Vacant Four-Unit Multifamily
New
For Sale
$649,900
2916 SOUTHERN Ave SE, Washington, DC 20020
Four vacant residences with a 10-bedroom layout and completed exterior improvements offer a clear path for renovation and repositioning.
Property Size2,880 SF
Days on Market5
Property Features for 2916 SOUTHERN Ave SE
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR, 2 x 3BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,965
Building Details
Building Size
2,880 SF
Year Built
1944
Units
4
Listing Agency:
Tristar Realty Inc
Listed By:
Valerie D Grant · License #SP200204648
(301) 367-4311
Source:
Elliman
Added: Sep 5
Last Checked: Sep 8 at 7:02AM
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 Tristar Realty Inc
Investment Insights
Based on property information with market context.
Built in 1944, this four-unit multifamily property includes two 2-bedroom residences and two 3-bedroom residences, creating a combined 10-bedroom configuration. All units are vacant, and the interiors remain primarily original while maintained. The property is being sold as-is, allowing the next owner to determine the renovation scope and future operating plan.
Exterior work includes a newer roof, new siding, and new front and rear exterior doors. The property is located at 2916 Southern Ave SE in Washington, DC. Walk Score is 76, Transit Score is 72, and Bike Score is 50, reflecting access to walking, transit, and bicycle-oriented travel options.
Exterior work includes a newer roof, new siding, and new front and rear exterior doors. The property is located at 2916 Southern Ave SE in Washington, DC. Walk Score is 76, Transit Score is 72, and Bike Score is 50, reflecting access to walking, transit, and bicycle-oriented travel options.
Key Highlights
- Four‑unit multifamily property with 10 total bedrooms
- Unit mix includes two 2‑bedroom units and two 3‑bedroom units
- All four units are vacant
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
$50,894
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
7.83%
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%
$1,017,880
$1.0M
Cap Rate 7%
$727,057
$727.1K
Cap Rate 9%
$565,489
$565.5K
Market Conditions
NOI Build-Up for 2,880 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
$77.8K $27.00/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$72.7K $25.25/SF
− OpEx
−$21.8K −$7.57/SF
NOI
$50.9K $17.67/SF
Area
ZIP 20020
Vacancy
6.50%
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%
$1,017,880
Cap Rate 7%
$727,057
Cap Rate 9%
$565,489
Alternative Uses
Best Use
Multifamily LT 5
$727.1K
$636.2K – $848.2K
NOI $50,894 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$649.5K
$568.3K – $757.8K
NOI $45,465 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,086 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
415
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?
Quadplex - Four vacant residences with a 10-bedroom layout and completed exterior improvements offer a clear path for renovation and repositioning.
Where is this quadplex located?
The property is located at 2916 SOUTHERN Ave SE Washington, DC.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Four‑unit multifamily property with 10 total bedrooms; Unit mix includes two 2‑bedroom units and two 3‑bedroom units; All four units are vacant
