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    Renovated Triplex with Income Potential Title is generated by Realmo AI

    15 GALVESTON Place SW, Washington, DC 20032

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    Claim this Listing
    For Sale
    $799,900

    MULTI_FAMILY - Federal - WASHINGTON, DC

    Property size:
    2,720 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $294/SF
    Added:
    Apr 14, 2026
    Days on Market:
    34
    Last Refresh:
    May 17 at 12:06 am

    Property Features for 15 GALVESTON Place SW

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    On Street
    Appliances
    Stove, Microwave, Refrigerator, Disposal
    Standard status
    Active
    Size
    2,720 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3683

    Utilities

    Heating system
    Hot Water(Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1943
    Number of units
    3
    Building materials
    Brick
    Architectural style
    Federal

    We can help!

    Listing Contact
    Dagmawi Alemayehu

    Listing agent Dagmawi Alemayehu License #SP200201930

    Listing office Samson Properties 8455 Colesville Road unit: 11, Chantilly, DC

    Listing date Apr 14, 2026

    MLS# DCDC2250174 Listing URL

    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.

    HighLights

    • High Cash Flow: Generating $8,400/month from two renovated units.
    • Value‑Add Opportunity: Unfinished basement configured for a 1‑bedroom, 1‑bathroom apartment.
    • Fully Renovated: Triplex renovated in 2022 with updated cabinetry, stainless steel appliances, and quartz countertops.
    • Large Units: Two units with 5 bedrooms and 2 full bathrooms each.
    • Financing Options: Qualify for 100% financing and closing cost assistance.
    • Modern Amenities: Central air conditioning and updated appliances.

    Overview

    This renovated triplex, located in WASHINGTON, DC, presents an opportunity for investors and first-time homebuyers. The building contains two units with 5 bedrooms and 2 full bathrooms each. A third unfinished unit in the basement is configured as a one-bedroom, one-bathroom apartment, featuring plumbing, egress windows, and a ceiling height of 7 feet. Renovated in 2022, the property includes updated cabinetry, stainless steel appliances, and quartz countertops. The main and upper-level units offer spacious layouts. The basement presents a value-add opportunity as a third unit. The property generates $8,400/month in cash flow from two units. The lot size is 0.0929 acres, and the property size is 2720 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $541.5K
    NOI $48,735 @ 9.00% cap · cautious / downside scenario
    Moderate
    $696.2K
    NOI $48,735 @ 7.00% cap · market / base-case scenario
    Aggressive
    $974.7K
    NOI $48,735 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $73.4k $27.00
    − Vacancy −$3.8k −$1.40
    EGI $69.6k $25.60
    − OpEx −$20.9k −$7.68
    NOI $48.7k $17.92
    2,720 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $696.2K
    $609.2K – $812.3K (±1% cap)
    NOI $48,735 @ 7.0% cap · market cap 6.09%
    Second Best
    Apartment 5plus
    $645.6K
    $564.9K – $753.2K (±1% cap)
    NOI $45,194 @ 7.0% cap · market cap 5.65%
    Theoretical Best
    Office A
    $1.40M
    $1.22M – $1.63M (±1% cap)
    NOI $97,936 @ 7.0% cap · market cap 12.24%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Map

    City
    Washington
    County
    District of Columbia
    State
    District of Columbia
    Longitude
    -77.0083581
    Latitude
    38.8246422

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    FAQs

    What type of property is this?
    Triplex - Fully renovated triplex generating $8,400/month cash flow from two units.
    Where is this triplex located?
    The property is located at 15 GALVESTON Place SW Washington, DC.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: High Cash Flow: Generating $8,400/month from two renovated units.; Value‑Add Opportunity: Unfinished basement configured for a 1‑bedroom, 1‑bathroom apartment.; Fully Renovated: Triplex renovated in 2022 with updated cabinetry, stainless steel appliances, and quartz countertops.
    (202) 222-5704
    We can help!
    Listing Contact
    Dagmawi Alemayehu
    Real Estate License ID: SP200201930
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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