Turnkey Three-Unit Multifamily
For Sale
$1,499,900
1417 Maryland Avenue NE, Washington, DC 20002
Brand-new 3-unit boutique building with separately metered units and turnkey furnishing for immediate use.
Property Size2,380 SF
Price / SF$630.21
Days on Market382
Property Features for 1417 Maryland Avenue NE
General Information
Standard status
Active
Size
2,380 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1916
Listing Agency:
Serhant
(301) 742-5759
Listed By:
Barak Sky · License #SP600552
Source:
Deepcreeklake
Added: Aug 15, 2025
Changed: Aug 27
Last Checked: Aug 30 at 5:55PM
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 Serhant
Investment Insights
Based on property information with market context.
Brand-new construction completed in late 2023, offered as a turnkey three-unit boutique building with all furnishings, supplies, décor, and systems conveying. The property includes three separately metered condo-quality units designed with reclaimed and custom finishes throughout. Each unit is configured as a distinct rental space, with options for indoor/outdoor living across multiple levels and private outdoor areas.
The property is located at 1417 Maryland Avenue NE in Washington, DC, and is described as being about one block from the H Street Corridor. Access and day-to-day convenience are supported by the walkability noted in the materials provided.
This offering supports multiple ownership or tenant strategies, including operation as short-term rentals or use as a multi-unit residential property. Unit 1 is configured as a two-bedroom, two-bath loft-style unit with two levels and front and rear porches. Unit 2 offers a one-bedroom, 1.5-bath layout with a balcony and in-unit laundry. Unit 3 is a three-level two-bedroom, 2.5-bath sky-loft arrangement with three private outdoor spaces, including rooftop decks, plus multiple interior living and flex areas. Condominium documents are described as almost complete, with the use potentially able to be changed back to a three-unit apartment building for sale as condos.
The property is located at 1417 Maryland Avenue NE in Washington, DC, and is described as being about one block from the H Street Corridor. Access and day-to-day convenience are supported by the walkability noted in the materials provided.
This offering supports multiple ownership or tenant strategies, including operation as short-term rentals or use as a multi-unit residential property. Unit 1 is configured as a two-bedroom, two-bath loft-style unit with two levels and front and rear porches. Unit 2 offers a one-bedroom, 1.5-bath layout with a balcony and in-unit laundry. Unit 3 is a three-level two-bedroom, 2.5-bath sky-loft arrangement with three private outdoor spaces, including rooftop decks, plus multiple interior living and flex areas. Condominium documents are described as almost complete, with the use potentially able to be changed back to a three-unit apartment building for sale as condos.
Key Highlights
- Brand‑new 3‑unit boutique building completed in late 2023
- Turnkey, fully furnished and stocked for immediate Airbnb operation; hosting account can transfer with the sale
- All three units are separately metered and currently actively marketed and rented on Airbnb
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
$45,342
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
3.02%
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%
$906,840
$906.8K
Cap Rate 7%
$647,743
$647.7K
Cap Rate 9%
$503,800
$503.8K
Market Conditions
NOI Build-Up for 2,380 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
$68.5K $28.80/SF
− Vacancy
−$3.8K −$1.58/SF
EGI
$64.8K $27.22/SF
− OpEx
−$19.4K −$8.16/SF
NOI
$45.3K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /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%
$906,840
Cap Rate 7%
$647,743
Cap Rate 9%
$503,800
Alternative Uses
Best Use
Multifamily LT 5
$647.7K
$566.8K – $755.7K
NOI $45,342 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$578.8K
$506.5K – $675.3K
NOI $40,519 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,016 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
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 - Brand-new 3-unit boutique building with separately metered units and turnkey furnishing for immediate use.
Where is this triplex located?
The property is located at 1417 Maryland Avenue NE Washington, DC.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Brand‑new 3‑unit boutique building completed in late 2023; Turnkey, fully furnished and stocked for immediate Airbnb operation; hosting account can transfer with the sale; All three units are separately metered and currently actively marketed and rented on Airbnb
