Partially Completed 4-Unit
For Sale
$1,100,000
1148 OWEN PL NE, Washington, DC 20002
Four three-bedroom residences are being prepared for completion within a partially renovated multifamily property.
Property Size4,200 SF
Price / SF$261.90
Days on Market63
Property Features for 1148 OWEN PL NE
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
fully gutted
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Listing Agency:
Samson Properties
(571) 378-1346
Listed By:
Sofia A Pellegrino
(703) 593-6976
Source:
Imanirealtors
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 14 at 10:55PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 4,200-square-foot quadplex contains four planned residences, each arranged with three bedrooms and two bathrooms. The interior has been gutted, while framing, electrical, plumbing, and mechanical work have been completed or substantially advanced. HVAC/AC units have also been purchased. The property is offered strictly AS-IS and requires completion of interior finishes.
A condo conversion is nearly complete, creating a property with four potential condominium units or continued multifamily use. The 2025-built property is located at 1148 Owen Place NE in Washington, DC 20002. Buyers should independently verify permits, approvals, conversion status, and other project requirements.
A condo conversion is nearly complete, creating a property with four potential condominium units or continued multifamily use. The 2025-built property is located at 1148 Owen Place NE in Washington, DC 20002. Buyers should independently verify permits, approvals, conversion status, and other project requirements.
Key Highlights
- 4,200‑square‑foot quadplex with 4 planned units
- Each unit is configured with 3BR/2BA
- Framing, electrical, plumbing, and mechanical work completed or nearly completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,015
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,600,300
$1.6M
Cap Rate 7%
$1,143,071
$1.1M
Cap Rate 9%
$889,056
$889.1K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$121.0K $28.80/SF
− Vacancy
−$6.7K −$1.58/SF
EGI
$114.3K $27.22/SF
− OpEx
−$34.3K −$8.16/SF
NOI
$80.0K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,600,300
Cap Rate 7%
$1,143,071
Cap Rate 9%
$889,056
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$1.00M – $1.33M
NOI $80,015 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$1.02M
$893.8K – $1.19M
NOI $71,504 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,793 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,648
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four three-bedroom residences are being prepared for completion within a partially renovated multifamily property.
Where is this quadplex located?
The property is located at 1148 OWEN PL NE Washington, DC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,200‑square‑foot quadplex with 4 planned units; Each unit is configured with 3BR/2BA; Framing, electrical, plumbing, and mechanical work completed or nearly completed
