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Building Details

Year Built 1937

Construction brick

Tenancy Multi

Listing Agency: Compass

Listed By: Luis A Vivas · License #SP98361541 Show Phone

Source: Hargreaveshomesales

Added: Oct 5 Changed: Oct 8 Last Checked: Oct 7 at 4:12PM

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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 Compass

Investment Insights

Based on property information with market context.

Built in 1937, this brick apartment property contains four one-bedroom residences. Each unit has a separate electric meter and its own heat pump. Three of the four tenancies are supported by DC housing vouchers. The building also includes private decks, a front porch, and a rear storage structure with a roll-up door.

The flat roof was resurfaced in 2024, and a valid Certificate of Occupancy is on file. On-street parking is available. The property is near Gallaudet University and Union Market in Washington, DC.

Key Highlights

• Four one‑bedroom units in a brick building constructed in 1937
• Individual electric meters and a separate heat pump in each unit
• Three of four tenancies are DC housing voucher‑backed

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,269

Cap Rate

7.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,225,380 $1.2M

Cap Rate 7%

$875,271 $875.3K

Cap Rate 9%

$680,767 $680.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,216 SF

Gross rent

$92.6K $28.80/SF

− Vacancy

−$5.1K −$1.58/SF

EGI

$87.5K $27.22/SF

− OpEx

−$26.3K −$8.16/SF

NOI

$61.3K $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%

$1,225,380

Cap Rate 7%

$875,271

Cap Rate 9%

$680,767

Alternative Uses

Best Use

Multifamily LT 5

$875.3K

$765.9K – $1.02M (±1% cap)

NOI $61,269 @ 7.0% cap · market cap 7.00%

Second Best

Apartment 5plus

$782.2K

$684.4K – $912.5K (±1% cap)

NOI $54,751 @ 7.0% cap · market cap 6.26%

Theoretical Best

Office A

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,230 @ 7.0% cap · market cap 13.28%

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

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Acupuncture Home Appliance Store (Bike/Boat/Book/etc) Store Skin Care Clinic Florist

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

Lease Details

4

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

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

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Frequently Asked Questions

What type of property is this?

Quadplex - All four residences have individual electric meters and their own heat pumps.

Where is this quadplex located?

The property is located at 1724 Capitol Ave NE Washington, DC.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: Four one‑bedroom units in a brick building constructed in 1937; Individual electric meters and a separate heat pump in each unit; Three of four tenancies are DC housing voucher‑backed