Contemporary Four-Unit
For Sale
$2,995,000
1461 CHAPIN Street NW, Washington, DC 20009
Multi-Family, WASHINGTON, DC
Property Size5,306 SF
Lot Size0.05 Acres
Price / SF$564.46
Days on Market292
Property Features for 1461 CHAPIN Street NW
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
2
Parking features
Garage, Driveway, On Street
Subdivision
COLUMBIA HEIGHTS
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Special listing conditions
In Foreclosure
Standard status
Active
Size
5,306 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
35230
Utilities
Heating system
Central, Forced Air
Cooling system
Central Air
Amenities
in-unit washer and dryer
tankless water heater
private rooftop
rear balcony
parking
Building Details
Year built
1916
Number of units
4
Building materials
Brick
Architectural style
Contemporary
Listing Agency:
EXP Realty, LLC
(888) 860-7369
Listed By:
O'Ranti J. Robinson · License #BR98372120
(301) 318-1427
Added: Nov 26, 2025
Changed: Sep 13
Last Checked: Sep 14 at 2:06AM
MLS# DCDC2223342
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,306-square-foot brick quadplex contains four residences within a contemporary renovation of a 1916 building. Units 1 through 3 each offer 2BR/2BA layouts with modern cabinetry, white marble kitchen counters, name-brand appliances, custom windows and doors, oak flooring, and in-unit laundry. The three-level fourth residence includes 3BR/3.5BA, a rear balcony, and private rooftop city views. Each unit has front and rear entry and exit, while tankless water heaters serve the residences. Heating is provided by forced air and central systems, with central air conditioning.
The property includes a secure rear parking lot/garage, with a separate deed and tax number, along with on-street parking and a driveway. Located in Washington’s Columbia Heights community near the U Street Corridor, 14th and 16th Street attractions, Meridian Hill Park, and restaurants. No C of O is in place.
The property includes a secure rear parking lot/garage, with a separate deed and tax number, along with on-street parking and a driveway. Located in Washington’s Columbia Heights community near the U Street Corridor, 14th and 16th Street attractions, Meridian Hill Park, and restaurants. No C of O is in place.
Key Highlights
- Four‑unit building with three 2BR/2BA residences and one 3BR/3.5BA, three‑level penthouse unit
- 5,306 square feet on a 0.05‑acre lot
- 1916 brick building renovated a few years ago
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
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Open Analytics
Current Use
Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Renovated brick investment property with distinct two- and three-bedroom residences, private outdoor space, and secured rear parking.
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: Four‑unit building with three 2BR/2BA residences and one 3BR/3.5BA, three‑level penthouse unit; 5,306 square feet on a 0.05‑acre lot; 1916 brick building renovated a few years ago
