Four-Unit Multifamily
For Sale
$1,200,000
1616 ISHERWOOD STREET NE, Washington, DC 20002
Updated residential income property with one subsidized unit and three residences available for lease-up.
Property Size3,202 SF
Price / SF$374.77
Days on Market174
Property Features for 1616 ISHERWOOD STREET NE
General Information
Standard status
Active
Size
3,202 SF
Property subtype
Quadruplex
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,516
Building Details
Building Size
3,202 SF
Year Built
1932
Listing Agency:
Real Broker, LLC
(302) 480-0070
Listed By:
Norman Slye · License #SP98375116
(302) 480-0070
Source:
Kerishull
Added: Mar 10
Changed: Aug 28
Last Checked: Aug 29 at 4:15PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 1932-built quadplex contains four multifamily units, with one currently supported by Section 8 / HCV assistance and three vacant units available for occupancy. The units have been updated to current code standards, and select residences have been virtually staged. A rent roll is available upon request.
The property is located at 1616 Isherwood Street NE in Washington, DC’s Kingman Park neighborhood, on a quiet residential block with access to dining, retail, parks, and transit. Capitol Hill and the H Street Corridor are nearby, along with the future RFK Stadium redevelopment site. That project is projected to activate hundreds of acres along the Anacostia waterfront by 2030.
The property is located at 1616 Isherwood Street NE in Washington, DC’s Kingman Park neighborhood, on a quiet residential block with access to dining, retail, parks, and transit. Capitol Hill and the H Street Corridor are nearby, along with the future RFK Stadium redevelopment site. That project is projected to activate hundreds of acres along the Anacostia waterfront by 2030.
Key Highlights
- Four‑unit multifamily property built in 1932
- One unit supported by Section 8 / HCV assistance
- Three vacant units available for lease‑up
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
$61,002
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
5.08%
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%
$1,220,040
$1.2M
Cap Rate 7%
$871,457
$871.5K
Cap Rate 9%
$677,800
$677.8K
Market Conditions
NOI Build-Up for 3,202 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
$92.2K $28.80/SF
− Vacancy
−$5.1K −$1.58/SF
EGI
$87.1K $27.22/SF
− OpEx
−$26.1K −$8.16/SF
NOI
$61.0K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /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%
$1,220,040
Cap Rate 7%
$871,457
Cap Rate 9%
$677,800
Alternative Uses
Best Use
Multifamily LT 5
$871.5K
$762.5K – $1.02M
NOI $61,002 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$778.8K
$681.4K – $908.6K
NOI $54,513 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,724 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,432
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
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 - Updated residential income property with one subsidized unit and three residences available for lease-up.
Where is this quadplex located?
The property is located at 1616 ISHERWOOD STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit multifamily property built in 1932; One unit supported by Section 8 / HCV assistance; Three vacant units available for lease‑up
