52-Unit Apartment
For Sale
$4,950,000
3104 Bruce Pl SE, Washington, DC 20020
Multifamily property with varied apartment layouts, RA-1 zoning, and access to Metro service and major commuter routes.
Property Size40,500 SF
Lot Size1.20 Acres
Price / SF$183.29
Days on Market150
Property Features for 3104 Bruce Pl SE
General Information
Standard status
Active
Size
40,500 SF
Lot size
1.20 Acres
Property subtype
Multifamily
Zoning
RA-1
Occupancy
97%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
10 x 1BR, 38 x 2BR, 4 x 3BR
Multifamily Units
52
Amenities
A 52-Unit Multifamily Property Totaling 27,007 Gross Square Feet Situated on a 1.2-Acre Parcel Zoned RA-1
Diverse Unit Mix: 10 One-Bedroom, 38 Two-Bedroom, and 4 Three-Bedroom Apartments Offering Strong Tenant Appeal
Currently 38% Occupied, Providing Significant Value-Add Potential Through Lease-Up and Strategic Renovations
Projected Year 1 CAP Rate of 8.95% with Opportunity for Additional Return as Occupancy Stabilizes
Located In the Anacostia Subdivision, an Area Undergoing Major Redevelopment and Public Investment
Building Details
Building Size
40,500 SF
Units
52
Listing Agency:
Washington, D.C. Office
(202) 536-3743
Listed By:
Paul Senior · License #DC: BR200201188
(202) 536-3743
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 9:01PM
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 Washington, D.C. Office
Investment Insights
Based on property information with market context.
This multifamily property comprises 52 apartments across approximately 27,007 square feet on a 1.2-acre parcel. The unit mix includes 10 one-bedroom homes, 38 two-bedroom homes, and 4 three-bedroom homes. The property is zoned RA-1 and is currently 38% occupied, offering a substantial existing apartment inventory for repositioning or operational improvement.
The offering includes 3100–3104 Bruce Place SE and 3035–3037 Stanton Road SE in Washington, D.C.’s Anacostia subdivision. Transportation connections include Anacostia Metro Station on the Green Line, Metrobus service, Suitland Parkway, and I-295. The property is also near the Anacostia Arts Center, the Frederick Douglass Memorial Bridge, and St. Elizabeths East Campus, which includes the Entertainment & Sports Arena and Department of Homeland Security headquarters.
The offering includes 3100–3104 Bruce Place SE and 3035–3037 Stanton Road SE in Washington, D.C.’s Anacostia subdivision. Transportation connections include Anacostia Metro Station on the Green Line, Metrobus service, Suitland Parkway, and I-295. The property is also near the Anacostia Arts Center, the Frederick Douglass Memorial Bridge, and St. Elizabeths East Campus, which includes the Entertainment & Sports Arena and Department of Homeland Security headquarters.
Key Highlights
- 52‑unit multifamily property on a 1.2‑acre parcel
- Approximately 27,007 SF across 2 property addresses
- Unit mix: 10 one‑bedroom, 38 two‑bedroom, and 4 three‑bedroom apartments
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
$426,347
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
8.61%
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%
$8,526,940
$8.5M
Cap Rate 7%
$6,090,671
$6.1M
Cap Rate 9%
$4,737,189
$4.7M
Market Conditions
NOI Build-Up for 27,007 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
$826.4K $30.60/SF
− Vacancy
−$51.2K −$1.90/SF
EGI
$775.2K $28.70/SF
− OpEx
−$348.8K −$12.92/SF
NOI
$426.3K $15.79/SF
Area
ZIP 20020
Vacancy
6.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
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%
$8,526,940
Cap Rate 7%
$6,090,671
Cap Rate 9%
$4,737,189
Alternative Uses
Best Use
Apartment 5plus
$6.09M
$5.33M – $7.11M
NOI $426,347 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.94M
$12.20M – $16.27M
NOI $976,063 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
52
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
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?
Apartment building - Multifamily property with varied apartment layouts, RA-1 zoning, and access to Metro service and major commuter routes.
Where is this apartment building located?
The property is located at 3104 Bruce Pl SE Washington, DC.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 52‑unit multifamily property on a 1.2‑acre parcel; Approximately 27,007 SF across 2 property addresses; Unit mix: 10 one‑bedroom, 38 two‑bedroom, and 4 three‑bedroom apartments
