Turnkey Two-Unit Income
404 Mellon Street Southeast Washington, DC 20032
For Sale
$639,995
Remodeled two-unit multifamily with modern finishes, updated systems, and a large backyard in Washington, DC.
Property Size2,812 SF
Price / SF$227.59
Days on Market69
Property Features for 404 Mellon Street Southeast
General Information
Standard status
Active
Size
2,812 SF
Property subtype
Multi-Family / Fee Simple
Building Details
Year Built
1943
Listing Agency:
Pearson Smith Realty LLC
(703) 543-9999
Listed By:
Joseph Hai Nguyen · License #0225247806
(703) 543-9999
Source:
Compass
Added: May 23
Changed: Jul 10
Last Checked: Jul 29 at 1:16PM
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 Pearson Smith Realty LLC
Investment Insights
Based on property information with market context.
This remodeled two-unit multifamily property offers two spacious, separately appointed residences. Each unit includes 3 bedrooms and 2 full bathrooms, with finished living areas featuring brand-new white shaker cabinets with soft-close features, quartz countertops, and stainless steel appliances. Luxury vinyl plank flooring runs through the living areas, while bedrooms have new plush carpeting. Updates also include refreshed light fixtures, outlets, and switches, along with fully updated bathrooms featuring new vanities, toilets, mirrors, and professionally reglazed bathtubs. The layout provides a spacious primary bedroom with a walk-in closet in each unit. Major system improvements include a brand-new electrical meter box and upgraded wiring to both units, along with fresh interior and exterior paint throughout.
The property is located in Washington, DC, within city limits, in the District of Columbia Public Schools system. Outside, there is a large backyard that can support outdoor use and entertaining, and ample street parking is available.
With both units fully updated and designed for comfortable everyday living, the property suits buyers seeking an owner-occupied setup or investors looking for a manageable, move-in-ready income asset. The combination of modern interior finishes, refreshed bathrooms, and updated electrical infrastructure helps reduce near-term capital concerns while supporting long-term usability.
The property is located in Washington, DC, within city limits, in the District of Columbia Public Schools system. Outside, there is a large backyard that can support outdoor use and entertaining, and ample street parking is available.
With both units fully updated and designed for comfortable everyday living, the property suits buyers seeking an owner-occupied setup or investors looking for a manageable, move-in-ready income asset. The combination of modern interior finishes, refreshed bathrooms, and updated electrical infrastructure helps reduce near-term capital concerns while supporting long-term usability.
Key Highlights
- Remodeled two‑unit multifamily home (1943) in Washington, DC, in city limits
- Each unit has 3 bedrooms and 2 full bathrooms with over 1,400 finished SF per unit
- Both units feature brand‑new white shaker cabinets (soft‑close), quartz countertops, and stainless steel appliances
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 | $75.9k | $27.00 |
| − Vacancy | −$3.9k | −$1.40 |
| EGI | $72.0k | $25.60 |
| − OpEx | −$21.6k | −$7.68 |
| NOI | $50.4k | $17.92 |
2,812 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$719.8K
$629.8K – $839.7K
NOI $50,383 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$667.5K
$584.0K – $778.7K
NOI $46,723 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,248 @ 7.0% cap · market cap 15.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled two-unit multifamily with modern finishes, updated systems, and a large backyard in Washington, DC.
Where is this duplex located?
The property is located at 404 Mellon Street Southeast Washington, DC.
What is the asking price?
The asking price for this property is $639,995.
What are key features of this property?
This property features: Remodeled two‑unit multifamily home (1943) in Washington, DC, in city limits; Each unit has 3 bedrooms and 2 full bathrooms with over 1,400 finished SF per unit; Both units feature brand‑new white shaker cabinets (soft‑close), quartz countertops, and stainless steel appliances
