Stabilized 5-Unit Furnished
For Sale
$750,989
2859 DENVER STREET, Washington, DC 20020
Renovated 5-unit, each separately metered and furnished, with in-unit washer/dryer and queen bed.
Property Size3,780 SF
Lot Size0.10 Acres
Price / SF$198.67
Days on Market110
Property Features for 2859 DENVER STREET
General Information
Standard status
Active
Size
3,780 SF
Class
B
Lot size
0.10 Acres
Property subtype
Multi-Family
Occupancy
100%
Financials
Cap Rate
9%
Opportunity Zone
Yes
Additional Details
Furnished
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,863
Amenities
in-unit washer/dryer
smart TV
queen bed
dedicated workspace
Keurig
full kitchenware
Central Air
3
Vinyl
Built Up, Flat
Parking.
On Street.
Building Details
Year Built
1943
Year Renovated
2025
Stories
2
Listing Agency:
(202) 670-7029
Listed By:
Samson Properties
(202) 670-7029
Source:
Xome
Added: Apr 23
Changed: Aug 8
Last Checked: Aug 10 at 2:32AM
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 fully stabilized 5-unit multifamily property was built in 1943 and comprehensively renovated in 2025. Each unit is a furnished 1BR/1BA with a dedicated workspace, smart TV, queen bed, Keurig, and full kitchenware, along with an in-unit washer/dryer. The building is all-electric and separately metered per unit, with shared water only. The roof was replaced in 2018.
The property is located in the Naylor Gardens area of Southeast Washington, DC. It sits on a 4,560 SF lot and totals 3,780 gross SF. The offering highlights nearby neighborhood development activity within one mile, including Phase 3 of Skyland Town Center and the Barry Farm Redevelopment.
All five units are currently 100% occupied and generating annualized gross income of $92,703, with a stated pro forma NOI of $67,589. Federal Opportunity Zone and HUBZone designations are noted as potential tax advantages for qualifying buyers. A full offering memorandum, financials, and rent roll are available to qualified buyers with a signed confidentiality agreement. Showings are by appointment only with advance notice; please do not disturb or approach occupants.
The property is located in the Naylor Gardens area of Southeast Washington, DC. It sits on a 4,560 SF lot and totals 3,780 gross SF. The offering highlights nearby neighborhood development activity within one mile, including Phase 3 of Skyland Town Center and the Barry Farm Redevelopment.
All five units are currently 100% occupied and generating annualized gross income of $92,703, with a stated pro forma NOI of $67,589. Federal Opportunity Zone and HUBZone designations are noted as potential tax advantages for qualifying buyers. A full offering memorandum, financials, and rent roll are available to qualified buyers with a signed confidentiality agreement. Showings are by appointment only with advance notice; please do not disturb or approach occupants.
Key Highlights
- Comprehensively renovated 5‑unit multifamily built in 1943, with 3,780 gross SF on a 4,560 SF lot
- Five individually metered 1BR/1BA units, each fully furnished and equipped with in‑unit washer/dryer and a queen bed
- Each unit includes dedicated workspace, smart TV, Keurig, and full kitchenware
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
7.95%
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 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,613 @ 7.0% cap · market cap 18.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Renovated 5-unit, each separately metered and furnished, with in-unit washer/dryer and queen bed.
Where is this apartment building located?
The property is located at 2859 DENVER STREET Washington, DC.
What is the asking price?
The asking price for this property is $750,989.
What are key features of this property?
This property features: Comprehensively renovated 5‑unit multifamily built in 1943, with 3,780 gross SF on a 4,560 SF lot; Five individually metered 1BR/1BA units, each fully furnished and equipped with in‑unit washer/dryer and a queen bed; Each unit includes dedicated workspace, smart TV, Keurig, and full kitchenware
