Renovated Four-Unit
For Sale
$525,000
145 GALVESTON SW, Washington, DC 20032
Renovated multifamily property with separately metered units, decks, and updated kitchens.
Property Size2,720 SF
Days on Market126
Property Features for 145 GALVESTON SW
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$1,000
Taxes and HOA fees
Annual Taxes
$5,017
Amenities
decks
rear porch
hardwood floors
updated kitchens
Building Details
Building Size
2,720 SF
Year Built
1943
Buildings
1
Units
4
Listing Agency:
Keller Williams Realty
(240) 885-6806
Listed By:
Deborah K Reynolds · License #BR98374317
(240) 885-6806
Source:
Elliman
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 7:38PM
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 Realty
Investment Insights
Based on property information with market context.
This renovated quadplex contains four residential units, each configured with one bedroom and one bathroom. Interior features include hardwood flooring, updated kitchens, and abundant natural light. Exterior amenities include decks and a rear porch, while separate metering supports unit-level utility management. The property was built in 1943 and is maintained in renovated condition.
The property is located at 145 GALVESTON SW in Washington, DC’s Congress Heights neighborhood, near Joint Base Anacostia-Bolling and I-295. Walk Score is 67, Transit Score is 58, and Bike Score is 23, providing measurable context for access to local services and transportation options.
The property is located at 145 GALVESTON SW in Washington, DC’s Congress Heights neighborhood, near Joint Base Anacostia-Bolling and I-295. Walk Score is 67, Transit Score is 58, and Bike Score is 23, providing measurable context for access to local services and transportation options.
Key Highlights
- Four‑unit quadplex with one bedroom and one bathroom in each unit
- Renovated interiors with hardwood floors and updated kitchens
- Separate metering for each unit
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
$45,194
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
8.61%
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%
$903,880
$903.9K
Cap Rate 7%
$645,629
$645.6K
Cap Rate 9%
$502,156
$502.2K
Market Conditions
NOI Build-Up for 2,720 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
$86.5K $31.80/SF
− Vacancy
−$4.3K −$1.59/SF
EGI
$82.2K $30.21/SF
− OpEx
−$37.0K −$13.59/SF
NOI
$45.2K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /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%
$903,880
Cap Rate 7%
$645,629
Cap Rate 9%
$502,156
Alternative Uses
Best Use
Multifamily LT 5
$696.2K
$609.2K – $812.3K
NOI $48,735 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$645.6K
$564.9K – $753.2K
NOI $45,194 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,936 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 20032, DC
38,904
Population
19,708
Households
2
Avg Household Size
33
Median Age
23%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
7,482
Density / Sq Mi
$48,146
Median Household Income
$44,487
Median Earnings
$1,285
Median Rent
$391,400
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 - Renovated multifamily property with separately metered units, decks, and updated kitchens.
Where is this quadplex located?
The property is located at 145 GALVESTON SW Washington, DC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four‑unit quadplex with one bedroom and one bathroom in each unit; Renovated interiors with hardwood floors and updated kitchens; Separate metering for each unit
