Renovated 4-Unit Multifamily
For Sale
$1,174,000
Pending
4020 8th Street Northeast, Washington, DC 20017
Renovated four-unit property with three occupied 3-bedroom units and one vacant unit, separately metered for gas and electric.
Property Size3,488 SF
Days on Market157
Property Features for 4020 8th Street Northeast
General Information
Standard status
Pending
Size
3,488 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Fee Simple
Zoning
RA-1
Occupancy
75%
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,168
Amenities
No
2+ Access Exits, Level Entry - Main
No Pool
Building Details
Year Built
1938
Year Renovated
2019
Tenancy
Multi
Listing Agency:
Keller Williams Capital Properties
(703) 297-2730
Listed By:
Stefan Rosu · License #SP98377007
(703) 297-2730
Source:
Compass
Added: Mar 21
Changed: Aug 8
Last Checked: Aug 5 at 11:28AM
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.
Renovated four-unit multifamily building featuring three-bedroom, one-bath layouts across all units, with stainless steel appliances, granite countertops, and renovated bathrooms. Three units include a combo washer and dryer, while the property also offers a coin-operated laundry machine for larger loads. Heat is provided by individual boilers located in the basement, with boilers replaced in 2019. Cooling is provided through window AC units. Units are separately metered for gas and electric, while the owner pays water, sewer, trash, and common electric. A partially finished basement includes individual hot water heaters replaced in 2019, large tenant storage lockers, and coin-operated laundry.
The property is located in Brookland within Washington, DC city limits and is reported to be 0.8 miles from the Brookland-CUA Metro, 0.7 miles from Catholic University, and 0.5 miles from Turkey Thicket Recreation Center.
The property is located in Brookland within Washington, DC city limits and is reported to be 0.8 miles from the Brookland-CUA Metro, 0.7 miles from Catholic University, and 0.5 miles from Turkey Thicket Recreation Center.
Key Highlights
- Renovated 4‑unit building (Year built 1938) in Brookland with 3 occupied 3BR/1BA units and 1 vacant unit
- Average rent is $2,800/month; all units are approximately 800 SF, each with 3 bedrooms and 1 bath
- Renovations completed in 2019 include stainless steel appliances, granite countertops, and renovated bathrooms in all units
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
$62,495
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
5.32%
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%
$1,249,900
$1.2M
Cap Rate 7%
$892,786
$892.8K
Cap Rate 9%
$694,389
$694.4K
Market Conditions
NOI Build-Up for 3,488 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
$94.2K $27.00/SF
− Vacancy
−$4.9K −$1.40/SF
EGI
$89.3K $25.60/SF
− OpEx
−$26.8K −$7.68/SF
NOI
$62.5K $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%
$1,249,900
Cap Rate 7%
$892,786
Cap Rate 9%
$694,389
Alternative Uses
Best Use
Multifamily LT 5
$892.8K
$781.2K – $1.04M
NOI $62,495 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$827.9K
$724.4K – $965.9K
NOI $57,955 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,588 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 20017, DC
20,293
Population
9,252
Households
2.2
Avg Household Size
37
Median Age
59%
College-Educated
92%
High-School Grad
2.2 sq mi
ZIP Area
9,224
Density / Sq Mi
$101,543
Median Household Income
$74,399
Median Earnings
$1,793
Median Rent
$686,400
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 - Renovated four-unit property with three occupied 3-bedroom units and one vacant unit, separately metered for gas and electric.
Where is this quadplex located?
The property is located at 4020 8th Street Northeast Washington, DC.
What is the asking price?
The asking price for this property is $1,174,000.
What are key features of this property?
This property features: Renovated 4‑unit building (Year built 1938) in Brookland with 3 occupied 3BR/1BA units and 1 vacant unit; Average rent is $2,800/month; all units are approximately 800 SF, each with 3 bedrooms and 1 bath; Renovations completed in 2019 include stainless steel appliances, granite countertops, and renovated bathrooms in all units
