Three-Unit Brick
For Sale
$599,000
16 GALVESTON Place SW, Washington, DC 20032
Multi-Family, WASHINGTON, DC
Property Size2,800 SF
Lot Size0.12 Acres
Price / SF$213.93
Days on Market70
Property Features for 16 GALVESTON Place SW
General Information
Property type
Residential Multi Family
Property subtype
Triplex
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
2,800 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
6192
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1944
Number of units
3
Building materials
Brick
Listing Agency:
Samson Properties
(301) 850-0255
Listed By:
NWABUEZE KENNETH OKWODU · License #SP200201583
(301) 559-2872
Added: Jun 22
Changed: Aug 19
Last Checked: Aug 30 at 5:06AM
MLS# DCDC2269264
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 2,800-square-foot triplex, built in 1944, contains three residential units: one three-bedroom residence and two two-bedroom units. The building features brick construction, central air conditioning, and heat pump heating. Parking is provided on the street, and the property is being sold strictly as-is.
The 0.115-acre parcel is located in Washington, DC 20032. Prospective buyers must independently verify the Certificate of Occupancy, Basic Business License, rental compliance, zoning, and other applicable regulatory requirements. Rental strategies, including market-rate leasing or participation in the DC voucher program, remain subject to applicable rules, licensing, and buyer due diligence.
The 0.115-acre parcel is located in Washington, DC 20032. Prospective buyers must independently verify the Certificate of Occupancy, Basic Business License, rental compliance, zoning, and other applicable regulatory requirements. Rental strategies, including market-rate leasing or participation in the DC voucher program, remain subject to applicable rules, licensing, and buyer due diligence.
Key Highlights
- Three‑unit configuration with one 3‑bedroom unit and two 2‑bedroom units
- 2,800 square feet of building area on a 0.115‑acre parcel
- Brick construction dating to 1944
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
$50,168
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
8.38%
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%
$1,003,360
$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
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
$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 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%
$1,003,360
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Brick multifamily property with a three-bedroom residence and two additional 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‑unit configuration with one 3‑bedroom unit and two 2‑bedroom units; 2,800 square feet of building area on a 0.115‑acre parcel; Brick construction dating to 1944
