Updated 4-Unit
For Sale
$500,000
1523 17TH Street SE, Washington, DC 20020
Multi-Family, WASHINGTON, DC
Property Size2,720 SF
Lot Size0.06 Acres
Price / SF$183.82
Days on Market100
Property Features for 1523 17TH Street SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
On Street
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
2,720 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4574
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1941
Number of units
4
Building materials
Brick
Architectural style
Federal
Listing Agency:
Compass
(202) 545-6900
Listed By:
Jacob Anderson · License #Br200200699
(202) 669-7842
Added: May 22
Changed: Aug 21
Last Checked: Aug 29 at 10:06AM
MLS# DCDC2263380
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 4-unit quadplex contains 2,720 square feet in a brick Federal-style building constructed in 1941. All four units have been refreshed and updated, while hot-water heating serves the property. The building occupies a 0.0601-acre lot and includes rear alley access.
Located at 1523 17th Street SE in Washington, DC 20020, the property provides on-street parking. Units 2 and 4 are available for showing at any time, with access to the remaining units available with sufficient notice.
Located at 1523 17th Street SE in Washington, DC 20020, the property provides on-street parking. Units 2 and 4 are available for showing at any time, with access to the remaining units available with sufficient notice.
Key Highlights
- 4‑unit quadplex with 2,720 square feet
- All units recently refreshed and updated
- 0.0601‑acre lot with rear alley access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brick Federal-style income property with refreshed units, rear alley access, and on-street parking.
Where is this quadplex located?
The property is located at 1523 17TH Street SE 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 quadplex with 2,720 square feet; All units recently refreshed and updated; 0.0601‑acre lot with rear alley access
