Multifamily Four-Unit
For Sale
$2,995,000
1461 CHAPIN STREET NW, Washington, DC 20009
Four-unit multifamily property available for sale.
Property Size5,306 SF
Price / SF$564.46
Days on Market157
Property Features for 1461 CHAPIN STREET NW
General Information
Standard status
Active
Size
5,306 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$35,229
Building Details
Building Size
5,306 SF
Year Built
1916
Listing Agency:
EXP Realty, LLC
(301) 318-1427
Listed By:
O'Ranti J. Robinson · License #BR98372120
(301) 318-1427
Source:
Kerishull
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 29 at 1:56PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily property features four units. The total property size is 5306 square feet.
Key Highlights
- Multifamily property with 4 units.
- Price per unit: $748,750.
- Built in 1916.
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
$115,827
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
3.87%
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%
$2,316,540
$2.3M
Cap Rate 7%
$1,654,671
$1.7M
Cap Rate 9%
$1,286,967
$1.3M
Market Conditions
NOI Build-Up for 5,306 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
$175.1K $33.00/SF
− Vacancy
−$9.6K −$1.82/SF
EGI
$165.5K $31.19/SF
− OpEx
−$49.6K −$9.36/SF
NOI
$115.8K $21.83/SF
Area
ZIP 20009
Vacancy
5.50%
Lease Rate
$33.00 /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%
$2,316,540
Cap Rate 7%
$1,654,671
Cap Rate 9%
$1,286,967
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.45M – $1.93M
NOI $115,827 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,254 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$2.73M
$2.39M – $3.18M
NOI $191,047 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,390
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
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?
Quadplex - Four-unit multifamily property available for sale.
Where is this quadplex located?
The property is located at 1461 CHAPIN STREET NW Washington, DC.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Multifamily property with 4 units.; Price per unit: $748,750.; Built in 1916.
