Building Details

Building Size 3,044 SF

Year Built 1936

Listing Agency: Redfin Corp

Listed By: Arielle N Nagia · License #SP200206190 Show Phone

Source: Barnesrealestatecompany

Added: Apr 7 Changed: Oct 9 Last Checked: Oct 15 at 5:24AM

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Investment Insights

Based on property information with market context.

This 3,044-square-foot quadplex contains four residences, each arranged with two bedrooms and one bathroom. Built in 1936, the property is currently vacant, allowing the next owner to determine the timing and scope of leasing or improvements.

The building is in Washington, DC’s Anacostia neighborhood, near Anacostia Metro Station, with access to Downtown DC, Navy Yard, and Capitol Hill. Nearby destinations include Grounded Cafe and Wellness Studio, Capital One Cafe, and Busboys and Poets. The surrounding area also includes the Barry Farm redevelopment, the planned 11th Street Bridge Park, and the Anacostia Riverwalk Trail.

Key Highlights

• Four residences, each with 2 bedrooms and 1 bathroom
• All four units are vacant
• 3,044 square feet; built in 1936

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,792

Cap Rate

7.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,075,840 $1.1M

Cap Rate 7%

$768,457 $768.5K

Cap Rate 9%

$597,689 $597.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,044 SF

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 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 (±1% cap)

NOI $53,792 @ 7.0% cap · market cap 7.70%

Second Best

Apartment 5plus

$686.5K

$600.7K – $800.9K (±1% cap)

NOI $48,054 @ 7.0% cap · market cap 6.87%

Theoretical Best

Office A

$1.57M

$1.38M – $1.83M (±1% cap)

NOI $110,014 @ 7.0% cap · market cap 15.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Spa & Massage Center Real Estate Agency Nail Salon Hair Salon Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Each residence offers a two-bedroom, one-bath layout, and the building is vacant.

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: Four residences, each with 2 bedrooms and 1 bathroom; All four units are vacant; 3,044 square feet; built in 1936