Building Details

Building Size 14,300 SF

Year Built 1937

Buildings 1

Stories 2

Listing Agency: RE/MAX Realty Services

Listed By: Ellerson Spurlock IV · License #SP98363031 Show Phone

Source: Kerishull

Added: Aug 20 Changed: Oct 3 Last Checked: Oct 7 at 5:35PM

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Investment Insights

Based on property information with market context.

This vacant two-story apartment building contains 15 units, including 14 three-bedroom, one-bath apartments and a one-bedroom, one-bath basement unit. The property offers 14,300 square feet of gross building area plus a basement level, with a laundry room included in the building. Originally built in 1937, the property underwent a complete renovation in 2026 and is described as being delivered in move-in condition.

The asset occupies a 9,360-square-foot lot at 2100 15th Street SE in Washington, DC. It is zoned R-3 and represents an established multifamily use. The unit configuration combines a predominantly three-bedroom layout with a smaller basement apartment, while the on-site laundry room provides an additional building feature.

Key Highlights

• 15 total units: 14 three‑bedroom/one‑bath apartments and one 1BR/1BA basement unit
• 14,300 square feet of gross building area plus a basement level
• Complete renovation in 2026; built in 1937

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$225,748

Cap Rate

6.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,514,960 $4.5M

Cap Rate 7%

$3,224,971 $3.2M

Cap Rate 9%

$2,508,311 $2.5M

Market Conditions

NOI Build-Up for 14,300 SF

Gross rent

$437.6K $30.60/SF

− Vacancy

−$27.1K −$1.90/SF

EGI

$410.5K $28.70/SF

− OpEx

−$184.7K −$12.92/SF

NOI

$225.7K $15.79/SF

Area

ZIP 20020

Vacancy

6.20%

Lease Rate

$30.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,514,960

Cap Rate 7%

$3,224,971

Cap Rate 9%

$2,508,311

Alternative Uses

Best Use

Apartment 5plus

$3.22M

$2.82M – $3.76M (±1% cap)

NOI $225,748 @ 7.0% cap · market cap 6.64%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$7.38M

$6.46M – $8.61M (±1% cap)

NOI $516,818 @ 7.0% cap · market cap 15.20%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Nail Salon Hair Salon Kitchen & Bath Showroom

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

15

Residential units

Location Intelligence

Trade Area within ½ mile

1,132

Businesses Nearby

Explore this area Business Placement

Demographics for 20020, DC

51,616

Population

26,376

Households

2

Avg Household Size

34

Median Age

28%

College-Educated

89%

High-School Grad

4.6 sq mi

ZIP Area

11,221

Density / Sq Mi

$53,015

Median Household Income

$48,752

Median Earnings

$1,317

Median Rent

$442,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Vacant two-story apartment property with a renovated unit mix, basement apartment, and on-site laundry room.

Where is this apartment building located?

The property is located at 2100 15TH STREET SE Washington, DC.

What is the asking price?

The asking price for this property is $3,400,000.

What are key features of this property?

This property features: 15 total units: 14 three‑bedroom/one‑bath apartments and one 1BR/1BA basement unit; 14,300 square feet of gross building area plus a basement level; Complete renovation in 2026; built in 1937