Updated
For Sale
$499,900
Pending
1608 17TH PLACE SE, Washington, DC 20020
Vacant units feature modern flooring, refreshed kitchens, and readiness for immediate occupancy.
Property Size2,720 SF
Days on Market32
Property Features for 1608 17TH PLACE SE
General Information
Standard status
Pending
Size
2,720 SF
Property subtype
Quadruplex
Building Details
Year Built
1938
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Capital Properties
(202) 601-0160
Listed By:
Abel M Gebremichael
(202) 601-0160
Source:
Cummingsrealtors
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 5 at 4:35AM
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 Keller Williams Capital Properties
Investment Insights
Based on property information with market context.
This Washington, DC quadplex contains four two-bedroom units within a 2,720-square-foot building constructed in 1938. Each residence is vacant and has received updates including modern flooring and refreshed kitchens, allowing a new owner to establish occupancy and leasing terms from the outset.
The property is located at 1608 17th Place SE in Washington, DC 20020. With all four units available, the building presents a fully vacant configuration for a buyer seeking a multifamily asset with updated interiors and immediate occupancy readiness.
The property is located at 1608 17th Place SE in Washington, DC 20020. With all four units available, the building presents a fully vacant configuration for a buyer seeking a multifamily asset with updated interiors and immediate occupancy readiness.
Key Highlights
- Four‑unit multifamily building with four two‑bedroom units
- All four units are vacant
- Updated kitchens and modern flooring
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 9.62%
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
Multi-tenant
Tenancy
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 - Vacant units feature modern flooring, refreshed kitchens, and readiness for immediate occupancy.
Where is this quadplex located?
The property is located at 1608 17TH PLACE SE Washington, DC.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Four‑unit multifamily building with four two‑bedroom units; All four units are vacant; Updated kitchens and modern flooring
