Turnkey Multifamily Property in
For Sale
$699,000
2859 Denver St SE, Washington, DC 20020
Renovated, furnished 5-unit property in Southeast Washington, DC.
Property Size3,780 SF
Price / SF$184.92
Days on Market184
Property Features for 2859 Denver St SE
General Information
Standard status
Active
Size
3,780 SF
Property subtype
Multi-Family
Building Details
Year Built
1943
Listing Agency:
Samson Properties
Listed By:
Matt Naha · License #SP40002975
(202) 670-7029
Source:
Gklegacygroup
Added: Apr 15
Changed: Oct 13
Last Checked: Oct 7 at 2:00PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This is a turnkey 5-unit multifamily property located in the Hillcrest neighborhood of Southeast Washington, DC. The property, located at 2859 Denver St SE, consists of five 1-bedroom, 1-bath units. Each unit is fully renovated and delivered furnished, featuring updated kitchens and bathrooms, new flooring, in-unit washer/dryers, smart TVs, and dedicated workspaces. The property is currently operated as furnished rentals, utilizing a combination of platform-based bookings and direct leasing. The building is currently occupied and generating rental income, with rents approximately $1,800 per unit per month. Electric is separately metered for each unit. The property is located within a federally designated Opportunity Zone and HUBZone, which may offer potential tax benefits for qualified investors. It is conveniently situated near Naylor Road Metro, Skyland Town Center, neighborhood retail, and major commuter routes. The transit score is 72, indicating excellent transit options. The walk score is 66, indicating the area is somewhat walkable. The bike score is 34, indicating the area is somewhat bikeable.
Key Highlights
- Turnkey, fully renovated and furnished 5‑unit multifamily property.
- Generating rental income with rents approximately $1,800 per unit per month.
- Each unit features updated kitchens and bathrooms, new flooring, in‑unit washer/dryers, smart TVs, and dedicated workspaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,673
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,193,460
$1.2M
Cap Rate 7%
$852,471
$852.5K
Cap Rate 9%
$663,033
$663.0K
Market Conditions
NOI Build-Up for 3,780 SF
Gross rent
$115.7K $30.60/SF
− Vacancy
−$7.2K −$1.90/SF
EGI
$108.5K $28.70/SF
− OpEx
−$48.8K −$12.92/SF
NOI
$59.7K $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%
$1,193,460
Cap Rate 7%
$852,471
Cap Rate 9%
$663,033
Alternative Uses
Best Use
Apartment 5plus
$852.5K
$745.9K – $994.6K
NOI $59,673 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,613 @ 7.0% cap · market cap 19.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
589
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
Check the figures for this property
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 - Renovated, furnished 5-unit property in Southeast Washington, DC.
Where is this apartment building located?
The property is located at 2859 Denver St SE Washington, DC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Turnkey, fully renovated and furnished 5‑unit multifamily property.; Generating rental income with rents approximately $1,800 per unit per month.; Each unit features updated kitchens and bathrooms, new flooring, in‑unit washer/dryers, smart TVs, and dedicated workspaces.
