Apartment Building with Conversion
For Sale
$948,000
2817 BUENA VISTA Ter SE, Washington, DC 20020
BZA approval supports a 16-unit apartment or condo conversion, with plans and approvals available for review.
Property Size4,522 SF
Days on Market19
Property Features for 2817 BUENA VISTA Ter SE
General Information
Standard status
Active
Size
4,522 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$33,451
Building Details
Building Size
4,522 SF
Year Built
1943
Units
4
Listing Agency:
Long & Foster Real Estate
Listed By:
Traquel Butler
(202) 351-8232
Source:
Elliman
Added: Sep 14
Changed: Sep 19
Last Checked: Oct 1 at 1:24PM
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
Investment Insights
Based on property information with market context.
This apartment building at 2817 Buena Vista Ter SE in Washington, DC, was built in 1943 and is currently vacant. The property most recently operated as a 5-unit apartment dwelling.
BZA approval is in place for a 16-unit apartment or condo conversion, and the associated plans and approvals are available for review. The location records a walk score of 76, a transit score of 72, and a bike score of 50, providing established walk, transit, and biking access within the surrounding area.
BZA approval is in place for a 16-unit apartment or condo conversion, and the associated plans and approvals are available for review. The location records a walk score of 76, a transit score of 72, and a bike score of 50, providing established walk, transit, and biking access within the surrounding area.
Key Highlights
- BZA approval for a 16‑unit apartment or condo conversion
- Most recently operated as a 5‑unit apartment dwelling
- Currently vacant
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
$71,387
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
7.53%
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%
$1,427,740
$1.4M
Cap Rate 7%
$1,019,814
$1.0M
Cap Rate 9%
$793,189
$793.2K
Market Conditions
NOI Build-Up for 4,522 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
$138.4K $30.60/SF
− Vacancy
−$8.6K −$1.90/SF
EGI
$129.8K $28.70/SF
− OpEx
−$58.4K −$12.92/SF
NOI
$71.4K $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 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%
$1,427,740
Cap Rate 7%
$1,019,814
Cap Rate 9%
$793,189
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
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Open 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
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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?
Apartment building - BZA approval supports a 16-unit apartment or condo conversion, with plans and approvals available for review.
Where is this apartment building located?
The property is located at 2817 BUENA VISTA Ter 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 approval for a 16‑unit apartment or condo conversion; Most recently operated as a 5‑unit apartment dwelling; Currently vacant
