Renovated Triplex with Income
For Sale
$699,990
15 GALVESTON SW, Washington, DC 20032
Fully renovated triplex generating $8,400 monthly income from two units.
Property Size2,720 SF
Days on Market143
Property Features for 15 GALVESTON SW
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$3,683
Building Details
Building Size
2,720 SF
Year Built
1943
Units
3
Listing Agency:
Samson Properties
Listed By:
Dagmawi Alemayehu · License #SP200201930
(202) 222-5704
Source:
Elliman
Added: Apr 24
Changed: Aug 28
Last Checked: Sep 13 at 6:56AM
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 renovated triplex features two units with 5 bedrooms and 2 full bathrooms each. A third unfinished unit in the basement is configured as a one-bedroom, one-bathroom apartment with plumbing, egress windows, and a ceiling height exceeding 7 feet. Renovated in 2022, the property includes updated cabinetry, stainless steel appliances, and quartz countertops. The main and upper-level units offer spacious layouts. The basement presents a value-add opportunity as a third unit. The property is suitable for investors and first-time homebuyers, with flexibility as one tenant may vacate or remain in place. The property has a walk score of 66, indicating it is somewhat walkable, a transit score of 55, indicating good transit options, and a bike score of 29, indicating it is somewhat bikeable. The triplex is currently generating $8,400 per month in cash flow from two units.
Key Highlights
- Generates $8,400/month cash flow from two renovated units.
- Value‑add opportunity: Unfinished basement configured for a 1‑bedroom, 1‑bathroom apartment.
- Two spacious 5‑bedroom, 2‑bathroom units, fully renovated in 2022.
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
$48,735
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
6.96%
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%
$974,700
$974.7K
Cap Rate 7%
$696,214
$696.2K
Cap Rate 9%
$541,500
$541.5K
Market Conditions
NOI Build-Up for 2,720 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
$73.4K $27.00/SF
− Vacancy
−$3.8K −$1.40/SF
EGI
$69.6K $25.60/SF
− OpEx
−$20.9K −$7.68/SF
NOI
$48.7K $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 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%
$974,700
Cap Rate 7%
$696,214
Cap Rate 9%
$541,500
Alternative Uses
Best Use
Multifamily LT 5
$696.2K
$609.2K – $812.3K
NOI $48,735 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$645.6K
$564.9K – $753.2K
NOI $45,194 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,936 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Explore this area
Business Placement
Demographics for 20032, DC
38,904
Population
19,708
Households
2
Avg Household Size
33
Median Age
23%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
7,482
Density / Sq Mi
$48,146
Median Household Income
$44,487
Median Earnings
$1,285
Median Rent
$391,400
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?
Triplex - Fully renovated triplex generating $8,400 monthly income from two units.
Where is this triplex located?
The property is located at 15 GALVESTON SW Washington, DC.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: Generates **$8,400/month cash flow** from two renovated units.; Value‑add opportunity: Unfinished basement configured for a 1‑bedroom, 1‑bathroom apartment.; Two spacious 5‑bedroom, 2‑bathroom units, fully renovated in 2022.
