Four-Unit Residential Income
For Sale
$749,950
1633 W VIRGINIA Avenue NE, Washington, DC 20002
Multi-Family, WASHINGTON, DC
Property Size2,782 SF
Lot Size0.12 Acres
Price / SF$269.57
Days on Market713
Property Features for 1633 W VIRGINIA Avenue NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
Off Street, Alley
Subdivision
TRINIDAD
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
2,782 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
7213
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1931
Floors in Building
2
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Samson Properties
(202) 938-0228
Listed By:
Noble Davis · License #BR200201693
(202) 409-6326
Added: Sep 17, 2024
Changed: Aug 19
Last Checked: Aug 30 at 2:06AM
MLS# DCDC2159650
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 four-unit residential income property features two two-bedroom, one-bath units and two one-bedroom, one-bath units. Two units are currently vacant and available for immediate occupancy, while the remaining two are tenant-occupied on a month-to-month basis with recently increased rents. The roof has been replaced and numerous improvements have been completed, supporting confidence for either an owner-occupant or an investor looking to lease the available units.
The property is located at 1633 W Virginia Avenue NE in Washington, DC 20002, with convenient access to shopping, restaurants, public transportation, and other neighborhood amenities. The property is available for showings immediately, and the sellers are prepared to work with qualified purchasers and consider all reasonable offers.
The property is located at 1633 W Virginia Avenue NE in Washington, DC 20002, with convenient access to shopping, restaurants, public transportation, and other neighborhood amenities. The property is available for showings immediately, and the sellers are prepared to work with qualified purchasers and consider all reasonable offers.
Key Highlights
- Brick four‑unit building built in 1931
- Unit mix: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units
- Two units currently vacant and available for immediate occupancy
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
$53,000
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
7.07%
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%
$1,060,000
$1.1M
Cap Rate 7%
$757,143
$757.1K
Cap Rate 9%
$588,889
$588.9K
Market Conditions
NOI Build-Up for 2,782 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
$80.1K $28.80/SF
− Vacancy
−$4.4K −$1.58/SF
EGI
$75.7K $27.22/SF
− OpEx
−$22.7K −$8.16/SF
NOI
$53.0K $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%
$1,060,000
Cap Rate 7%
$757,143
Cap Rate 9%
$588,889
Alternative Uses
Best Use
Multifamily LT 5
$757.1K
$662.5K – $883.3K
NOI $53,000 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$676.6K
$592.0K – $789.4K
NOI $47,363 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,545 @ 7.0% cap · market cap 13.41%
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
1,499
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 - Four-unit building with two vacant units ready for occupancy and two one-bedroom, one-bath and two two-bedroom, one-bath residences.
Where is this quadplex located?
The property is located at 1633 W VIRGINIA Avenue NE Washington, DC.
What is the asking price?
The asking price for this property is $749,950.
What are key features of this property?
This property features: Brick four‑unit building built in 1931; Unit mix: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units; Two units currently vacant and available for immediate occupancy
