Renovated Six-Unit Apartment
For Sale
$1,695,000
1615 SE 28TH PLACE SE, Washington, DC 20020
Updated multifamily asset delivered vacant with tenant-paid electric utilities.
Property Size3,078 SF
Price / SF$550.68
Days on Market62
Property Features for 1615 SE 28TH PLACE SE
General Information
Standard status
Active
Size
3,078 SF
Property subtype
Commercial
Site & Location
Neighborhood
Twining
Public Transit
Yes
Units
Unit Mix
5 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
6
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1955
Buildings
1
Listing Agency:
RE/MAX Premiere Selections
(301) 299-1000
Listed By:
Hector C Taborda · License #SP100725
(240) 286-4272
Source:
Cummingsrealtors
Added: Aug 29
Changed: Oct 27
Last Checked: Oct 28 at 8:07AM
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 RE/MAX Premiere Selections
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Investment Insights
Based on property information with market context.
This six-unit apartment building was constructed in 1955 and has been fully renovated throughout. The unit mix includes four 3-bedroom, 1-bath apartments on levels 1 and 2, along with one additional 3-bedroom, 1-bath unit and one 2-bedroom, 1-bath unit on the lower level. Improvements include new kitchens with appliances, in-unit washers and dryers, central HVAC, flooring, insulated windows, bathrooms, and contemporary finishes. A new fire sprinkler system has also been installed, and all units are electric with tenants responsible for their own utilities.
The property is located at 1615 SE 28th Pl SE in Washington, DC, near Metro stations and multiple bus routes. The surrounding area provides access to major commuter routes, Downtown Washington, shopping, dining, entertainment, and the upcoming Commanders stadium. The building is being delivered fully vacant.
The property is located at 1615 SE 28th Pl SE in Washington, DC, near Metro stations and multiple bus routes. The surrounding area provides access to major commuter routes, Downtown Washington, shopping, dining, entertainment, and the upcoming Commanders stadium. The building is being delivered fully vacant.
Key Highlights
- Six‑unit apartment building with four 3‑bedroom units and two additional apartments
- Fully renovated units include new kitchens, appliances, bathrooms, flooring, and finishes
- New central HVAC systems and energy‑efficient insulated windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,591
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,820
$971.8K
Cap Rate 7%
$694,157
$694.2K
Cap Rate 9%
$539,900
$539.9K
Market Conditions
NOI Build-Up for 3,078 SF
Gross rent
$94.2K $30.60/SF
− Vacancy
−$5.8K −$1.90/SF
EGI
$88.3K $28.70/SF
− OpEx
−$39.8K −$12.92/SF
NOI
$48.6K $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%
$971,820
Cap Rate 7%
$694,157
Cap Rate 9%
$539,900
Alternative Uses
Best Use
Apartment 5plus
$694.2K
$607.4K – $809.9K
NOI $48,591 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,242 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
672
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?
Apartment building - Updated multifamily asset delivered vacant with tenant-paid electric utilities.
Where is this apartment building located?
The property is located at 1615 SE 28TH PLACE SE Washington, DC.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Six‑unit apartment building with four 3‑bedroom units and two additional apartments; Fully renovated units include new kitchens, appliances, bathrooms, flooring, and finishes; New central HVAC systems and energy‑efficient insulated windows
