Four-Unit Residential Income
For Sale
$500,000
1523 17th Street Southeast, Washington, DC 20020
Recently updated 2BR/1BA units in a four-unit building on a large lot with rear alley access.
Property Size2,720 SF
Price / SF$183.82
Days on Market100
Property Features for 1523 17th Street Southeast
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R3
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,574
Amenities
No
No Pool
Building Details
Year Built
1941
Listing Agency:
Compass
(202) 669-7842
Listed By:
Jake Anderson · License #Br200200699
(202) 669-7842
Source:
Compass
Added: May 22
Changed: Aug 25
Last Checked: Aug 28 at 6:59PM
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 Compass
Investment Insights
Based on property information with market context.
This four-unit residential income building includes four recently updated 2-bedroom, 1-bath units. The units are sited on a large lot and have rear alley access, which may provide flexibility for future use of the property.
Located in Anacostia, the listing notes walkability and transit accessibility, with a Walk Score of 78 and Transit Score of 69. Bike Score is listed as 49.
For showings, units 2 can be shown anytime, while units 1, 3, and 4 require sufficient notice.
Located in Anacostia, the listing notes walkability and transit accessibility, with a Walk Score of 78 and Transit Score of 69. Bike Score is listed as 49.
For showings, units 2 can be shown anytime, while units 1, 3, and 4 require sufficient notice.
Key Highlights
- 4‑unit building (Year Built 1941) with recently updated 2BR/1BA units
- Large lot with rear alley access that could allow for off‑street parking
- Units 2 can be shown anytime; Units 1, 3 & 4 require sufficient notice
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
$42,939
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
8.59%
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%
$858,780
$858.8K
Cap Rate 7%
$613,414
$613.4K
Cap Rate 9%
$477,100
$477.1K
Market Conditions
NOI Build-Up for 2,720 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
$83.2K $30.60/SF
− Vacancy
−$5.2K −$1.90/SF
EGI
$78.1K $28.70/SF
− OpEx
−$35.1K −$12.92/SF
NOI
$42.9K $15.79/SF
Area
ZIP 20020
Vacancy
6.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
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%
$858,780
Cap Rate 7%
$613,414
Cap Rate 9%
$477,100
Alternative Uses
Best Use
Multifamily LT 5
$686.7K
$600.8K – $801.1K
NOI $48,066 @ 7.0% cap · market cap 9.61%
Second Best
Apartment 5plus
$613.4K
$536.7K – $715.7K
NOI $42,939 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,304 @ 7.0% cap · market cap 19.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,247
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Recently updated 2BR/1BA units in a four-unit building on a large lot with rear alley access.
Where is this quadplex located?
The property is located at 1523 17th Street Southeast Washington, DC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 4‑unit building (Year Built 1941) with recently updated 2BR/1BA units; Large lot with rear alley access that could allow for off‑street parking; Units 2 can be shown anytime; Units 1, 3 & 4 require sufficient notice
