Three-Unit
For Sale
$599,000
16 GALVESTON PLACE SW, Washington, DC 20032
Residential income property with one three-bedroom residence and two two-bedroom units.
Property Size2,800 SF
Price / SF$213.93
Days on Market116
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Property Features for 16 GALVESTON PLACE SW
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Triplex
Units
Unit Mix
1 x 3BR, 2 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,192
Building Details
Building Size
2,800 SF
Year Built
1944
Listing Agency:
Fairfax Realty Premier
Listed By:
NWABUEZE KENNETH OKWODU · License #SP200201583
(301) 559-2872
Source:
Kerishull
Added: Jun 22
Changed: Oct 7
Last Checked: Oct 15 at 7:10AM
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 Fairfax Realty Premier
Investment Insights
Based on property information with market context.
This Washington, DC triplex contains three residential units within approximately 2,800 square feet. The configuration includes one three-bedroom unit and two additional two-bedroom units, creating a defined multi-unit layout for residential income use. The property was built in 1944 and is offered strictly as-is.
The address is 16 Galveston Place SW, Washington, DC 20032. Buyers should independently verify the Certificate of Occupancy, Basic Business License, rental compliance, zoning, and other applicable regulatory requirements as part of their due diligence.
The address is 16 Galveston Place SW, Washington, DC 20032. Buyers should independently verify the Certificate of Occupancy, Basic Business License, rental compliance, zoning, and other applicable regulatory requirements as part of their due diligence.
Key Highlights
- Three residential units in a single triplex property
- Unit mix includes one 3‑bedroom residence and two 2‑bedroom units
- Approximately 2,800 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,168
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,360
$1.0M
Cap Rate 7%
$716,686
$716.7K
Cap Rate 9%
$557,422
$557.4K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$75.6K $27.00/SF
− Vacancy
−$3.9K −$1.40/SF
EGI
$71.7K $25.60/SF
− OpEx
−$21.5K −$7.68/SF
NOI
$50.2K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,360
Cap Rate 7%
$716,686
Cap Rate 9%
$557,422
Alternative Uses
Best Use
Multifamily LT 5
$716.7K
$627.1K – $836.1K
NOI $50,168 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$664.6K
$581.5K – $775.4K
NOI $46,523 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,816 @ 7.0% cap · market cap 16.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 20032, DC
38,904
Population
19,708
Households
2
Avg Household Size
33
Median Age
23%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
7,482
Density / Sq Mi
$48,146
Median Household Income
$44,487
Median Earnings
$1,285
Median Rent
$391,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Residential income property with one three-bedroom residence and two two-bedroom units.
Where is this triplex located?
The property is located at 16 GALVESTON PLACE SW Washington, DC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three residential units in a single triplex property; Unit mix includes one 3‑bedroom residence and two 2‑bedroom units; Approximately 2,800 square feet of property size
