Building Details

Tenancy Multi

Listing Agency: Long & Foster Real Estate, Inc. Show Phone

Listed By: Patrick David Grantham Show Phone

Source: Hostetterrealty

Added: Jun 17 Changed: Oct 25 Last Checked: Oct 28 at 8:11AM

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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 Long & Foster Real Estate, Inc.

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Investment Insights

Based on property information with market context.

Key Highlights

• Four‑unit multifamily property built in 1939 in the Eckington neighborhood
• All units feature 2 bedrooms and 1 bath
• 3 units are currently rented month to month, and 1 unit is vacant for showing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,248

Cap Rate

4.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,104,960 $1.1M

Cap Rate 7%

$789,257 $789.3K

Cap Rate 9%

$613,867 $613.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,900 SF

Gross rent

$83.5K $28.80/SF

− Vacancy

−$4.6K −$1.58/SF

EGI

$78.9K $27.22/SF

− OpEx

−$23.7K −$8.16/SF

NOI

$55.2K $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%

$1,104,960

Cap Rate 7%

$789,257

Cap Rate 9%

$613,867

Alternative Uses

Best Use

Multifamily LT 5

$789.3K

$690.6K – $920.8K (±1% cap)

NOI $55,248 @ 7.0% cap · market cap 4.25%

Second Best

Apartment 5plus

$705.3K

$617.2K – $822.9K (±1% cap)

NOI $49,372 @ 7.0% cap · market cap 3.80%

Theoretical Best

Office A

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,809 @ 7.0% cap · market cap 8.06%

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

75%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,887

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

Where is this quadplex located?

The property is located at 1904 3RD ST NE Washington, DC.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: Four‑unit multifamily property built in 1939 in the Eckington neighborhood; All units feature 2 bedrooms and 1 bath; 3 units are currently rented month to month, and 1 unit is vacant for showing