Renovated Four-Unit
For Sale
$1,199,999
321 CRITTENDEN STREET NW, Washington, DC 20011
Four separately metered apartments include three renovated in 2024 with updated systems, appliances, bathrooms, and mini-split climate control.
Property Size2,720 SF
Price / SF$441.18
Days on Market37
Property Features for 321 CRITTENDEN STREET NW
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
3 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,825
Building Details
Building Size
2,720 SF
Year Built
1936
Buildings
1
Listing Agency:
TTR Sotheby's International Realty
(202) 251-7465
Listed By:
Christopher S Burns · License #SP98371993
(202) 251-7465
Source:
Kerishull
Added: Jul 10
Changed: Aug 14
Last Checked: Aug 14 at 1:12PM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 2,720-square-foot quadplex, built in 1936, contains four residential units: three 3BR/1BA apartments and one 1BR/1BA apartment. Three units received full renovations in 2024, including replacement systems, new appliances, updated bathrooms, and mini-split heating and cooling. Gas and electric service are separately metered for each apartment.
All four units are occupied, providing an existing rental operation within a largely updated building. The property information specifies drive-by access only, with interior showings limited to a ratified offer or signed LOI.
All four units are occupied, providing an existing rental operation within a largely updated building. The property information specifies drive-by access only, with interior showings limited to a ratified offer or signed LOI.
Key Highlights
- Four‑unit quadplex with three 3BR/1BA units and one 1BR/1BA unit
- 2,720 SF building constructed in 1936
- Three units fully renovated in 2024
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
$48,735
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
4.06%
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%
$974,700
$974.7K
Cap Rate 7%
$696,214
$696.2K
Cap Rate 9%
$541,500
$541.5K
Market Conditions
NOI Build-Up for 2,720 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
$73.4K $27.00/SF
− Vacancy
−$3.8K −$1.40/SF
EGI
$69.6K $25.60/SF
− OpEx
−$20.9K −$7.68/SF
NOI
$48.7K $17.92/SF
Area
ZIP 20011
Vacancy
5.20%
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%
$974,700
Cap Rate 7%
$696,214
Cap Rate 9%
$541,500
Alternative Uses
Best Use
Multifamily LT 5
$696.2K
$609.2K – $812.3K
NOI $48,735 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$618.5K
$541.2K – $721.5K
NOI $43,292 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,304 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 20011, DC
67,815
Population
29,658
Households
2.3
Avg Household Size
37
Median Age
55%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
12,558
Density / Sq Mi
$108,377
Median Household Income
$69,147
Median Earnings
$1,636
Median Rent
$722,200
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 - Four separately metered apartments include three renovated in 2024 with updated systems, appliances, bathrooms, and mini-split climate control.
Where is this quadplex located?
The property is located at 321 CRITTENDEN STREET NW Washington, DC.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Four‑unit quadplex with three 3BR/1BA units and one 1BR/1BA unit; 2,720 SF building constructed in 1936; Three units fully renovated in 2024
