4-Unit Multifamily
For Sale
$799,999
Pending
1348 NICHOLSON STREET NW, Washington, DC 20011
Four residential units occupy an oversized lot with potential for up to four rear parking spaces.
Property Size2,640 SF
Days on Market141
Property Features for 1348 NICHOLSON STREET NW
General Information
Standard status
Pending
Size
2,640 SF
Property subtype
Quadruplex
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,096
Building Details
Building Size
2,640 SF
Year Built
1935
Buildings
1
Listing Agency:
Keller Williams Capital Properties
Listed By:
Russell Carter · License #SP98377566
(202) 953-0777
Source:
Kerishull
Added: May 29
Changed: Oct 14
Last Checked: Oct 15 at 5:45AM
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
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Investment Insights
Based on property information with market context.
This 2,640-square-foot multifamily property contains four residential units in a building constructed in 1935. The oversized lot includes potential for up to four rear parking spaces, adding a practical site feature for future repositioning.
The property is located on Nicholson Street NW in Washington, DC, within the 16th Street Heights neighborhood and near the 16th Street corridor. The surrounding area provides access to public transportation, downtown DC, parks, restaurants, shopping, and other neighborhood amenities.
The property is located on Nicholson Street NW in Washington, DC, within the 16th Street Heights neighborhood and near the 16th Street corridor. The surrounding area provides access to public transportation, downtown DC, parks, restaurants, shopping, and other neighborhood amenities.
Key Highlights
- Four‑unit multifamily building totaling 2,640 square feet
- Constructed in 1935
- Oversized lot with potential for up to four rear parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,301
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$946,020
$946.0K
Cap Rate 7%
$675,729
$675.7K
Cap Rate 9%
$525,567
$525.6K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$71.3K $27.00/SF
− Vacancy
−$3.7K −$1.40/SF
EGI
$67.6K $25.60/SF
− OpEx
−$20.3K −$7.68/SF
NOI
$47.3K $17.92/SF
Area
ZIP 20011
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%
$946,020
Cap Rate 7%
$675,729
Cap Rate 9%
$525,567
Alternative Uses
Best Use
Multifamily LT 5
$675.7K
$591.3K – $788.4K
NOI $47,301 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$600.3K
$525.2K – $700.3K
NOI $42,018 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,413 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 20011, DC
67,815
Population
29,658
Households
2.3
Avg Household Size
37
Median Age
55%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
12,558
Density / Sq Mi
$108,377
Median Household Income
$69,147
Median Earnings
$1,636
Median Rent
$722,200
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units occupy an oversized lot with potential for up to four rear parking spaces.
Where is this quadplex located?
The property is located at 1348 NICHOLSON STREET NW Washington, DC.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Four‑unit multifamily building totaling 2,640 square feet; Constructed in 1935; Oversized lot with potential for up to four rear parking spaces
