Vacant Quadruplex in
For Sale
$699,000
1508 V STREET SE, Washington, DC 20020
Four vacant units near Anacostia Metro with income potential.
Property Size3,044 SF
Days on Market161
Property Features for 1508 V STREET SE
General Information
Standard status
Active
Size
3,044 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$7,229
Building Details
Building Size
3,044 SF
Year Built
1936
Listing Agency:
Redfin Corp
Listed By:
Arielle N Nagia · License #SP200206190
(240) 401-2341
Source:
Barnesrealestatecompany
Added: Apr 7
Changed: Sep 10
Last Checked: Sep 14 at 11:14AM
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 Redfin Corp
Investment Insights
Based on property information with market context.
The property at 1508 V St SE is a vacant four-unit quadruplex located in the Anacostia neighborhood. Each of the four units features a layout with 2 bedrooms and 1 bath. The property is situated minutes from the Anacostia Metro Station, providing access to Downtown DC, Navy Yard, and Capitol Hill. The property is delivered completely vacant, presenting the opportunity to lease all units immediately or implement upgrades to enhance income potential. Residents will have proximity to neighborhood spots such as Grounded Cafe and Wellness Studio, Capital One Cafe, and Busboys and Poets. The area is experiencing growth with developments such as the Barry Farm redevelopment, the planned 11th Street Bridge Park, and the Anacostia Riverwalk Trail. The location has a walk score of 74, indicating it is very walkable, and a transit score of 69, indicating good transit options. The bike score is 32, indicating it is somewhat bikeable.
Key Highlights
- Delivered completely vacant, offering immediate leasing or upgrade opportunities to maximize income potential.
- Four‑unit quadruplex in the Anacostia neighborhood.
- Each unit features two bedrooms and one bathroom with functional layouts.
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
$53,792
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
7.70%
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%
$1,075,840
$1.1M
Cap Rate 7%
$768,457
$768.5K
Cap Rate 9%
$597,689
$597.7K
Market Conditions
NOI Build-Up for 3,044 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
$82.2K $27.00/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$76.8K $25.25/SF
− OpEx
−$23.1K −$7.57/SF
NOI
$53.8K $17.67/SF
Area
ZIP 20020
Vacancy
6.50%
Lease Rate
$27.00 /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%
$1,075,840
Cap Rate 7%
$768,457
Cap Rate 9%
$597,689
Alternative Uses
Best Use
Multifamily LT 5
$768.5K
$672.4K – $896.5K
NOI $53,792 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$686.5K
$600.7K – $800.9K
NOI $48,054 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$1.57M
$1.38M – $1.83M
NOI $110,014 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
Median Home Value
Check the figures for this property
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 - Four vacant units near Anacostia Metro with income potential.
Where is this quadplex located?
The property is located at 1508 V STREET SE Washington, DC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Delivered completely vacant, offering immediate leasing or upgrade opportunities to maximize income potential.; Four‑unit quadruplex in the Anacostia neighborhood.; Each unit features two bedrooms and one bathroom with functional layouts.
