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Spacious Columbia Heights Multifamily Property

3023 15th Street Northwest Washington, DC 20009

3023 15th Street Northwest, Washington, DC, 20009
$1,395,000
For Sale
Claim this Listing
$1,395,000

Three-unit building near Columbia Heights Metro with income potential.

Property Size4,342 SF
Price / SF$321.28
AddedMay 15
Days on Market63
Last RefreshJul 15 at 6:58 pm

Property Features for 3023 15th Street Northwest

General Information

Standard status
Active
Size
4,342 SF
Property subtype
Residential / Fee Simple

Building Details

Year Built
1907

Listing office Central Properties, LLC,

Listing date May 15, 2026

Source Compass

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 Central Properties, LLC,


Investment Insights

Based on property information with market context.

Located on a tree-lined street in Columbia Heights, this spacious three-unit building offers over 4000 square feet of living space. The property features three apartments, each individually metered and currently leased. The unit mix includes one three-bedroom apartment with two full baths on two levels, one two-bedroom apartment with 1.5 baths, and one two-bedroom apartment with one bath. All units are equipped with dishwashers, disposals, central heating and air conditioning, and washer/dryer combos. Hardwood floors are present throughout. Two units have private decks and access to the garden, while the lower-level unit has access to a rear patio and garden. The property is located one block from the Columbia Heights Metro Station and public transportation, shopping, and restaurants. It is also located minutes away from Adams Morgan and Mount Pleasant. Unit 1, a two-bedroom, one-bath unit, is rented for $2,349. Unit 2, a two-bedroom, 1.5-bath unit, is rented for $2,750. Unit 3, a three-bedroom, two-bath unit, is rented for $3,663. The annual rental income is approximately $103,176. The property is not subject to TOPA and is being sold As Is.

Key Highlights

  • High Annual Rent Income: $103,176 (+/-)
  • Prime Location: One block from Columbia Metro Station, close to shopping and restaurants
  • Spacious 3‑Unit Building: 4000+ sq ft with individually metered apartments

Local 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 $143.3k $33.00
− Vacancy −$7.9k −$1.82
EGI $135.4k $31.19
− OpEx −$40.6k −$9.36
NOI $94.8k $21.83
4,342 SF · lease $33.00/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M (±1% cap)
NOI $94,784 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M (±1% cap)
NOI $84,495 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$2.23M
$1.95M – $2.61M (±1% cap)
NOI $156,337 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

FAQs

What type of property is this?
Triplex - Three-unit building near Columbia Heights Metro with income potential.
Where is this triplex located?
The property is located at 3023 15th Street Northwest Washington, DC.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: High Annual Rent Income: $103,176 (+/-); Prime Location: One block from Columbia Metro Station, close to shopping and restaurants; Spacious 3‑Unit Building: 4000+ sq ft with individually metered apartments
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