4-Unit Residential Income
For Sale
$775,000
1223 Holbrook Terrace NE, Washington, DC 20002
Four-unit building with a C of O, currently operated as two rental units, with potential to revert to four units.
Property Size3,164 SF
Price / SF$244.94
Days on Market162
Property Features for 1223 Holbrook Terrace NE
General Information
Standard status
Active
Size
3,164 SF
Property subtype
Multi-Family
Building Details
Year Built
1937
Listing Agency:
Michaels Realty, Inc.
Listed By:
Abiodun Olorunwunmi
(301) 306-1777
Source:
Gklegacygroup
Added: Apr 28
Changed: Oct 5
Last Checked: Oct 5 at 9:33PM
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 Michaels Realty, Inc.
Investment Insights
Based on property information with market context.
This offering is a 4-unit residential income building with a certificate of occupancy for four units. The current configuration reflects the owner’s use as two separate 5-bedroom rental units. According to the provided information, a buyer can convert the property back to a four-unit setup if needed.
The property is listed for sale as part of a possible package deal, with the seller indicating availability of both 1223 and 1227 Holbrook Ter NE together. The public remarks also cite strong mobility scores, including a bikeScore of 98, walkScore of 81, and transitScore of 73.
For buyers evaluating multifamily conversion and configuration options, this property’s existing C of O for four units and the ability to adjust the layout back to four units are central considerations noted in the seller’s materials.
The property is listed for sale as part of a possible package deal, with the seller indicating availability of both 1223 and 1227 Holbrook Ter NE together. The public remarks also cite strong mobility scores, including a bikeScore of 98, walkScore of 81, and transitScore of 73.
For buyers evaluating multifamily conversion and configuration options, this property’s existing C of O for four units and the ability to adjust the layout back to four units are central considerations noted in the seller’s materials.
Key Highlights
- 4‑unit building built in 1937 with a C of O
- Currently operated as two rental units, used by the owner as two 5‑bedroom units
- Can be converted back to a 4‑unit configuration if needed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,278
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,205,560
$1.2M
Cap Rate 7%
$861,114
$861.1K
Cap Rate 9%
$669,756
$669.8K
Market Conditions
NOI Build-Up for 3,164 SF
Gross rent
$91.1K $28.80/SF
− Vacancy
−$5.0K −$1.58/SF
EGI
$86.1K $27.22/SF
− OpEx
−$25.8K −$8.16/SF
NOI
$60.3K $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%
$1,205,560
Cap Rate 7%
$861,114
Cap Rate 9%
$669,756
Alternative Uses
Best Use
Multifamily LT 5
$861.1K
$753.5K – $1.00M
NOI $60,278 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$769.5K
$673.3K – $897.8K
NOI $53,866 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$1.63M
$1.43M – $1.91M
NOI $114,351 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,149
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit building with a C of O, currently operated as two rental units, with potential to revert to four units.
Where is this quadplex located?
The property is located at 1223 Holbrook Terrace NE Washington, DC.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 4‑unit building built in 1937 with a C of O; Currently operated as two rental units, used by the owner as two 5‑bedroom units; Can be converted back to a 4‑unit configuration if needed
