Multifamily Income
For Sale
$2,520,000
1702 16th Street NW, Washington, DC 20009
Residential income multifamily property for sale in Washington, DC.
Property Size5,035 SF
Price / SF$500.50
Days on Market335
Property Features for 1702 16th Street NW
General Information
Standard status
Active
Size
5,035 SF
Property subtype
Multi-Family
Building Details
Year Built
1885
Listing Agency:
Greysteel Company LLC
(202) 280-2722
Listed By:
Ari Firoozabadi · License #PB98361353
(202) 280-2722
Source:
Xome
Added: Aug 30, 2025
Changed: Jul 10
Last Checked: Jun 14 at 2:06AM
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 Greysteel Company LLC
Investment Insights
Based on property information with market context.
This offering is a residential income multifamily property, structured as other multifamily housing and presented for sale. The available information focuses on the property’s income-oriented multifamily classification, with the asset positioned to support rental housing needs.
The property is located at 1702 16th Street NW in Washington, DC 20009. It is being marketed as a for-sale investment opportunity, with a specified list price and an identified property size of 5,035.
From a buyer’s perspective, this type of multifamily asset is typically considered by investors or operators looking to acquire residential rental real estate. If you are underwriting or evaluating multifamily ownership in Washington, DC, the key next step is to review the property’s unit mix, current tenancy, and income and expense details during your due diligence. With those operational and financial factors confirmed, a property like this can be evaluated for its fit within an investor’s broader residential income strategy.
The property is located at 1702 16th Street NW in Washington, DC 20009. It is being marketed as a for-sale investment opportunity, with a specified list price and an identified property size of 5,035.
From a buyer’s perspective, this type of multifamily asset is typically considered by investors or operators looking to acquire residential rental real estate. If you are underwriting or evaluating multifamily ownership in Washington, DC, the key next step is to review the property’s unit mix, current tenancy, and income and expense details during your due diligence. With those operational and financial factors confirmed, a property like this can be evaluated for its fit within an investor’s broader residential income strategy.
Key Highlights
- Residential income multifamily property for sale in Washington, DC
- Built in 1885
- Zoned RA‑9
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $189.1k | $37.56 |
| − Vacancy | −$11.0k | −$2.18 |
| EGI | $178.1k | $35.38 |
| − OpEx | −$80.2k | −$15.92 |
| NOI | $98.0k | $19.46 |
5,035 SF · lease $37.56/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,980 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.27M – $3.02M
NOI $181,289 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15,687
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
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?
Multifamily property - Residential income multifamily property for sale in Washington, DC.
Where is this multifamily property located?
The property is located at 1702 16th Street NW Washington, DC.
What is the asking price?
The asking price for this property is $2,520,000.
What are key features of this property?
This property features: Residential income multifamily property for sale in Washington, DC; Built in 1885; Zoned RA‑9
