Brick Four-Unit Apartment
For Sale
$629,000
1322 DOWNING PLACE NE, Washington, DC 20018
Four-unit configuration includes three occupied residences and one vacant unit for owner occupancy or lease-up.
Property Size2,600 SF
Price / SF$241.92
Days on Market22
Property Features for 1322 DOWNING PLACE NE
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Building Details
Year Built
1943
Buildings
1
Construction
brick
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Abel M Gebremichael · License #SP98377913
(202) 601-0160
Source:
Cummingsrealtors
Added: Sep 20
Changed: Oct 10
Last Checked: Oct 9 at 11:23PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This brick four-unit residential income property at 1322 Downing Place NE contains 2,600 square feet and was built in 1943. Three units are occupied, while the fourth is vacant and can support owner occupancy or a new lease-up. The building offers an existing rental component alongside an opportunity to update interiors and finishes over time.
The property is located in Northeast Washington, D.C., within the 20018 ZIP code. An owner-occupant may use rental income from the occupied units to help offset mortgage debt service while completing improvements. Buyer due diligence should address lease terms, Certificate of Occupancy status, Basic Business License requirements, and eligibility criteria related to the Small Landlord Exemption from D.C. rent control stabilization regulations.
The property is located in Northeast Washington, D.C., within the 20018 ZIP code. An owner-occupant may use rental income from the occupied units to help offset mortgage debt service while completing improvements. Buyer due diligence should address lease terms, Certificate of Occupancy status, Basic Business License requirements, and eligibility criteria related to the Small Landlord Exemption from D.C. rent control stabilization regulations.
Key Highlights
- Four‑unit building with 2,600 square feet
- Three occupied units provide existing rental income
- One vacant unit offers owner‑occupancy or lease‑up potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,585
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,700
$931.7K
Cap Rate 7%
$665,500
$665.5K
Cap Rate 9%
$517,611
$517.6K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$70.2K $27.00/SF
− Vacancy
−$3.7K −$1.40/SF
EGI
$66.5K $25.60/SF
− OpEx
−$20.0K −$7.68/SF
NOI
$46.6K $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 Rate 5%
$931,700
Cap Rate 7%
$665,500
Cap Rate 9%
$517,611
Alternative Uses
Best Use
Multifamily LT 5
$665.5K
$582.3K – $776.4K
NOI $46,585 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$617.1K
$540.0K – $720.0K
NOI $43,200 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,615 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,866
Businesses Nearby
Explore this area
Business Placement
Demographics for 20018, DC
20,646
Population
9,753
Households
2.1
Avg Household Size
39
Median Age
46%
College-Educated
89%
High-School Grad
3.0 sq mi
ZIP Area
6,882
Density / Sq Mi
$92,569
Median Household Income
$71,947
Median Earnings
$1,245
Median Rent
$672,100
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?
Quadplex - Four-unit configuration includes three occupied residences and one vacant unit for owner occupancy or lease-up.
Where is this quadplex located?
The property is located at 1322 DOWNING PLACE NE Washington, DC.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Four‑unit building with 2,600 square feet; Three occupied units provide existing rental income; One vacant unit offers owner‑occupancy or lease‑up potential
