Multifamily
For Sale
$829,900
2823 4th St NE, Washington, DC 20002
Traditional multifamily property with gas-fired hot water service and on-street parking.
Property Size3,480 SF
Price / SF$238.48
Days on Market77
Property Features for 2823 4th St NE
General Information
Standard status
Active
Size
3,480 SF
Property subtype
Business Opportunity
Building Details
Year Built
1941
Listing Agency:
RE/MAX Advantage Realty
Listed By:
Shurnell Cathey · License #SP100818
(202) 391-1199
Source:
Kandorre
Added: Aug 1
Changed: Oct 7
Last Checked: Oct 15 at 3:41AM
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 Advantage Realty
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Investment Insights
Based on property information with market context.
This multifamily property offers 3,480 square feet within a traditional building constructed in 1941. The property includes natural gas service, hot water, and a gas water heater, with on-street parking identified among the exterior features.
The property is located at 2823 4th Street NE in Washington, DC 20002, within RF-1 zoning. Its established construction date and straightforward building systems provide a defined physical profile for multifamily ownership or evaluation.
The property is located at 2823 4th Street NE in Washington, DC 20002, within RF-1 zoning. Its established construction date and straightforward building systems provide a defined physical profile for multifamily ownership or evaluation.
Key Highlights
- 3,480‑square‑foot multifamily property
- RF‑1 zoning
- Built in 1941
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,246
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,184,920
$1.2M
Cap Rate 7%
$846,371
$846.4K
Cap Rate 9%
$658,289
$658.3K
Market Conditions
NOI Build-Up for 3,480 SF
Gross rent
$114.8K $33.00/SF
− Vacancy
−$7.1K −$2.05/SF
EGI
$107.7K $30.95/SF
− OpEx
−$48.5K −$13.93/SF
NOI
$59.2K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,184,920
Cap Rate 7%
$846,371
Cap Rate 9%
$658,289
Alternative Uses
Best Use
Apartment 5plus
$846.4K
$740.6K – $987.4K
NOI $59,246 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,771 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,813
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Traditional multifamily property with gas-fired hot water service and on-street parking.
Where is this multifamily property located?
The property is located at 2823 4th St NE Washington, DC.
What is the asking price?
The asking price for this property is $829,900.
What are key features of this property?
This property features: 3,480‑square‑foot multifamily property; RF‑1 zoning; Built in 1941
