that current rents trail market rates, presenting a value-add opportunity. Showings are by appointment only for qualified buyers.
The property is located in Alexandria in the Del Ray area and is noted as being one property off of “the Avenue,” with easy access to shops, dining, and transit.
For buyers seeking income-producing housing, the listing notes that current rents trail market rates, presenting a value-add opportunity. Showings are by appointment only for qualified buyers.
Key Highlights
- Quadplex with 4 units, all 2‑bedroom, 1‑bath layouts
- All units are approximately 650 SF
- Capital improvements have been made to help minimize near‑term capital expenditure requirements
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
$57,843
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
3.22%
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%
$1,156,860
$1.2M
Cap Rate 7%
$826,329
$826.3K
Cap Rate 9%
$642,700
$642.7K
Market Conditions
NOI Build-Up for 3,400 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
$87.7K $25.80/SF
− Vacancy
−$5.1K −$1.50/SF
EGI
$82.6K $24.30/SF
− OpEx
−$24.8K −$7.29/SF
NOI
$57.8K $17.01/SF
Area
Alexandria, VA
Vacancy
5.80%
Lease Rate
$25.80 /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%
$1,156,860
Cap Rate 7%
$826,329
Cap Rate 9%
$642,700
Alternative Uses
Best Use
Multifamily LT 5
$826.3K
$723.0K – $964.1K
NOI $57,843 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$744.6K
$651.5K – $868.7K
NOI $52,119 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$1.89M
$1.65M – $2.20M
NOI $132,192 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,213
Businesses Nearby
Explore this area
Business Placement
Demographics for 22301, VA
14,356
Population
6,400
Households
2.2
Avg Household Size
37
Median Age
83%
College-Educated
99%
High-School Grad
1.4 sq mi
ZIP Area
10,254
Density / Sq Mi
$188,211
Median Household Income
$106,616
Median Earnings
$2,368
Median Rent
$997,800
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 2-bedroom, 1-bath units in a capital-improved quadplex with convenient access to area shops and transit.
Where is this quadplex located?
The property is located at 111 E UHLER AVENUE Alexandria, VA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Quadplex with 4 units, all 2‑bedroom, 1‑bath layouts; All units are approximately 650 SF; Capital improvements have been made to help minimize near‑term capital expenditure requirements
