4-Unit Apartment
For Sale
$630,000
Pending
4700 QUARLES St NE, Washington, DC 20019
Four separately addressed units with individual metering, renovated interiors, updated roof and electrical, and ample yard space.
Property Size2,376 SF
Days on Market51
Property Features for 4700 QUARLES St NE
General Information
Standard status
Pending
Size
2,376 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,584
Building Details
Building Size
2,376 SF
Year Built
1970
Units
4
Tenancy
Multi
Listing Agency:
Heymann Realty, LLC
(301) 257-6561
Listed By:
Rosemary Mann · License #SP98362651
(301) 257-6561
Source:
Elliman
Added: Jul 12
Changed: Aug 27
Last Checked: Aug 29 at 2:19PM
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 Heymann Realty, LLC
Investment Insights
Based on property information with market context.
This property is a four-unit apartment building with units at 4700, 4702 (#1 and #2), and 4704 QUARLES St NE. Each unit is separately metered and has front and back entrances. The renovated units feature updated flooring and updated appliances, including washer and dryer. Improvements include a recently updated roof and electrical service, along with new doors and windows.
The building offers ample yard space in the front, side, and back. Public transportation access is described as convenient, with the Deanwood Metro stop one block away and the Stadium-Armory stop two stops away, and the property is close to downtown amenities as well as shopping.
Additional proximity is noted to Route 50, Baltimore Washington Parkway (295), and New York Avenue, supporting convenient regional access for residents.
The building offers ample yard space in the front, side, and back. Public transportation access is described as convenient, with the Deanwood Metro stop one block away and the Stadium-Armory stop two stops away, and the property is close to downtown amenities as well as shopping.
Additional proximity is noted to Route 50, Baltimore Washington Parkway (295), and New York Avenue, supporting convenient regional access for residents.
Key Highlights
- 4‑unit apartment building built in 1970 with separately addressed units: 4700, 4702 (#1 & #2), and 4704
- Each unit has separate metering and front and back entrances
- Three units fully updated with updated flooring and updated appliances, including washer and dryer
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
$45,866
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
7.28%
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%
$917,320
$917.3K
Cap Rate 7%
$655,229
$655.2K
Cap Rate 9%
$509,622
$509.6K
Market Conditions
NOI Build-Up for 2,376 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
$69.9K $29.40/SF
− Vacancy
−$4.3K −$1.82/SF
EGI
$65.5K $27.58/SF
− OpEx
−$19.7K −$8.27/SF
NOI
$45.9K $19.30/SF
Area
ZIP 20019
Vacancy
6.20%
Lease Rate
$29.40 /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%
$917,320
Cap Rate 7%
$655,229
Cap Rate 9%
$509,622
Alternative Uses
Best Use
Multifamily LT 5
$655.2K
$573.3K – $764.4K
NOI $45,866 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$585.4K
$512.2K – $683.0K
NOI $40,979 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,377 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 20019, DC
59,601
Population
29,244
Households
2
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
6.1 sq mi
ZIP Area
9,771
Density / Sq Mi
$57,031
Median Household Income
$49,707
Median Earnings
$1,174
Median Rent
$437,600
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 - Four separately addressed units with individual metering, renovated interiors, updated roof and electrical, and ample yard space.
Where is this quadplex located?
The property is located at 4700 QUARLES St NE Washington, DC.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 4‑unit apartment building built in 1970 with separately addressed units: 4700, 4702 (#1 & #2), and 4704; Each unit has separate metering and front and back entrances; Three units fully updated with updated flooring and updated appliances, including washer and dryer
