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Building Details

Buildings 1

Listing Agency: Chatel Real Estate, Inc.

Listed By: John T Taylor · License #BR89427 Show Phone

Source: Imanirealtors

Added: Jul 21 Changed: Oct 13 Last Checked: Oct 14 at 10:42PM

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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 Chatel Real Estate, Inc.

Investment Insights

Based on property information with market context.

Built in 1915, this 2,500-square-foot quadplex contains four self-contained residences with one-bedroom-plus-den layouts. The largest residence spans two levels and is currently vacant, while two units include patio areas. A basement provides laundry and storage space, and residents pay their own electricity, gas, and water/sewer service.

The property is located at 1923 35th Pl NW in Washington, DC’s Burleith area, one block from a quiet residential street setting. Georgetown is a few blocks south, while Safeway, Trader Joe’s, restaurants, and Wisconsin Avenue shops are located around the corner.

Key Highlights

• Four self‑contained units with one‑bedroom‑plus‑den layouts
• 2,500‑square‑foot quadplex built in 1915
• Largest residence spans two levels and is currently vacant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,793

Cap Rate

3.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$895,860 $895.9K

Cap Rate 7%

$639,900 $639.9K

Cap Rate 9%

$497,700 $497.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,500 SF

Gross rent

$67.5K $27.00/SF

− Vacancy

−$3.5K −$1.40/SF

EGI

$64.0K $25.60/SF

− OpEx

−$19.2K −$7.68/SF

NOI

$44.8K $17.92/SF

Area

Washington, DC

Vacancy

5.20%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$895,860

Cap Rate 7%

$639,900

Cap Rate 9%

$497,700

Alternative Uses

Best Use

Multifamily LT 5

$639.9K

$559.9K – $746.6K (±1% cap)

NOI $44,793 @ 7.0% cap · market cap 3.46%

Second Best

Apartment 5plus

$593.4K

$519.2K – $692.3K (±1% cap)

NOI $41,539 @ 7.0% cap · market cap 3.21%

Theoretical Best

Office A

$1.29M

$1.13M – $1.50M (±1% cap)

NOI $90,014 @ 7.0% cap · market cap 6.95%

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 Auto Repair Shop Dental Office Auto Parts Store Barber Shop Electrical Service Computer & Electronic Repair

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

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

2,870

Businesses Nearby

Explore this area Business Placement

Demographics for 20007, DC

26,827

Population

13,583

Households

2

Avg Household Size

35

Median Age

87%

College-Educated

98%

High-School Grad

3.1 sq mi

ZIP Area

8,654

Density / Sq Mi

$142,783

Median Household Income

$93,107

Median Earnings

$2,066

Median Rent

$1,202,900

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 - Four independent residences feature bedroom-and-den layouts, with shared laundry and storage below grade.

Where is this quadplex located?

The property is located at 1923 35TH PL NW Washington, DC.

What is the asking price?

The asking price for this property is $1,295,000.

What are key features of this property?

This property features: Four self‑contained units with one‑bedroom‑plus‑den layouts; 2,500‑square‑foot quadplex built in 1915; Largest residence spans two levels and is currently vacant