Vacant Four-Unit
For Sale
$1,050,000
2915 Pennsylvania Ave SE, Washington, DC 20020
Fully vacant quadplex with rear parking and basement work underway toward a possible additional unit.
Property Size3,398 SF
Price / SF$309.01
Days on Market54
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 2915 Pennsylvania Ave SE
General Information
Standard status
Active
Size
3,398 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
4
Building Details
Year Built
1937
Listing Agency:
Craig Fauver Real Estate
Listed By:
Craig Fauver · License #IB98374181
(202) 643-4687
Source:
Lgagne
Added: Aug 23
Changed: Oct 3
Last Checked: Oct 7 at 4:40PM
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 Craig Fauver Real Estate
Investment Insights
Based on property information with market context.
2915 Pennsylvania Avenue SE is a legally configured quadplex built in 1937, offering four existing units and a fully vacant delivery. The building includes purpose-built bedrooms, rather than enclosed porch conversions, while plumbing, electrical, and finish work has begun in the basement toward creating a possible fifth unit. Central air installation is also underway in Units 1 and 2.
Four off-street parking spaces are located behind the building. A bus stop is positioned immediately near the front entrance, and the property sits beside the Southeast White House and DC Dream Center in Southeast Washington, DC. The building is not currently subject to rent control, giving a new owner flexibility to renovate, occupy, or reposition the property without existing tenants in place.
Four off-street parking spaces are located behind the building. A bus stop is positioned immediately near the front entrance, and the property sits beside the Southeast White House and DC Dream Center in Southeast Washington, DC. The building is not currently subject to rent control, giving a new owner flexibility to renovate, occupy, or reposition the property without existing tenants in place.
Key Highlights
- Four legally configured units delivered fully vacant
- Basement plumbing, electrical, and finish work started toward a possible fifth unit
- Four off‑street parking spaces at the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,048
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,200,960
$1.2M
Cap Rate 7%
$857,829
$857.8K
Cap Rate 9%
$667,200
$667.2K
Market Conditions
NOI Build-Up for 3,398 SF
Gross rent
$91.7K $27.00/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$85.8K $25.25/SF
− OpEx
−$25.7K −$7.57/SF
NOI
$60.0K $17.67/SF
Area
ZIP 20020
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,200,960
Cap Rate 7%
$857,829
Cap Rate 9%
$667,200
Alternative Uses
Best Use
Multifamily LT 5
$857.8K
$750.6K – $1.00M
NOI $60,048 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$766.3K
$670.5K – $894.1K
NOI $53,643 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$1.75M
$1.54M – $2.05M
NOI $122,808 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
672
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
Frequently Asked Questions
What type of property is this?
Quadplex - Fully vacant quadplex with rear parking and basement work underway toward a possible additional unit.
Where is this quadplex located?
The property is located at 2915 Pennsylvania Ave SE Washington, DC.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Four legally configured units delivered fully vacant; Basement plumbing, electrical, and finish work started toward a possible fifth unit; Four off‑street parking spaces at the rear
