Vacant Multifamily Building in
For Sale
$599,000
3317 15TH STREET SE, Washington, DC 20032
Four-unit building in Southeast DC with income potential.
Property Size2,520 SF
Price / SF$237.70
Days on Market197
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Property Features for 3317 15TH STREET SE
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$4,603
Building Details
Building Size
2,520 SF
Year Built
1945
Listing Agency:
RE/MAX Allegiance
Listed By:
Nathaniel Tate · License #SP96896
(202) 262-8819
Source:
Kerishull
Added: Apr 2
Changed: Oct 9
Last Checked: Oct 15 at 6:38AM
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 RE/MAX Allegiance
Investment Insights
Based on property information with market context.
Located in Southeast DC, this vacant four-unit building at 3317 15th St SE presents an investment opportunity. The property comprises two one-bedroom units and two two-bedroom units. The location offers convenient access to the Anacostia Metro Station and Congress Heights Metro Station. Anacostia Park, with its trails and riverfront views, and the Frederick Douglass National Historic Site are nearby. Neighborhood amenities include dining and retail options along Martin Luther King Jr Ave SE, such as Busboys and Poets and Turning Natural. The property also provides access to Downtown Washington DC, Nationals Park, and major commuter routes. The building is suitable for investors seeking to generate income or owner-occupants looking to offset their mortgage with rental income. The location has a walk score of 79, indicating it is very walkable, and a transit score of 79, indicating excellent transit options. The bike score is 43, indicating it is somewhat bikeable.
Key Highlights
- Fully vacant 4‑unit building: Set your own rents from day one.
- Strong cash flow potential: Estimated rental income approaching $6,000/month.
- Ideal for live‑in investor: Live in one unit and rent the others to cover your mortgage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,151
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$903,020
$903.0K
Cap Rate 7%
$645,014
$645.0K
Cap Rate 9%
$501,678
$501.7K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$68.0K $27.00/SF
− Vacancy
−$3.5K −$1.40/SF
EGI
$64.5K $25.60/SF
− OpEx
−$19.4K −$7.68/SF
NOI
$45.2K $17.92/SF
Area
Washington, DC
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 Rate 5%
$903,020
Cap Rate 7%
$645,014
Cap Rate 9%
$501,678
Alternative Uses
Best Use
Multifamily LT 5
$645.0K
$564.4K – $752.5K
NOI $45,151 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$598.2K
$523.4K – $697.9K
NOI $41,871 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,735 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 20032, DC
38,904
Population
19,708
Households
2
Avg Household Size
33
Median Age
23%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
7,482
Density / Sq Mi
$48,146
Median Household Income
$44,487
Median Earnings
$1,285
Median Rent
$391,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit building in Southeast DC with income potential.
Where is this quadplex located?
The property is located at 3317 15TH STREET SE Washington, DC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Fully vacant 4‑unit building: Set your own rents from day one.; Strong cash flow potential: Estimated rental income approaching $6,000/month.; Ideal for live‑in investor: Live in one unit and rent the others to cover your mortgage.
