All-Brick Four-Unit
For Sale
$585,000
1704 West Virginia Ave NE, Washington, DC 20002
All-brick four-unit building with two 2-bedroom units and two 1-bedroom plus den units, sold as-is.
Property Size2,560 SF
Price / SF$228.52
Days on Market97
Property Features for 1704 West Virginia Ave NE
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Ivy City
Additional Details
Multifamily Units
4
Building Details
Year Built
1931
Construction
brick
Tenancy
Multi
Listing Agency:
Thompson Premier Homes Group.
Listed By:
Eboneese M. Thompson
(240) 480-1616
Source:
Themelaninteam
Added: Jul 25
Changed: Oct 25
Last Checked: Oct 28 at 11:21AM
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 Thompson Premier Homes Group.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This all-brick four-unit multifamily property includes two 2-bedroom units and two 1-bedroom plus den units. The building is being sold strictly as-is and requires renovation. This offering is being handled as a short sale and is subject to third-party approval.
The property is located at 1704 West Virginia Avenue NE in Washington, DC. Public remarks indicate the address is within minutes of Gallaudet University, Union Market, Ivy City, NoMa, and the H Street Corridor, with nearby points of interest including Trader Joe’s, Whole Foods Market, Atlas Brew Works, City Winery, the U.S. National Arboretum, the Metropolitan Branch Trail, and the NoMa-Gallaudet Metro Station.
The current unit mix provides straightforward configuration for an investor or owner looking to renovate and reimagine the property. Buyers should verify zoning, any condominium conversion requirements, and development potential with the appropriate governmental authorities.
The property is located at 1704 West Virginia Avenue NE in Washington, DC. Public remarks indicate the address is within minutes of Gallaudet University, Union Market, Ivy City, NoMa, and the H Street Corridor, with nearby points of interest including Trader Joe’s, Whole Foods Market, Atlas Brew Works, City Winery, the U.S. National Arboretum, the Metropolitan Branch Trail, and the NoMa-Gallaudet Metro Station.
The current unit mix provides straightforward configuration for an investor or owner looking to renovate and reimagine the property. Buyers should verify zoning, any condominium conversion requirements, and development potential with the appropriate governmental authorities.
Key Highlights
- All‑brick four‑unit multifamily building built in 1931, sold strictly as‑is.
- Unit mix: two 2‑bedroom units and two 1‑bedroom plus den units.
- Value‑add property requiring a complete renovation.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,771
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$975,420
$975.4K
Cap Rate 7%
$696,729
$696.7K
Cap Rate 9%
$541,900
$541.9K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$73.7K $28.80/SF
− Vacancy
−$4.1K −$1.58/SF
EGI
$69.7K $27.22/SF
− OpEx
−$20.9K −$8.16/SF
NOI
$48.8K $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%
$975,420
Cap Rate 7%
$696,729
Cap Rate 9%
$541,900
Alternative Uses
Best Use
Multifamily LT 5
$696.7K
$609.6K – $812.9K
NOI $48,771 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$622.6K
$544.8K – $726.4K
NOI $43,583 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,521 @ 7.0% cap · market cap 15.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All-brick four-unit building with two 2-bedroom units and two 1-bedroom plus den units, sold as-is.
Where is this quadplex located?
The property is located at 1704 West Virginia Ave NE Washington, DC.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: All‑brick four‑unit multifamily building built in 1931, sold strictly as‑is.; Unit mix: two 2‑bedroom units and two 1‑bedroom plus den units.; Value‑add property requiring a complete renovation.
