Renovated Multifamily Building for
For Sale
$1,175,000
1250 QUEEN St NE, Washington, DC 20002
Fully renovated four-unit building, ideal for investors or owner-occupants.
Property Size3,376 SF
Price / SF$426.34
Days on Market101
Property Features for 1250 QUEEN St NE
General Information
Standard status
Active
Size
3,376 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,231
Building Details
Building Size
3,376 SF
Year Built
1941
Units
4
Listing Agency:
Keller Williams Capital Properties
(202) 601-0160
Listed By:
Abel M Gebremichael · License #SP98377913
(202) 601-0160
Source:
Elliman
Added: May 21
Changed: Aug 8
Last Checked: Jul 16 at 5:30AM
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 Keller Williams Capital Properties
Investment Insights
Based on property information with market context.
This fully renovated four-unit building is suitable for owner-occupants or investors seeking program-friendly income. Each unit features a 3-bedroom, 1-bath layout with approximately 689 sq. ft., meeting DC egress and square-footage requirements. The building has been completely renovated throughout, featuring modern kitchens with stainless-steel appliances, updated baths, new flooring, and in-unit laundry. Two units are currently vacant, providing flexibility for an owner-occupant to live in one unit while leasing others through the voucher program, or to operate short-term or mid-term rentals in a high-demand location. The remaining units are rent-ready, offering immediate income potential. This property represents a turnkey multifamily asset with compliance-ready layouts and strong rental fundamentals. Investors can pursue multiple strategies—program leasing, furnished rentals, or long-term holds—while maintaining a conservative risk profile through modernized systems and code-compliant design. The location is very bikeable with a bike score of 87, a walker's paradise with a walk score of 94, and has excellent transit with a transit score of 70.
Key Highlights
- Fully renovated 4‑unit building, turnkey and compliance‑ready.
- Ideal for owner‑occupants or investors with program‑friendly income potential.
- Each unit features 3 bedrooms and 1 bath, meeting DC egress and square‑footage requirements.
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
$52,505
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
4.47%
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%
$1,050,100
$1.1M
Cap Rate 7%
$750,071
$750.1K
Cap Rate 9%
$583,389
$583.4K
Market Conditions
NOI Build-Up for 2,756 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
$79.4K $28.80/SF
− Vacancy
−$4.4K −$1.58/SF
EGI
$75.0K $27.22/SF
− OpEx
−$22.5K −$8.16/SF
NOI
$52.5K $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%
$1,050,100
Cap Rate 7%
$750,071
Cap Rate 9%
$583,389
Alternative Uses
Best Use
Multifamily LT 5
$750.1K
$656.3K – $875.1K
NOI $52,505 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$670.3K
$586.5K – $782.0K
NOI $46,920 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,605 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Fully renovated four-unit building, ideal for investors or owner-occupants.
Where is this quadplex located?
The property is located at 1250 QUEEN St NE Washington, DC.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Fully renovated 4‑unit building, turnkey and compliance‑ready.; Ideal for owner‑occupants or investors with program‑friendly income potential.; Each unit features 3 bedrooms and 1 bath, meeting DC egress and square‑footage requirements.
