Two-Story Four-Unit Multifamily
For Sale
$650,000
2029 E St Ne, Washington, DC
RF-1-zoned two-story property with four one-bedroom units and renovation potential.
Property Size2,392 SF
Price / SF$271.74
Days on Market22
Property Features for 2029 E St Ne
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Residential Income
Zoning
RF-1
Property Condition
Severity
Repairs Needed
Evidence
has not been substantially updated in years
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,655
Building Details
Buildings
1
Stories
2
Listing Agency:
RE/MAX Allegiance
(202) 547-5600
Listed By:
Ressie R Wallace Wilson · License #SPI01315
(202) 359-9641
Source:
Exprealty
Added: Sep 15
Changed: Oct 6
Last Checked: Oct 5 at 8:01PM
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.
This two-story multifamily property contains four 1-bedroom/1-bath units, approximately 2,006 sq. ft. of above-grade living area, and a 375-sq.-ft. basement. The building has not undergone substantial updates in years, presenting a renovation and repositioning opportunity. The property is currently zoned RF-1, and vertical expansion may be explored subject to DC zoning, building code requirements, structural feasibility, permitting, and government approvals.
Located at 2029 E St NE in Washington, DC, the property is approximately 0.7 miles from Stadium-Armory Metro, which provides Blue, Orange, and Silver Line service. It is also near the planned 180-acre RFK Campus redevelopment, with plans calling for a roofed Washington Commanders stadium targeted to open in 2030, along with residences, restaurants, retail, hotels, entertainment, parks, recreation, and infrastructure improvements.
Located at 2029 E St NE in Washington, DC, the property is approximately 0.7 miles from Stadium-Armory Metro, which provides Blue, Orange, and Silver Line service. It is also near the planned 180-acre RFK Campus redevelopment, with plans calling for a roofed Washington Commanders stadium targeted to open in 2030, along with residences, restaurants, retail, hotels, entertainment, parks, recreation, and infrastructure improvements.
Key Highlights
- Four 1‑bedroom/1‑bath multifamily units
- Approximately 2,006 sq. ft. of above‑grade living area
- 375‑sq.-ft. basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,858
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,160
$857.2K
Cap Rate 7%
$612,257
$612.3K
Cap Rate 9%
$476,200
$476.2K
Market Conditions
NOI Build-Up for 2,392 SF
Gross rent
$64.6K $27.00/SF
− Vacancy
−$3.4K −$1.40/SF
EGI
$61.2K $25.60/SF
− OpEx
−$18.4K −$7.68/SF
NOI
$42.9K $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%
$857,160
Cap Rate 7%
$612,257
Cap Rate 9%
$476,200
Alternative Uses
Best Use
Multifamily LT 5
$612.3K
$535.7K – $714.3K
NOI $42,858 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$567.8K
$496.8K – $662.4K
NOI $39,744 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,126 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,444
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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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 - RF-1-zoned two-story property with four one-bedroom units and renovation potential.
Where is this quadplex located?
The property is located at 2029 E St 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 multifamily units; Approximately 2,006 sq. ft. of above‑grade living area; 375‑sq.-ft. basement
