Vacant Four-Unit
For Sale
$699,000
1508 V Street SE, Washington, DC 20020
Multi-Family, WASHINGTON, DC
Property Size3,044 SF
Lot Size0.10 Acres
Price / SF$229.63
Days on Market160
Property Features for 1508 V Street SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
On Street
Middle school
KRAMER
High school
ANACOSTIA SENIOR
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
3,044 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
7229
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1936
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Redfin Corp
(202) 759-7581
Listed By:
Arielle N Nagia · License #SP200206190
(240) 401-2341
Added: Apr 7
Changed: Sep 2
Last Checked: Sep 13 at 5:06PM
MLS# DCDC2254678
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 3,044-square-foot quadplex contains four two-bedroom, one-bath apartments and is delivered fully vacant. Built in 1936, the building has brick construction, central heating, central air conditioning, and on-street parking. The unit layouts provide a consistent configuration across the property, with all apartments available for leasing or further preparation.
The property is located in Washington, DC’s Anacostia neighborhood near Anacostia Metro Station. Downtown DC, Navy Yard, and Capitol Hill are accessible from the property, while 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.
The property is located in Washington, DC’s Anacostia neighborhood near Anacostia Metro Station. Downtown DC, Navy Yard, and Capitol Hill are accessible from the property, while 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‑unit quadplex delivered fully vacant
- Unit mix includes four 2‑bedroom, 1‑bath apartments
- 3,044 square feet on a 0.096‑acre lot
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
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
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 two-bedroom apartments are delivered vacant with central heating and air conditioning.
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‑unit quadplex delivered fully vacant; Unit mix includes four 2‑bedroom, 1‑bath apartments; 3,044 square feet on a 0.096‑acre lot
