4-Unit Multifamily
For Sale
$650,000
2029 E NE, Washington, DC 20002
Two-story RF-1-zoned property with four one-bedroom, one-bath residences near Stadium-Armory Metro.
Property Size2,392 SF
Price / SF$271.74
Days on Market21
Property Features for 2029 E NE
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$3,655
Building Details
Building Size
2,392 SF
Year Built
1943
Listing Agency:
RE/MAX Allegiance
Listed By:
Ressie R Wallace Wilson · License #SPI01315
(202) 359-9641
Source:
Kerishull
Added: Sep 16
Changed: Oct 5
Last Checked: Oct 5 at 10:10PM
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 RE/MAX Allegiance
Investment Insights
Based on property information with market context.
Built in 1943, this two-story multifamily property contains four one-bedroom, one-bath units. The building provides approximately 2,006 sq. ft. of above-grade living area along with a 375-sq.-ft. basement. It is currently zoned RF-1 and has not received substantial updates in recent years.
The property is located at 2029 E NE in Washington, DC, approximately 0.7 miles from Stadium-Armory Metro, which offers Blue, Orange, and Silver Line service. It is also near the planned 180-acre RFK Campus redevelopment. Current plans for that campus include a roofed Washington Commanders stadium targeted for completion in 2030, along with residences, restaurants, retail, hotels, entertainment, parks, recreation, and infrastructure improvements.
The property is located at 2029 E NE in Washington, DC, approximately 0.7 miles from Stadium-Armory Metro, which offers Blue, Orange, and Silver Line service. It is also near the planned 180-acre RFK Campus redevelopment. Current plans for that campus include a roofed Washington Commanders stadium targeted for completion in 2030, along with residences, restaurants, retail, hotels, entertainment, parks, recreation, and infrastructure improvements.
Key Highlights
- Four 1‑bedroom/1‑bath units
- Approximately 2,006 sq. ft. of above‑grade living area
- 375‑sq.-ft. basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,570
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,400
$911.4K
Cap Rate 7%
$651,000
$651.0K
Cap Rate 9%
$506,333
$506.3K
Market Conditions
NOI Build-Up for 2,392 SF
Gross rent
$68.9K $28.80/SF
− Vacancy
−$3.8K −$1.58/SF
EGI
$65.1K $27.22/SF
− OpEx
−$19.5K −$8.16/SF
NOI
$45.6K $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%
$911,400
Cap Rate 7%
$651,000
Cap Rate 9%
$506,333
Alternative Uses
Best Use
Multifamily LT 5
$651.0K
$569.6K – $759.5K
NOI $45,570 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$581.8K
$509.0K – $678.7K
NOI $40,723 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,450 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-story RF-1-zoned property with four one-bedroom, one-bath residences near Stadium-Armory Metro.
Where is this quadplex located?
The property is located at 2029 E NE Washington, DC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four 1‑bedroom/1‑bath units; Approximately 2,006 sq. ft. of above‑grade living area; 375‑sq.-ft. basement
