Glover Park Turnkey Multifamily
For Sale
$1,650,000
Pending
3920 W St NW, Washington, DC 20007
Well-maintained four-unit building in Glover Park with strong income.
Property Size3,200 SF
Days on Market131
Property Features for 3920 W St NW
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$14,517
Building Details
Building Size
3,200 SF
Year Built
1938
Units
4
Listing Agency:
Chatel Real Estate, Inc.
(202) 338-0500
Listed By:
John T Taylor · License #BR89427
(202) 338-0500
Source:
Elliman
Added: Apr 22
Changed: Aug 10
Last Checked: Aug 9 at 9:39AM
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 Chatel Real Estate, Inc.
Investment Insights
Based on property information with market context.
This turnkey building, located in Glover Park, consists of four self-contained units. There are two 1-bedroom 1-bath units rented at $1,950 per month and two 2-bedroom 1-bath units rented at $2,475 per month. The units feature renovated kitchens and bathrooms, dedicated dining areas, washers and dryers, and open pavilions overlooking parkland. Each unit has two tandem parking spaces, plus one additional parking space rented at $150 per month. Tenants are responsible for their own electricity, gas, and water/sewer usage. The current annual income is $108,000. Expenses in 2025 were $26,845, including real estate taxes of $14,515, insurance of $5,560, house utilities of $1,345, trash removal of $2,195, landscaping of $2,030, and janitorial service of $1,200. The building has a bike score of 70, indicating it is very bikeable, a walk score of 85, indicating it is very walkable, and a transit score of 65, indicating good transit options. This property is well-positioned for investors or homeowners.
Key Highlights
- Turnkey, well‑maintained multi‑unit building in Glover Park.
- Four self‑contained units with renovated kitchens and bathrooms.
- Current annual income of $108,000.
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
$57,335
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
3.47%
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%
$1,146,700
$1.1M
Cap Rate 7%
$819,071
$819.1K
Cap Rate 9%
$637,056
$637.1K
Market Conditions
NOI Build-Up for 3,200 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
$86.4K $27.00/SF
− Vacancy
−$4.5K −$1.40/SF
EGI
$81.9K $25.60/SF
− OpEx
−$24.6K −$7.68/SF
NOI
$57.3K $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%
$1,146,700
Cap Rate 7%
$819,071
Cap Rate 9%
$637,056
Alternative Uses
Best Use
Multifamily LT 5
$819.1K
$716.7K – $955.6K
NOI $57,335 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$759.6K
$664.6K – $886.2K
NOI $53,170 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,218 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,676
Businesses Nearby
Explore this area
Business Placement
Demographics for 20007, DC
26,827
Population
13,583
Households
2
Avg Household Size
35
Median Age
87%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
8,654
Density / Sq Mi
$142,783
Median Household Income
$93,107
Median Earnings
$2,066
Median Rent
$1,202,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit building in Glover Park with strong income.
Where is this quadplex located?
The property is located at 3920 W St NW Washington, DC.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Turnkey, well‑maintained multi‑unit building in Glover Park.; Four self‑contained units with renovated kitchens and bathrooms.; Current annual income of $108,000.
