Triplex Near
32 Varnum Street Northeast Washington, DC 20011
For Sale
$659,900
Pending
Partially converted triplex with two renovated, move-in-ready units and a lower level partially renovated.
Property Size1,406 SF
Days on Market134
Property Features for 32 Varnum Street Northeast
General Information
- Standard status
- Pending
- Size
- 1,406 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1947
Listing Agency:
Keller Williams Capital Properties
(202) 569-4246
Listed By:
MOTI SHIFERAW · License #SP40000746
(202) 569-4246
Source:
Compass
Added: Mar 13
Changed: Jul 23
Last Checked: Jul 23 at 6:02PM
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 Keller Williams Capital Properties
Investment Insights
Based on property information with market context.
This property is being converted to a triplex and is nearing completion of a fully permitted conversion. All three units will be delivered vacant, giving the next owner flexibility for immediate occupancy or rental. Two units are fully renovated and move-in ready, with modern kitchens, updated bathrooms, and new major systems that include a new roof, new HVAC system, and new water heater. The lower level has been partially renovated and offers a head start toward completion to align with the other finished units.
The property is located in Washington, DC and is within city limits. It is positioned with convenient access to public transportation and nearby retail, dining, and everyday amenities, and is approximately 5 minutes from Fort Totten Metro and 8 minutes from Takoma Park Metro. The listing also notes a newly built school directly across from the property.
With limited additional work, the partially renovated level can be completed to match the condition of the move-in-ready units.
The property is located in Washington, DC and is within city limits. It is positioned with convenient access to public transportation and nearby retail, dining, and everyday amenities, and is approximately 5 minutes from Fort Totten Metro and 8 minutes from Takoma Park Metro. The listing also notes a newly built school directly across from the property.
With limited additional work, the partially renovated level can be completed to match the condition of the move-in-ready units.
Key Highlights
- Near completion of a fully permitted triplex conversion with all three units being delivered vacant
- Two units are fully renovated and move‑in ready with modern kitchens and updated bathrooms
- Renovations include a new roof, new HVAC system, and new water heater
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 | $38.0k | $27.00 |
| − Vacancy | −$2.0k | −$1.40 |
| EGI | $36.0k | $25.60 |
| − OpEx | −$10.8k | −$7.68 |
| NOI | $25.2k | $17.92 |
1,406 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$359.9K
$314.9K – $419.9K
NOI $25,192 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$319.7K
$279.7K – $373.0K
NOI $22,378 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$725.9K
$635.2K – $846.9K
NOI $50,814 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Partially converted triplex with two renovated, move-in-ready units and a lower level partially renovated.
Where is this triplex located?
The property is located at 32 Varnum Street Northeast Washington, DC.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Near completion of a fully permitted triplex conversion with all three units being delivered vacant; Two units are fully renovated and move‑in ready with modern kitchens and updated bathrooms; Renovations include a new roof, new HVAC system, and new water heater
