Four-Unit Residential Income
For Sale
$1,000,000
113 GALVESTON SW, Washington, DC 20032
Four updated residential units each offer two bedrooms and one full bathroom, totaling eight bedrooms and four baths.
Property Size2,960 SF
Days on Market49
Property Features for 113 GALVESTON SW
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,695
Building Details
Building Size
2,960 SF
Year Built
1943
Year Renovated
2022
Units
4
Tenancy
Multi
Listing Agency:
Keller Williams Capital Properties
(303) 263-9739
Listed By:
Marlena D McWilliams · License #SP98372051
(303) 263-9739
Source:
Elliman
Added: Jul 16
Changed: Aug 23
Last Checked: Aug 31 at 5:50PM
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 four-unit residential income building at 113 Galveston Place SW offers a uniform layout across all units, with two bedrooms and one full bathroom per residence. Across the property, the unit mix totals eight bedrooms and four bathrooms. The updates were completed in 2022, providing a refreshed foundation for continued rental operations.
The building is positioned for commuter connectivity in the Washington, DC area, with access to Metrobus service and major commuter corridors including Southern Avenue Metro, Suitland Parkway, I-295, I-495, and the Capital Beltway. WMATA offers Metrorail and Metrobus connections throughout the region.
With four separate residences in place, the property supports multiple straightforward ownership approaches, including operating all units as rentals or using an owner-occupant strategy while generating rental income from additional units.
The building is positioned for commuter connectivity in the Washington, DC area, with access to Metrobus service and major commuter corridors including Southern Avenue Metro, Suitland Parkway, I-295, I-495, and the Capital Beltway. WMATA offers Metrorail and Metrobus connections throughout the region.
With four separate residences in place, the property supports multiple straightforward ownership approaches, including operating all units as rentals or using an owner-occupant strategy while generating rental income from additional units.
Key Highlights
- Four‑unit residential building (built 1943) with uniform 2BR/1BA units
- Total layout includes 8 bedrooms and 4 full bathrooms across all four residences
- All four units were 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
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
524
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 updated residential units each offer two bedrooms and one full bathroom, totaling eight bedrooms and four baths.
Where is this quadplex located?
The property is located at 113 GALVESTON 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 (built 1943) with uniform 2BR/1BA units; Total layout includes 8 bedrooms and 4 full bathrooms across all four residences; All four units were updated in 2022
