Brick Quadplex with Vacant
For Sale
$629,000
1322 DOWNING NE, Washington, DC 20018
Three units are occupied, while the remaining unit can support owner occupancy or a new lease.
Property Size2,600 SF
Days on Market18
Property Features for 1322 DOWNING NE
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
systematic interior renovations and finish updates
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,395
Building Details
Building Size
2,600 SF
Year Built
1943
Buildings
1
Units
4
Construction
brick
Listing Agency:
Keller Williams Capital Properties
Listed By:
Abel M Gebremichael · License #SP98377913
(202) 601-0160
Source:
Elliman
Added: Sep 19
Changed: Oct 6
Last Checked: Oct 5 at 6:25PM
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.
Built in 1943, this brick quadplex at 1322 Downing NE contains four residential units. Three are occupied, providing existing rental income, while the fourth is vacant and positioned for owner occupancy or lease-up. The property offers a defined renovation opportunity through interior and finish updates, subject to the applicable requirements for the planned work.
The building is located in Northeast Washington, D.C., within an established residential corridor. Walk Score is 71, Bike Score is 66, and Transit Score is 62, reflecting access to walking, cycling, and public transportation options. A qualifying individual owner-occupant may be eligible to pursue the Small Landlord Exemption from D.C. rent-control stabilization regulations through the Rental Accommodations Division.
The building is located in Northeast Washington, D.C., within an established residential corridor. Walk Score is 71, Bike Score is 66, and Transit Score is 62, reflecting access to walking, cycling, and public transportation options. A qualifying individual owner-occupant may be eligible to pursue the Small Landlord Exemption from D.C. rent-control stabilization regulations through the Rental Accommodations Division.
Key Highlights
- Four‑unit brick building constructed in 1943
- Three occupied units and one vacant unit
- Vacant unit may support owner occupancy or lease‑up
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
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,802
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
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 - Three units are occupied, while the remaining unit can support owner occupancy or a new lease.
Where is this quadplex located?
The property is located at 1322 DOWNING 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 brick building constructed in 1943; Three occupied units and one vacant unit; Vacant unit may support owner occupancy or lease‑up
