Quadplex With Approved 8-Unit
For Sale
$795,000
2013 I STREET NE, Washington, DC 20002
RA-2-zoned rehab property with stamped plans and approved permits for redevelopment.
Property Size2,368 SF
Price / SF$335.73
Days on Market263
Property Features for 2013 I STREET NE
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Quadruplex
Zoning
RA-2
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$6,267
Building Details
Building Size
2,368 SF
Year Built
1942
Listing Agency:
Equilibrium Realty, LLC
(202) 788-6049
Listed By:
Shanu T Okwesa · License #BR200201179
(202) 788-6049
Source:
Kerishull
Added: Dec 2, 2025
Changed: Aug 21
Last Checked: Aug 21 at 11:38AM
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 Equilibrium Realty, LLC
Investment Insights
Based on property information with market context.
This 2,368-square-foot quadplex is a 1942-built rehabilitation property in Washington, DC. The redevelopment package includes stamped plans and approved permits for an eight-unit configuration within a four-level building, with plans for eight one-bedroom units. An alternate concept provides four four-bedroom units.
The property is located in the Carver/Langston area near the H Street Corridor and falls within an Opportunity Zone. Its RA-2 zoning, approved redevelopment materials, and two documented unit configurations provide a defined framework for evaluating the property’s next phase.
The property is located in the Carver/Langston area near the H Street Corridor and falls within an Opportunity Zone. Its RA-2 zoning, approved redevelopment materials, and two documented unit configurations provide a defined framework for evaluating the property’s next phase.
Key Highlights
- 2,368‑square‑foot quadplex built in 1942
- Stamped plans and approved permits for an 8‑unit buildout
- Approved concept includes a 4‑level building with eight 1BR units
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
$45,113
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
5.67%
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%
$902,260
$902.3K
Cap Rate 7%
$644,471
$644.5K
Cap Rate 9%
$501,256
$501.3K
Market Conditions
NOI Build-Up for 2,368 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
$68.2K $28.80/SF
− Vacancy
−$3.8K −$1.58/SF
EGI
$64.4K $27.22/SF
− OpEx
−$19.3K −$8.16/SF
NOI
$45.1K $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 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%
$902,260
Cap Rate 7%
$644,471
Cap Rate 9%
$501,256
Alternative Uses
Best Use
Multifamily LT 5
$644.5K
$563.9K – $751.9K
NOI $45,113 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$575.9K
$503.9K – $671.9K
NOI $40,314 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,582 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23,641
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - RA-2-zoned rehab property with stamped plans and approved permits for redevelopment.
Where is this quadplex located?
The property is located at 2013 I STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 2,368‑square‑foot quadplex built in 1942; Stamped plans and approved permits for an 8‑unit buildout; Approved concept includes a 4‑level building with eight 1BR units
