Quadplex Residential Income
For Sale
$720,000
171 35TH Street NE, Washington, DC 20019
MULTI_FAMILY - Federal - WASHINGTON, DC
Property Size3,230 SF
Lot Size0.08 Acres
Price / SF$222.91
Days on Market53
Property Features for 171 35TH Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Special listing conditions
Short Sale
Standard status
Active
Size
3,230 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
4124
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1941
Number of units
4
Building materials
Brick
Architectural style
Federal
Listing Agency:
Realty One Group Performance, LLC
(240) 583-1183
Listed By:
RUSSELL F BROWN · License #SP98377919
(202) 256-5964
Added: Jul 9
Last Checked: Aug 30 at 6:06AM
MLS# DCDC2272100
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 for-sale quadplex (residential income property) is sized at 3,230 square feet and sits on a lot of 0.0785 acres. The seller indicates the building will be delivered 75% vacant, creating a workable starting point for an ownership group looking to reposition and stabilize unit occupancy.
The property is located in Washington, DC at 171 35th Street NE, 20019. The seller describes the area as having substantial ongoing development and highlights access to public transportation, with the metro, grocery stores, pharmacy, and banks within walking distance.
For buyers and operators, the current vacancy level may support a phased approach to bringing the property back to full utilization. With delivery of most of the building vacant at close, the new owner can plan unit-by-unit improvements and leasing strategy based on the specific condition of the remaining occupied spaces and the vacant units being readied for future renters.
The property is located in Washington, DC at 171 35th Street NE, 20019. The seller describes the area as having substantial ongoing development and highlights access to public transportation, with the metro, grocery stores, pharmacy, and banks within walking distance.
For buyers and operators, the current vacancy level may support a phased approach to bringing the property back to full utilization. With delivery of most of the building vacant at close, the new owner can plan unit-by-unit improvements and leasing strategy based on the specific condition of the remaining occupied spaces and the vacant units being readied for future renters.
Key Highlights
- Brick building built in 1941 with Federal architectural style
- Hot water (heating) system
- Building to be delivered 75% vacant
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
$62,352
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
8.66%
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%
$1,247,040
$1.2M
Cap Rate 7%
$890,743
$890.7K
Cap Rate 9%
$692,800
$692.8K
Market Conditions
NOI Build-Up for 3,230 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
$95.0K $29.40/SF
− Vacancy
−$5.9K −$1.82/SF
EGI
$89.1K $27.58/SF
− OpEx
−$26.7K −$8.27/SF
NOI
$62.4K $19.30/SF
Area
ZIP 20019
Vacancy
6.20%
Lease Rate
$29.40 /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%
$1,247,040
Cap Rate 7%
$890,743
Cap Rate 9%
$692,800
Alternative Uses
Best Use
Multifamily LT 5
$890.7K
$779.4K – $1.04M
NOI $62,352 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$795.8K
$696.4K – $928.5K
NOI $55,708 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,502 @ 7.0% cap · market cap 16.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25%
Occupancy
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 20019, DC
59,601
Population
29,244
Households
2
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
6.1 sq mi
ZIP Area
9,771
Density / Sq Mi
$57,031
Median Household Income
$49,707
Median Earnings
$1,174
Median Rent
$437,600
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 - Quadplex for sale with delivery planned at 75% vacancy, offering a reset for an incoming owner or operator.
Where is this quadplex located?
The property is located at 171 35TH Street NE Washington, DC.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Brick building built in 1941 with Federal architectural style; Hot water (heating) system; Building to be delivered 75% vacant
