Renovated 4-Unit Apartment
2916 8th Street Northeast Washington, DC 20017
For Sale
$900,000
Renovated four-unit apartment building with three-bedroom, one-bath layouts and potential for partial vacancy at closing.
Property Size3,296 SF
Price / SF$273.06
Days on Market118
Property Features for 2916 8th Street Northeast
General Information
- Standard status
- Active
- Size
- 3,296 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1941
Listing Agency:
HomeSmart
(571) 594-6262
Listed By:
So Tayebi · License #SP200201631
(571) 594-6262
Source:
Compass
Added: Mar 31
Changed: Jul 23
Last Checked: Jul 24 at 12:23PM
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 HomeSmart
Investment Insights
Based on property information with market context.
This is a four-unit apartment building with all units renovated approximately four years ago. The apartments are configured as 3-bedroom, 1-bath layouts. The property may be delivered up to 75% vacant at closing, supporting immediate leasing of the vacant units while keeping the existing in-place tenant.
The building is located in the Brookland neighborhood of Washington, D.C., within city limits. Showings are available by appointment.
At stabilization, projected rents are approximately $12,128 per month, and expenses are described as efficiently managed at roughly 10% of gross income, with financials available for verification. For an FHA buyer, there is also an option to occupy one unit while leasing the remaining units, including the current tenant, with projected rental income of approximately $8,537 per month.
The building is located in the Brookland neighborhood of Washington, D.C., within city limits. Showings are available by appointment.
At stabilization, projected rents are approximately $12,128 per month, and expenses are described as efficiently managed at roughly 10% of gross income, with financials available for verification. For an FHA buyer, there is also an option to occupy one unit while leasing the remaining units, including the current tenant, with projected rental income of approximately $8,537 per month.
Key Highlights
- 4‑unit apartment building (Year built 1941) in the Brookland neighborhood of Washington, D.C.
- All four units renovated approximately four years ago and configured as 3‑bedroom, 1‑bath layouts.
- Can be delivered up to 75% vacant at closing—lease the three vacant units immediately while keeping the in‑place tenant.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.0k | $27.00 |
| − Vacancy | −$4.6k | −$1.40 |
| EGI | $84.4k | $25.60 |
| − OpEx | −$25.3k | −$7.68 |
| NOI | $59.1k | $17.92 |
3,296 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$843.6K
$738.2K – $984.3K
NOI $59,055 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$782.4K
$684.6K – $912.8K
NOI $54,765 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,675 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
District Property LLC ...
Real Estate Agency
FAQs
What type of property is this?
Quadplex - Renovated four-unit apartment building with three-bedroom, one-bath layouts and potential for partial vacancy at closing.
Where is this quadplex located?
The property is located at 2916 8th Street Northeast Washington, DC.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4‑unit apartment building (Year built 1941) in the Brookland neighborhood of Washington, D.C.; All four units renovated approximately four years ago and configured as 3‑bedroom, 1‑bath layouts.; Can be delivered up to 75% vacant at closing—lease the three vacant units immediately while keeping the in‑place tenant.
