Vacant Brick
New
For Sale
$1,050,000
2915 PENNSYLVANIA Avenue SE, Washington, DC 20020
Multi-Family, WASHINGTON, DC
Property Size3,398 SF
Lot Size0.07 Acres
Price / SF$309.01
Days on Market1
Property Features for 2915 PENNSYLVANIA Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
4
Parking features
Driveway, Off Street
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
3,398 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
5498
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1937
Number of units
4
Building materials
Brick
Architectural style
Federal
Listing Agency:
Craig Fauver Real Estate
(202) 643-4687
Listed By:
Craig Fauver · License #IB98374181
(202) 643-4687
Added: Aug 29
Last Checked: Aug 29 at 3:06AM
MLS# DCDC2279592
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 Federal-style brick quadplex contains four legally configured units and eight purpose-built bedrooms. The property is delivered fully vacant, allowing a new owner to renovate, occupy, or reposition the building without existing tenants. Basement plumbing, electrical, and finish work is partially complete toward a possible fifth unit, while central air installation has begun in units #1 and #2. Hot-water heating serves the building, which was constructed in 1937.
The property occupies a 0.0728-acre elevated site at 2915 Pennsylvania Avenue SE in Washington, DC. Four off-street parking spaces are located behind the building. A bus stop and Penn Branch shopping center are steps from the front door, and the property is beside the Southeast White House and DC Dream Center. The building is not currently subject to rent control or TOPA.
The property occupies a 0.0728-acre elevated site at 2915 Pennsylvania Avenue SE in Washington, DC. Four off-street parking spaces are located behind the building. A bus stop and Penn Branch shopping center are steps from the front door, and the property is beside the Southeast White House and DC Dream Center. The building is not currently subject to rent control or TOPA.
Key Highlights
- Four legally configured units with eight purpose‑built bedrooms
- 0.0728‑acre site with 3,398 square feet of property size
- Four rear off‑street parking spaces
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
$60,048
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
5.72%
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%
$1,200,960
$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
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
$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 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%
$1,200,960
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Legally configured multi-unit building with rear parking and partially completed basement improvements.
Where is this quadplex located?
The property is located at 2915 PENNSYLVANIA Avenue 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 with eight purpose‑built bedrooms; 0.0728‑acre site with 3,398 square feet of property size; Four rear off‑street parking spaces
