Quadplex with Three Vacant
New
For Sale
$875,000
Pending
1332 ADAMS St NE, Washington, DC 20018
A brick residential income property combines recently refreshed interiors with one month-to-month tenancy.
Property Size2,720 SF
Days on Market4
Property Features for 1332 ADAMS St NE
General Information
Standard status
Pending
Size
2,720 SF
Property subtype
Investment
Occupancy
25%
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,393
Amenities
in-unit laundry
lighted stone entrance steps
fenced rear yard
Building Details
Building Size
2,720 SF
Year Built
1942
Buildings
1
Units
4
Construction
brick
Tenancy
Single
Listing Agency:
Keller Williams Capital Properties
Listed By:
Abel M Gebremichael · License #SP98377913
(202) 601-0160
Source:
Elliman
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 9:40AM
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 four-unit brick building, constructed in 1942, has three vacant apartments with updated interiors and one occupied apartment under a month-to-month arrangement. The vacant units feature luxury vinyl plank flooring, neutral paint, recessed lighting, updated bathrooms, and stackable laundry appliances. Unit #1 has a wall-mounted ductless mini-split HVAC system. Bathroom finishes include tiled shower surrounds, glass-enclosed tub-and-shower combinations, modern vanities, and updated fixtures.
The exterior includes illuminated stone entry steps, a fenced rear yard, and a walkway. The property has a Walk Score of 71, a Bike Score of 66, and a Transit Score of 62.
The exterior includes illuminated stone entry steps, a fenced rear yard, and a walkway. The property has a Walk Score of 71, a Bike Score of 66, and a Transit Score of 62.
Key Highlights
- Four‑unit brick building constructed in 1942
- Three apartments are vacant; one has a month‑to‑month tenant
- Vacant units have updated flooring, paint, lighting, bathrooms, and stackable laundry appliances
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
$48,735
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
5.57%
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%
$974,700
$974.7K
Cap Rate 7%
$696,214
$696.2K
Cap Rate 9%
$541,500
$541.5K
Market Conditions
NOI Build-Up for 2,720 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
$73.4K $27.00/SF
− Vacancy
−$3.8K −$1.40/SF
EGI
$69.6K $25.60/SF
− OpEx
−$20.9K −$7.68/SF
NOI
$48.7K $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%
$974,700
Cap Rate 7%
$696,214
Cap Rate 9%
$541,500
Alternative Uses
Best Use
Multifamily LT 5
$696.2K
$609.2K – $812.3K
NOI $48,735 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$645.6K
$564.9K – $753.2K
NOI $45,194 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,936 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
25%
Occupancy
Single-tenant
Tenancy
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
Check the figures for this property
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 - A brick residential income property combines recently refreshed interiors with one month-to-month tenancy.
Where is this quadplex located?
The property is located at 1332 ADAMS St NE Washington, DC.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Four‑unit brick building constructed in 1942; Three apartments are vacant; one has a month‑to‑month tenant; Vacant units have updated flooring, paint, lighting, bathrooms, and stackable laundry appliances
