Trinidad Multifamily Value-Add
For Sale
$649,999
Pending
1019 16TH St NE, Washington, DC 20002
Vacant 4-unit building in prime location for renovation.
Property Size2,640 SF
Days on Market139
Property Features for 1019 16TH St NE
General Information
Standard status
Pending
Size
2,640 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,007
Building Details
Building Size
2,640 SF
Year Built
1940
Units
4
Listing Agency:
Equilibrium Realty, LLC
(202) 409-8083
Listed By:
Daniel T Crosby · License #SP98358919
(202) 409-8083
Source:
Elliman
Added: Apr 15
Changed: Aug 8
Last Checked: Aug 30 at 2:55PM
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 Equilibrium Realty, LLC
Investment Insights
Based on property information with market context.
Located in Trinidad, this vacant 4-unit multifamily building presents a value-add opportunity. Each unit features 2 bedrooms and 1 full bath. The property is suitable for investors, developers, or owner-operators looking to reposition and maximize returns. The property sustained a fire in June 2025 and is being sold as-is, making it ideal for renovation, restoration, or redevelopment. There is potential for rental income, condo conversion, or long-term hold in an area experiencing growth and demand. The location provides access to public transportation, neighborhood shopping, the H Street Corridor, Union Market, Gallaudet University, Langston Golf Course, the United States National Arboretum, Route 50, and 295. The bike score is 97, the walk score is 78, and the transit score is 72.
Key Highlights
- Fully vacant 4‑unit multifamily building: Ideal for renovation, restoration, or redevelopment.
- Strong upside potential: Explore rental income, condo conversion, or long‑term hold.
- Prime location in Trinidad: Convenient access to H Street Corridor, Union Market, and other attractions.
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
$50,295
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
7.74%
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%
$1,005,900
$1.0M
Cap Rate 7%
$718,500
$718.5K
Cap Rate 9%
$558,833
$558.8K
Market Conditions
NOI Build-Up for 2,640 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
$76.0K $28.80/SF
− Vacancy
−$4.2K −$1.58/SF
EGI
$71.9K $27.22/SF
− OpEx
−$21.6K −$8.16/SF
NOI
$50.3K $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 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%
$1,005,900
Cap Rate 7%
$718,500
Cap Rate 9%
$558,833
Alternative Uses
Best Use
Multifamily LT 5
$718.5K
$628.7K – $838.3K
NOI $50,295 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$642.1K
$561.8K – $749.1K
NOI $44,945 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,413 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,604
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Vacant 4-unit building in prime location for renovation.
Where is this quadplex located?
The property is located at 1019 16TH St NE Washington, DC.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Fully vacant 4‑unit multifamily building: Ideal for renovation, restoration, or redevelopment.; Strong upside potential: Explore rental income, condo conversion, or long‑term hold.; Prime location in Trinidad: Convenient access to H Street Corridor, Union Market, and other attractions.
