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    3131 Rhode Island Ave NE Washington, DC 20018

    For Sale
    $1,959,000

    Corner lot ideal for multifamily apartment use near Maryland.

    Lot size:
    0.29 Acres

    Property Features for 3131 Rhode Island Ave NE

    General Information

    Lot size
    0.29 Acres

    Building Details

    Year built
    1977

    Source: Crown Realty International Ltd Agent Samuel Jobi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Development Opportunity on Rhode Island

    This property, located at the corner of Eastern Avenue and Rhode Island Avenue NE, sits on the boundary line between Washington DC and Maryland. According to provided schematic plans, the site presents a development opportunity in an area with ongoing developments. Situated on the main street of Rhode Island Avenue, the property is suited for multifamily apartment use. The location was formerly a restaurant. Prospective buyers are advised to conduct their own due diligence.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Washington
    County
    District of Columbia
    State
    DC
    Longitude
    -76.9637805
    Latitude
    38.9347257

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    FAQs

    What type of property is this?
    Apartment building - Corner lot ideal for multifamily apartment use near Maryland.
    Where is this apartment building located?
    The property is located at 3131 Rhode Island Ave NE Washington, DC.
    What is the asking price?
    The asking price for this property is $1,959,000.
    What are key features of this property?
    This property features: - Ideal for multifamily apartment development.; - Located on the main street of Rhode Island Avenue.; - **Corner lot at the intersection of Eastern Ave and Rhode Island Ave NE.**
    (301) 537-7665
    Request Owner's contact information
    3131 Rhode Island Ave NE Washington, DC 20018
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    Washington, DC 20018
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3131 Rhode Island Ave NE Washington, DC 20018
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