Building Details

Year Built 1921

Year Renovated 2021

Buildings 1

Stories 4

Units 20

Listing Agency: ONE Street

Listed By: Kevin Brandes · License #DC SP98378229 Show Phone

Source: Crexi

Added: Feb 27 Changed: Oct 3 Last Checked: Oct 14 at 9:33PM

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Investment Insights

Based on property information with market context.

This multifamily property, located in Washington, DC, features 20 units. The building has a total size of 12,560 square feet. It is classified as an apartment building and a residential income property.

Key Highlights

• Multifamily property
• 20 Units
• Built in 1921

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$208,691

Cap Rate

2.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,173,820 $4.2M

Cap Rate 7%

$2,981,300 $3.0M

Cap Rate 9%

$2,318,789 $2.3M

Market Conditions

NOI Build-Up for 12,560 SF

Gross rent

$399.4K $31.80/SF

− Vacancy

−$20.0K −$1.59/SF

EGI

$379.4K $30.21/SF

− OpEx

−$170.7K −$13.59/SF

NOI

$208.7K $16.62/SF

Area

Washington, DC

Vacancy

5.00%

Lease Rate

$31.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,173,820

Cap Rate 7%

$2,981,300

Cap Rate 9%

$2,318,789

Alternative Uses

Best Use

Apartment 5plus

$2.98M

$2.61M – $3.48M (±1% cap)

NOI $208,691 @ 7.0% cap · market cap 2.88%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.46M

$5.65M – $7.54M (±1% cap)

NOI $452,232 @ 7.0% cap · market cap 6.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Big Box & Wholesale Store Electrical Service Auto Parts Store Building Supply Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,192

Businesses Nearby

Explore this area Business Placement

Demographics for 20010, DC

32,663

Population

15,917

Households

2.1

Avg Household Size

33

Median Age

67%

College-Educated

87%

High-School Grad

1.0 sq mi

ZIP Area

32,663

Density / Sq Mi

$110,260

Median Household Income

$81,834

Median Earnings

$1,815

Median Rent

$868,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - 20-unit multifamily building available for sale in Washington, DC.

Where is this apartment building located?

The property is located at 3126 16th St NW Washington, DC.

What is the asking price?

The asking price for this property is $7,250,000.

What are key features of this property?

This property features: Multifamily property; 20 Units; Built in 1921