Building Details

Building Size 2,782 SF

Year Built 1931

Listing Agency: Keller Williams Select Realtors of Annapolis Show Phone

Listed By: Gary Cook

Source: Thetristaterealestategroup

Added: Sep 17, 2024 Changed: Oct 5 Last Checked: Oct 14 at 9:28PM

Report an Issue

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 Select Realtors of Annapolis

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This four-unit building presents an opportunity for investors or owner-occupants. The property comprises two two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units. Currently, two units are vacant and available for showings, while the other two are occupied on a month-to-month basis with recently increased rents. The roof has been replaced, and several other improvements have been made. The building's location offers convenient access to stores and other amenities.

Key Highlights

• Four‑unit building: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units.
• Opportunity for owner‑occupancy and rental income.
• Two vacant units available for immediate occupancy or rental.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,000

Cap Rate

7.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,060,000 $1.1M

Cap Rate 7%

$757,143 $757.1K

Cap Rate 9%

$588,889 $588.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,782 SF

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 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 (±1% cap)

NOI $53,000 @ 7.0% cap · market cap 7.07%

Second Best

Apartment 5plus

$676.6K

$592.0K – $789.4K (±1% cap)

NOI $47,363 @ 7.0% cap · market cap 6.32%

Theoretical Best

Office A

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,545 @ 7.0% cap · market cap 13.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Quadplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Acupuncture Home Appliance Store Nursing Home Florist Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Similar For Sale Nearby

See more

Vacant Quadplex with 1-Bed Units

1123 PENN STREET NE, Washington, DC 20002

$825,000

2,784 SF

View details

4-Unit Residential Income Property

2808 BUENA VISTA TER SE, Washington, DC 20020

$799,000

2,858 SF

View details

Brick Four-Unit Quadplex

1732 S Street SE, Washington, DC 20020

$689,000

2,720 SF

View details

Quadplex with Hardwood Interiors

3931 7Th Street NE, Washington, DC 20017

$850,000

2,800 SF

View details

Brick Four-Unit Apartment Building

2330 25TH STREET SE, Washington, DC 20020

$724,900

2,968 SF

View details

Six-Unit Multifamily Property

2513-15 22ND STREET NE, Washington, DC 20018

$800,000

2,640 SF

View details

4-Unit Quadplex with Porches

1105 NE HOLBROOK TERRACE NE, Washington, DC 20002

$899,000

View details

Four-Unit Multifamily Property

4002 S CAPITOL ST SE, Washington, DC 20032

$575,000

2,800 SF

View details

Vacant Four-Unit Quadplex

133 35th St NE, Washington, DC 20019

$599,000

2,720 SF

View details

Brick Quadplex

1508 V Street SE, Washington, DC 20020

$699,000

3,044 SF

View details

Renovated Brick Quadplex

1518 ISHERWOOD Street NE, Washington, DC 20002

$975,000

2,841 SF

View details

Four-Unit Colonial Apartment Building

1819 D Street NE, Washington, DC 20002

$850,000

2,582 SF

View details

Frequently Asked Questions

What type of property is this?

Quadplex - Four units, ideal for investors or owner-occupants.

Where is this quadplex located?

The property is located at 1633 West 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: Four‑unit building: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units.; Opportunity for owner‑occupancy and rental income.; Two vacant units available for immediate occupancy or rental.**