Building Details

Building Size 2,946 SF

Year Built 1936

Units 4

Listing Agency: Z Realtor LLC

Listed By: Zemede Bezuneh Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 25 Last Checked: Oct 5 at 6:56PM

Report an Issue

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 Z Realtor LLC

Investment Insights

Based on property information with market context.

This multifamily property features four well-maintained units. The building is located one block from the Metro station. Note that only units 2 and 3 are available for viewing, and they are identical.

Key Highlights

• Prime location: just 1 block from Metro
• Four well‑maintained units
• Units 2 and 3 are available for viewing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,784

Cap Rate

5.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,055,680 $1.1M

Cap Rate 7%

$754,057 $754.1K

Cap Rate 9%

$586,489 $586.5K

Market Conditions

NOI Build-Up for 2,946 SF

Gross rent

$79.5K $27.00/SF

− Vacancy

−$4.1K −$1.40/SF

EGI

$75.4K $25.60/SF

− OpEx

−$22.6K −$7.68/SF

NOI

$52.8K $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 Rate 5%

$1,055,680

Cap Rate 7%

$754,057

Cap Rate 9%

$586,489

Alternative Uses

Best Use

Multifamily LT 5

$754.1K

$659.8K – $879.7K (±1% cap)

NOI $52,784 @ 7.0% cap · market cap 5.56%

Second Best

Apartment 5plus

$699.3K

$611.9K – $815.8K (±1% cap)

NOI $48,949 @ 7.0% cap · market cap 5.15%

Theoretical Best

Office A

$1.52M

$1.33M – $1.77M (±1% cap)

NOI $106,073 @ 7.0% cap · market cap 11.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Building Supply Spa & Massage Center Skin Care Clinic Law Firm Hair Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

756

Businesses Nearby

Explore this area Business Placement

Demographics for 20003, DC

36,501

Population

20,817

Households

1.8

Avg Household Size

35

Median Age

81%

College-Educated

97%

High-School Grad

2.3 sq mi

ZIP Area

15,870

Density / Sq Mi

$159,604

Median Household Income

$107,846

Median Earnings

$2,630

Median Rent

$954,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Four-Unit Brick Quadplex

2335 GREEN Street SE, Washington, DC 20020

$899,000

2,964 SF

View details

Renovated Brick Quadplex

1518 ISHERWOOD Street NE, Washington, DC 20002

$975,000

2,841 SF

View details

Quadplex with Hardwood Interiors

3931 7Th Street NE, Washington, DC 20017

$850,000

2,800 SF

View details

Updated Four-Unit Quadplex

820 TAYLOR Street NE, Washington, DC 20017

$899,900

3,200 SF

View details

Brick Four-Unit Multifamily Property

2808 BUENA VISTA Terrace SE, Washington, DC 20020

$799,000

2,858 SF

View details

Brick 4-Unit Quadplex

1332 ADAMS Street NE, Washington, DC 20018

$875,000

2,720 SF

View details

Brick Four-Unit Apartment Building

2330 25TH STREET SE, Washington, DC 20020

$724,900

2,968 SF

View details

Four-Unit Brick Multifamily Property

3014 MASSACHUSETTS Avenue SE, Washington, DC 20019

$1,200,000

2,888 SF

View details

Vacant Quadplex with 1-Bed Units

1123 PENN STREET NE, Washington, DC 20002

$825,000

2,784 SF

View details

4-Unit Brick Quadplex

1724 CAPITOL Avenue NE, Washington, DC 20002

$875,000

3,216 SF

View details

Fully Occupied Brick Quadplex

1724 CAPITOL NE, Washington, DC 20002

$875,000

View details

Occupied Four-Unit Brick Quadplex

1729 TRINIDAD Avenue NE, Washington, DC 20002

$869,000

3,244 SF

View details

Frequently Asked Questions

What type of property is this?

Quadplex - Four well-maintained units, one block from Metro.

Where is this quadplex located?

The property is located at 1840 INDEPENDENCE Ave SE Washington, DC.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Prime location: just 1 block from Metro; Four well‑maintained units; Units 2 and 3 are available for viewing