Updated Four-Unit
For Sale
$575,000
1614 R STREET SE, Washington, DC 20020
Four-unit residential property with three vacant units, one existing tenancy, and outdoor space for residents.
Property Size3,312 SF
Price / SF$173.61
Days on Market69
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Property Features for 1614 R STREET SE
General Information
Standard status
Active
Size
3,312 SF
Property subtype
Quadruplex
Building Details
Year Built
1936
Listing Agency:
Samson Properties
(301) 760-2136
Listed By:
Christopher M Chambers · License #SP98373958
(301) 775-4710
Source:
Cummingsrealtors
Added: Aug 8
Changed: Oct 15
Last Checked: Oct 15 at 1:24AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 3,312-square-foot quadplex was built in 1936 and contains four residential units. Three units are vacant, while one lower-level unit remains occupied by a long-term tenant. The two upper units each offer two bedrooms and one full bathroom. One lower unit includes one bedroom and a den. Improvements were completed in all three vacant units within the past five years, and the property includes a large backyard with additional outdoor space.
The property is near Pennsylvania Avenue, Minnesota Avenue, public transportation, neighborhood amenities, and I-295. It will convey subject to the existing tenancy. Unit configurations, lease terms, rental licensing, zoning, and permitted use should be independently verified.
The property is near Pennsylvania Avenue, Minnesota Avenue, public transportation, neighborhood amenities, and I-295. It will convey subject to the existing tenancy. Unit configurations, lease terms, rental licensing, zoning, and permitted use should be independently verified.
Key Highlights
- 3,312 SF quadplex built in 1936
- Four residential units with three currently vacant
- Two upper units each include 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,285
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,045,700
$1.0M
Cap Rate 7%
$746,929
$746.9K
Cap Rate 9%
$580,944
$580.9K
Market Conditions
NOI Build-Up for 3,312 SF
Gross rent
$101.3K $30.60/SF
− Vacancy
−$6.3K −$1.90/SF
EGI
$95.1K $28.70/SF
− OpEx
−$42.8K −$12.92/SF
NOI
$52.3K $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 Rate 5%
$1,045,700
Cap Rate 7%
$746,929
Cap Rate 9%
$580,944
Alternative Uses
Best Use
Multifamily LT 5
$836.1K
$731.6K – $975.5K
NOI $58,528 @ 7.0% cap · market cap 10.18%
Second Best
Apartment 5plus
$746.9K
$653.6K – $871.4K
NOI $52,285 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$1.71M
$1.50M – $1.99M
NOI $119,699 @ 7.0% cap · market cap 20.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,256
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
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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?
Quadplex - Four-unit residential property with three vacant units, one existing tenancy, and outdoor space for residents.
Where is this quadplex located?
The property is located at 1614 R STREET SE Washington, DC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,312 SF quadplex built in 1936; Four residential units with three currently vacant; Two upper units each include 2 bedrooms and 1 full bathroom
