Three-Unit Mixed-Use Short-Term
For Sale
$1,599,900
1414-1416 PENNSYLVANIA Avenue SE, Washington, DC 20003
Multi-Family, WASHINGTON, DC
Property Size2,726 SF
Lot Size0.04 Acres
Price / SF$586.90
Days on Market178
Property Features for 1414-1416 PENNSYLVANIA Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Off Street
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,726 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
17432
Utilities
Heating system
Central
Cooling system
Central Air, Ductless
Building Details
Year built
1900
Number of units
3
Building materials
Brick
Architectural style
Victorian, Contemporary
Listing Agency:
Compass
(301) 298-1001
Listed By:
Anousha Nikjouian · License #BR200200996
(202) 491-1275
Added: Mar 20
Changed: Sep 13
Last Checked: Sep 13 at 8:06AM
MLS# DCDC2251782
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit property combines two buildings at 1414 and 1416 Pennsylvania Ave SE, with two 2BR/2BA apartments at the first address and one 2BR/2BA apartment at the second. The units are furnished and vacant, with renovated interiors, kitchens, HVAC, electrical, and mechanical systems behind a brick façade. Central heating, central air, ductless cooling, and off-street parking are included. Each unit previously operated as a short-term rental and carries a 5.0-star Airbnb rating, with the listings available for transfer to a new owner.
MU-4 zoning supports mixed-use residential, retail, and office applications. The property is in Capitol Hill near Eastern Market, Potomac Ave Metro, The Roost, and Barracks Row. Its Victorian and contemporary design elements, basement, and existing three-unit configuration provide a combination of residential income use and commercial repositioning flexibility.
MU-4 zoning supports mixed-use residential, retail, and office applications. The property is in Capitol Hill near Eastern Market, Potomac Ave Metro, The Roost, and Barracks Row. Its Victorian and contemporary design elements, basement, and existing three-unit configuration provide a combination of residential income use and commercial repositioning flexibility.
Key Highlights
- Three 2BR/2BA units across 1414 and 1416 Pennsylvania Ave SE
- MU‑4 zoning supports residential, retail, and office use
- All three Airbnb listings carry 5.0‑star ratings
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
$48,842
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
3.05%
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%
$976,840
$976.8K
Cap Rate 7%
$697,743
$697.7K
Cap Rate 9%
$542,689
$542.7K
Market Conditions
NOI Build-Up for 2,726 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
$73.6K $27.00/SF
− Vacancy
−$3.8K −$1.40/SF
EGI
$69.8K $25.60/SF
− OpEx
−$20.9K −$7.68/SF
NOI
$48.8K $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%
$976,840
Cap Rate 7%
$697,743
Cap Rate 9%
$542,689
Alternative Uses
Best Use
Multifamily LT 5
$697.7K
$610.5K – $814.0K
NOI $48,842 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$647.1K
$566.2K – $754.9K
NOI $45,294 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,152 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 20003, DC
36,501
Population
20,817
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
15,870
Density / Sq Mi
$159,604
Median Household Income
$107,846
Median Earnings
$2,630
Median Rent
$954,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Vacant, furnished apartments with flexible MU-4 zoning support residential, retail, or office use.
Where is this short term rental property located?
The property is located at 1414-1416 PENNSYLVANIA Avenue SE Washington, DC.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: Three 2BR/2BA units across 1414 and 1416 Pennsylvania Ave SE; MU‑4 zoning supports residential, retail, and office use; All three Airbnb listings carry 5.0‑star ratings
