4-Unit Brick
1635 W VIRGINIA Ave NE, Washington, DC 20002
For Sale
New
$939,900
Pending
Two updated two-bedroom apartments are vacant, while the remaining homes are occupied one-bedroom units.
Property Size2,854 SF
Days on Market5
Property Features for 1635 W VIRGINIA Ave NE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Keller Williams Capital Properties
Listed By:
Abel M Gebremichael · License DC SP98377913
(202) 601-0160
Source:
Elliman
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 10 at 8:00AM
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 Capital Properties
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Investment Insights
Based on property information with market context.
Built in 1931, this brick quadplex contains four apartments: two renovated two-bedroom units and two occupied one-bedroom units. The renovated apartments have refinished hardwood floors, recessed lighting, ceiling fans, and updated kitchens with white shaker cabinets, tile backsplashes, granite counters, gas ranges, and stainless steel appliances, including dishwashers. The two renovated units are vacant; the other two apartments are occupied.
The property is at 1635 W Virginia Ave NE in Washington, DC. WalkScore is 71, BikeScore is 66, and TransitScore is 62.
The property is at 1635 W Virginia Ave NE in Washington, DC. WalkScore is 71, BikeScore is 66, and TransitScore is 62.
Key Highlights
- Four apartments: two renovated 2‑bedroom units and two occupied 1‑bedroom units
- Vacant renovated apartments feature hardwood floors, recessed lighting, and modern ceiling fans
- Updated kitchens include white shaker cabinets, tile backsplashes, granite counters, gas cooking, and dishwashers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,372
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,087,440
$1.1M
Cap Rate 7%
$776,743
$776.7K
Cap Rate 9%
$604,133
$604.1K
Market Conditions
NOI Build-Up for 2,854 SF
Gross rent
$82.2K $28.80/SF
− Vacancy
−$4.5K −$1.58/SF
EGI
$77.7K $27.22/SF
− OpEx
−$23.3K −$8.16/SF
NOI
$54.4K $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%
$1,087,440
Cap Rate 7%
$776,743
Cap Rate 9%
$604,133
Alternative Uses
Best Use
Multifamily LT 5
$776.7K
$679.7K – $906.2K
NOI $54,372 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$694.1K
$607.4K – $809.8K
NOI $48,588 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,147 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
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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
$813,700
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Washington, DC
Properties on Market for Quadplexes in Washington
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two updated two-bedroom apartments are vacant, while the remaining homes are occupied one-bedroom units.
Where is this quadplex located?
The property is located at 1635 W VIRGINIA Ave NE Washington, DC.
What is the asking price?
The asking price for this property is $939,900.
What are key features of this property?
This property features: Four apartments: two renovated 2‑bedroom units and two occupied 1‑bedroom units; Vacant renovated apartments feature hardwood floors, recessed lighting, and modern ceiling fans; Updated kitchens include white shaker cabinets, tile backsplashes, granite counters, gas cooking, and dishwashers
