Renovated 6-Unit Apartment
For Sale
$899,000
1416 EASTERN AVENUE NE, Washington, DC 20019
Fully renovated six-unit building with a mix of three- and two-bedroom apartments on a large lot with rear access.
Property Size3,762 SF
Lot Size7,627.00 Acres
Price / SF$238.97
Days on Market110
Property Features for 1416 EASTERN AVENUE NE
General Information
Standard status
Active
Size
3,762 SF
Lot size
7,627.00 Acres
Property subtype
Five Or More Units
Zoning
RA-1
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$5,292
Building Details
Building Size
3,762 SF
Year Built
1952
Listing Agency:
Keller Williams Capital Properties
Listed By:
Stefan Rosu · License #SP98377007
(703) 297-2730
Source:
Kerishull
Added: May 28
Changed: Sep 12
Last Checked: Sep 13 at 12:46PM
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
Investment Insights
Based on property information with market context.
Fully renovated 6-unit apartment building featuring three three-bedroom, one-bath units and three two-bedroom, one-bath units. The property sits on a large 7,627 SF lot and includes rear access for convenient use and operations.
Located in Deanwood, the building is approximately 0.3 miles from Metro. The property is zoned RA-1.
This configuration provides a balanced unit mix across two apartment types, with all units described as updated through full renovation.
Located in Deanwood, the building is approximately 0.3 miles from Metro. The property is zoned RA-1.
This configuration provides a balanced unit mix across two apartment types, with all units described as updated through full renovation.
Key Highlights
- Fully renovated 6‑unit apartment building built in 1952 in Deanwood
- Unit mix: 3 three‑bedroom/1‑bath units and 3 two‑bedroom/1‑bath units
- Approx. 0.3 miles to Metro
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
$64,884
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
7.22%
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%
$1,297,680
$1.3M
Cap Rate 7%
$926,914
$926.9K
Cap Rate 9%
$720,933
$720.9K
Market Conditions
NOI Build-Up for 3,762 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
$125.5K $33.36/SF
− Vacancy
−$7.5K −$2.00/SF
EGI
$118.0K $31.36/SF
− OpEx
−$53.1K −$14.11/SF
NOI
$64.9K $17.25/SF
Area
ZIP 20019
Vacancy
6.00%
Lease Rate
$33.36 /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%
$1,297,680
Cap Rate 7%
$926,914
Cap Rate 9%
$720,933
Alternative Uses
Best Use
Apartment 5plus
$926.9K
$811.1K – $1.08M
NOI $64,884 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,514 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 20019, DC
59,601
Population
29,244
Households
2
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
6.1 sq mi
ZIP Area
9,771
Density / Sq Mi
$57,031
Median Household Income
$49,707
Median Earnings
$1,174
Median Rent
$437,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated six-unit building with a mix of three- and two-bedroom apartments on a large lot with rear access.
Where is this apartment building located?
The property is located at 1416 EASTERN AVENUE NE Washington, DC.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fully renovated 6‑unit apartment building built in 1952 in Deanwood; Unit mix: 3 three‑bedroom/1‑bath units and 3 two‑bedroom/1‑bath units; Approx. 0.3 miles to Metro
