Renovated Three-Unit
For Sale
$1,599,900
1414 Pennsylvania Ave Se, Washington, DC 20003
MU-4 zoning supports residential and commercial use within this furnished, vacant property.
Property Size2,726 SF
Price / SF$586.90
Days on Market145
Property Features for 1414 Pennsylvania Ave Se
General Information
Standard status
Active
Size
2,726 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$17,432
Listing Agency:
Compass
(202) 802-5434
Listed By:
Anousha Nikjouian · License #BR200200996
(202) 802-5434
Source:
Exprealty
Added: Mar 20
Changed: Aug 10
Last Checked: Aug 11 at 12:56PM
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 Compass
Investment Insights
Based on property information with market context.
This three-unit triplex includes two 2BR/2BA apartments at 1414 Pennsylvania Ave SE and one 2BR/2BA apartment at 1416 Pennsylvania Ave SE. The units are fully renovated, furnished, and delivered vacant, with updated kitchens, HVAC, electrical, and mechanical systems behind a classic brick facade. The property was formerly operated as short-term rentals, and all three Airbnb listings carry 5.0-star ratings.
Located on Pennsylvania Ave SE in Capitol Hill, the property is within walking distance of Eastern Market, Potomac Ave Metro, The Roost, and Barracks Row. MU-4 zoning allows mixed-use residential and commercial applications, including residential, retail, or office use. The property also includes established listings that may be transferred to a new owner.
Located on Pennsylvania Ave SE in Capitol Hill, the property is within walking distance of Eastern Market, Potomac Ave Metro, The Roost, and Barracks Row. MU-4 zoning allows mixed-use residential and commercial applications, including residential, retail, or office use. The property also includes established listings that may be transferred to a new owner.
Key Highlights
- Three fully renovated 2BR/2BA units: two at 1414 Pennsylvania Ave SE and one at 1416 Pennsylvania Ave SE
- Delivered vacant with no TOPA implications
- MU‑4 zoning permits residential, retail, or office use
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
Property Profile
Current Use
Lease Details
3
Residential units
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - MU-4 zoning supports residential and commercial use within this furnished, vacant property.
Where is this triplex located?
The property is located at 1414 Pennsylvania Ave 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 fully renovated 2BR/2BA units: two at 1414 Pennsylvania Ave SE and one at 1416 Pennsylvania Ave SE; Delivered vacant with no TOPA implications; MU‑4 zoning permits residential, retail, or office use
