Five-Unit Furnished Apartment
For Sale
$699,000
2859 DENVER Street SE, Washington, DC 20020
Multi-Family, WASHINGTON, DC
Property Size3,780 SF
Lot Size0.10 Acres
Price / SF$184.92
Days on Market9
Property Features for 2859 DENVER Street SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Interior features
Bathroom - Tub Shower, Entry Level Bedroom, Floor Plan - Traditional
Appliances
Built-In Microwave, Dryer, Oven/Range - Electric, Washer, WaterHeater, Disposal
Elementary school
STANTON
Middle school
KRAMER
High school
ANACOSTIA SENIOR
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
3,780 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
5863
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Building Details
Year built
1943
Number of units
4
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Samson Properties
(240) 630-8689
Listed By:
Matt Naha · License #sp40002975
(202) 670-7029
Added: Sep 6
Changed: Sep 7
Last Checked: Sep 14 at 1:06PM
MLS# DCDC2281998
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,780-square-foot apartment building contains five furnished 1BR/1BA units, each equipped with a washer and dryer, smart TV, queen bed, and dedicated workspace. Renovated in 2025, the property is fully occupied and offers all-inclusive mid-term arrangements. Brick construction, central air, hot water heating, and individually metered all-electric systems serve the building. The property was built in 1943 and includes on-street parking.
Located at 2859 Denver Street SE in Washington, DC 20020, the 0.1047-acre site is near Skyland Town Center Phase 3, 0.3 mi away, and the Barry Farm redevelopment, 0.9 mi away. The furnished unit configuration is positioned for mid-term occupants associated with military, medical-resident, and government-contractor employment.
Located at 2859 Denver Street SE in Washington, DC 20020, the 0.1047-acre site is near Skyland Town Center Phase 3, 0.3 mi away, and the Barry Farm redevelopment, 0.9 mi away. The furnished unit configuration is positioned for mid-term occupants associated with military, medical-resident, and government-contractor employment.
Key Highlights
- Five furnished 1BR/1BA units, all occupied
- 3,780 SF apartment building on 0.1047 acres
- Renovated in 2025; built in 1943
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
$59,673
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
8.54%
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%
$1,193,460
$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
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
$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 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%
$1,193,460
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.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated Washington, DC property with flexible furnished accommodations and individually metered electric service.
Where is this apartment building located?
The property is located at 2859 DENVER Street 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: Five furnished 1BR/1BA units, all occupied; 3,780 SF apartment building on 0.1047 acres; Renovated in 2025; built in 1943
