Vacant Multifamily Development
For Sale
$948,000
2817 Buena Vista Terrace SE, Washington, DC 20020
Vacant property with BZA approval for a 16-unit apartment/condo conversion and plans available for review.
Property Size4,522 SF
Price / SF$209.64
Days on Market1073
Property Features for 2817 Buena Vista Terrace SE
General Information
Standard status
Active
Size
4,522 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
5
Building Details
Year Built
1943
Listing Agency:
Long & Foster Real Estate,Inc.
(888) 536-0216
Listed By:
Traquel Butler
Source:
Deepcreeklake
Added: Aug 23, 2023
Changed: Jul 27
Last Checked: Jul 28 at 10:24PM
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 Long & Foster Real Estate,Inc.
Investment Insights
Based on property information with market context.
This property is currently vacant and most recently operated as a 5-unit apartment dwelling. The site comes with BZA approval for a 16-unit “luxury apartment/condo conversion,” with all plans and approvals available for review.
Located at 2817 Buena Vista Terrace SE in Washington, DC (20020), the property sits on a huge lot, offering space for the approved redevelopment concept.
For buyers evaluating redevelopment, the key documented items are the existing vacancy status, the most recent 5-unit configuration, and the BZA-approved plan to convert to a 16-unit apartment/condo layout. The seller is making the plans and approvals available for due diligence.
Located at 2817 Buena Vista Terrace SE in Washington, DC (20020), the property sits on a huge lot, offering space for the approved redevelopment concept.
For buyers evaluating redevelopment, the key documented items are the existing vacancy status, the most recent 5-unit configuration, and the BZA-approved plan to convert to a 16-unit apartment/condo layout. The seller is making the plans and approvals available for due diligence.
Key Highlights
- BZA approved for a 16‑unit apartment/condo conversion
- Vacant property with all plans and approvals available for review
- Year built: 1943
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $138.4k | $30.60 |
| − Vacancy | −$8.6k | −$1.90 |
| EGI | $129.8k | $28.70 |
| − OpEx | −$58.4k | −$12.92 |
| NOI | $71.4k | $15.79 |
4,522 SF · lease $30.60/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$892.3K – $1.19M
NOI $71,387 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,430 @ 7.0% cap · market cap 17.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
604
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Vacant property with BZA approval for a 16-unit apartment/condo conversion and plans available for review.
Where is this apartment building located?
The property is located at 2817 Buena Vista Terrace SE Washington, DC.
What is the asking price?
The asking price for this property is $948,000.
What are key features of this property?
This property features: BZA approved for a 16‑unit apartment/condo conversion; Vacant property with all plans and approvals available for review; Year built: 1943
