Vacant Four-Unit Brick
For Sale
$599,000
3317 15TH Street SE, Washington, DC 20032
Multi-Family, WASHINGTON, DC
Property Size2,520 SF
Lot Size0.09 Acres
Price / SF$237.70
Days on Market166
Property Features for 3317 15TH Street SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Middle school
JOHNSON
High school
BALLOU SENIOR
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,520 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4603
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Building Details
Year built
1945
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
RE/MAX Allegiance · RE/MAX International
(202) 547-5600
Listed By:
Nathaniel Tate · License #SP96896
(202) 262-8819
Added: Apr 2
Changed: Sep 13
Last Checked: Sep 14 at 2:06AM
MLS# DCDC2253854
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant quadplex at 3317 15th Street SE contains 2,520 square feet across four residential units. The configuration includes two 1-bedroom units and two 2-bedroom units, providing a defined mix within the building. Constructed in 1945, the property has brick construction, hot water heating, central air, and on-street parking. The site encompasses 0.092 acres.
The property is in Washington, DC 20032, with access to Anacostia Metro Station and Congress Heights Metro Station. Anacostia Park, the Frederick Douglass National Historic Site, neighborhood dining, and retail along Martin Luther King Jr Ave SE are also identified nearby. Downtown Washington DC, Nationals Park, and major commuter routes are accessible from the property.
The property is in Washington, DC 20032, with access to Anacostia Metro Station and Congress Heights Metro Station. Anacostia Park, the Frederick Douglass National Historic Site, neighborhood dining, and retail along Martin Luther King Jr Ave SE are also identified nearby. Downtown Washington DC, Nationals Park, and major commuter routes are accessible from the property.
Key Highlights
- Four‑unit building with two 1‑bedroom units and two 2‑bedroom units
- 2,520 square feet on 0.092 acres
- Fully vacant at 3317 15th Street SE, Washington, DC 20032
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
$45,151
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
7.54%
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%
$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
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
$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 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%
$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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Vacant residential income property with a two-bedroom and one-bedroom unit mix, central air, and on-street parking.
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: Four‑unit building with two 1‑bedroom units and two 2‑bedroom units; 2,520 square feet on 0.092 acres; Fully vacant at 3317 15th Street SE, Washington, DC 20032
