Updated Four-Unit
For Sale
$1,000,000
113 Galveston Pl SW, Washington, DC 20032
Four refreshed residences offer a consistent layout suited to multifamily rental operations.
Property Size2,960 SF
Price / SF$337.84
Days on Market9
Property Features for 113 Galveston Pl SW
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1943
Buildings
1
Listing Agency:
Keller Williams Capital Properties
(303) 263-9739
Listed By:
Marlena D McWilliams · License #SP98372051
Source:
Fulcrum-residential
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 25 at 4:40AM
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 Keller Williams Capital Properties
Investment Insights
Based on property information with market context.
This Washington, DC quadplex contains four separate residential units, each configured with two bedrooms and one full bathroom. The building totals 2,960 square feet, and all units received updates in 2022, creating a consistent configuration for ongoing residential occupancy.
Residents have access to Metrobus service and regional commuter routes connecting Washington, DC, Maryland, and Northern Virginia. Southern Avenue Metro, Suitland Parkway, I-295, I-495, and the Capital Beltway are identified nearby, with connections toward Downtown Washington, Capitol Hill, the Navy Yard, National Harbor, Joint Base Anacostia-Bolling, and employment centers in Maryland.
Residents have access to Metrobus service and regional commuter routes connecting Washington, DC, Maryland, and Northern Virginia. Southern Avenue Metro, Suitland Parkway, I-295, I-495, and the Capital Beltway are identified nearby, with connections toward Downtown Washington, Capitol Hill, the Navy Yard, National Harbor, Joint Base Anacostia-Bolling, and employment centers in Maryland.
Key Highlights
- Four‑unit residential building with 2,960 square feet
- Uniform unit mix: four 2‑bedroom, 1‑bath residences
- All four units updated in 2022
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
$53,035
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
5.30%
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%
$1,060,700
$1.1M
Cap Rate 7%
$757,643
$757.6K
Cap Rate 9%
$589,278
$589.3K
Market Conditions
NOI Build-Up for 2,960 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
$79.9K $27.00/SF
− Vacancy
−$4.2K −$1.40/SF
EGI
$75.8K $25.60/SF
− OpEx
−$22.7K −$7.68/SF
NOI
$53.0K $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%
$1,060,700
Cap Rate 7%
$757,643
Cap Rate 9%
$589,278
Alternative Uses
Best Use
Multifamily LT 5
$757.6K
$662.9K – $883.9K
NOI $53,035 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$702.6K
$614.8K – $819.7K
NOI $49,182 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,577 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
598
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four refreshed residences offer a consistent layout suited to multifamily rental operations.
Where is this quadplex located?
The property is located at 113 Galveston Pl SW Washington, DC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four‑unit residential building with 2,960 square feet; Uniform unit mix: four 2‑bedroom, 1‑bath residences; All four units updated in 2022
