Kingman Park Multifamily Investment
For Sale
$999,999
1835 D Street NE, Washington, DC 20002
Renovated multifamily property near transit, dining, and recreation.
Property Size2,960 SF
Price / SF$337.84
Days on Market280
Property Features for 1835 D Street NE
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1938
Listing Agency:
Own Real Estate
Listed By:
Jeremiah Abu-Bakr
(202) 957-8332
Source:
Deepcreeklake
Added: Dec 7, 2025
Changed: Sep 12
Last Checked: Sep 12 at 11:01AM
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 Own Real Estate
Investment Insights
Based on property information with market context.
This well-located property is situated in the heart of Kingman Park, offering convenient access to parks, transit, and vibrant city living. It is just moments from Anacostia Park and the Anacostia Riverwalk Trail, providing miles of outdoor recreation including biking, jogging, and waterfront green space. The property is ideally positioned near the H Street NE corridor with easy access to dining, retail, and entertainment. Commuting is seamless with the nearby Stadium-Armory Metro Station (Orange, Blue, and Silver Lines), offering quick connections to Capitol Hill, downtown DC, and Northern Virginia. All units are vacant and have been renovated within the last five years, featuring updated interiors that complement the property’s prime location. The property is in close proximity to the RFK Stadium campus redevelopment, major commuter routes, and everyday amenities. The bike score is 97, indicating a biker's paradise. The walk score is 78, indicating the area is very walkable. The transit score is 72, indicating excellent transit options.
Key Highlights
- Prime location in Kingman Park with convenient access to parks, transit, and H Street NE corridor.
- Renovated units with updated interiors.
- Excellent transit score (72) with easy access to Stadium‑Armory Metro Station.
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
$50,393
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
5.04%
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%
$1,007,860
$1.0M
Cap Rate 7%
$719,900
$719.9K
Cap Rate 9%
$559,922
$559.9K
Market Conditions
NOI Build-Up for 2,960 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
$97.7K $33.00/SF
− Vacancy
−$6.1K −$2.05/SF
EGI
$91.6K $30.95/SF
− OpEx
−$41.2K −$13.93/SF
NOI
$50.4K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,007,860
Cap Rate 7%
$719,900
Cap Rate 9%
$559,922
Alternative Uses
Best Use
Apartment 5plus
$719.9K
$629.9K – $839.9K
NOI $50,393 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,978 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,189
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property near transit, dining, and recreation.
Where is this apartment building located?
The property is located at 1835 D Street NE Washington, DC.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Prime location in Kingman Park with convenient access to parks, transit, and H Street NE corridor.; Renovated units with updated interiors.; Excellent transit score (72) with easy access to Stadium‑Armory Metro Station.
