4-Unit Quadplex
For Sale
$599,000
408 Newcomb St SE, Washington, DC 20032
Approved plans support a modern condominium redevelopment with rear parking planned.
Property Size2,508 SF
Price / SF$238.84
Days on Market227
Property Features for 408 Newcomb St SE
General Information
Standard status
Active
Size
2,508 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
shell condition
Site & Location
Neighborhood
Southwest
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1941
Buildings
1
Listing Agency:
Epique Realty
Listed By:
Karen Y Wright · License #608374
(301) 802-3904
Source:
Themelaninteam
Added: Mar 17
Changed: Oct 25
Last Checked: Oct 28 at 2:13PM
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 Epique Realty
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Investment Insights
Based on property information with market context.
Located at 408 Newcomb Street Southeast in Washington, DC, this 2,508-square-foot residential structure was built in 1941 and is being offered in shell condition. Approved architectural plans outline a four-unit condominium building, with each residence designed to include two bedrooms and two bathrooms. The property remains in the development phase, and the interior images are conceptual renderings rather than photographs of the existing structure.
The planned design includes a rear parking lot, while final construction is intended to follow the approved floorplans and existing permits. The property is within Washington city limits and falls within the District of Columbia Public Schools system. Residential zoning and the approved four-unit plan provide a defined framework for redevelopment.
The planned design includes a rear parking lot, while final construction is intended to follow the approved floorplans and existing permits. The property is within Washington city limits and falls within the District of Columbia Public Schools system. Residential zoning and the approved four-unit plan provide a defined framework for redevelopment.
Key Highlights
- 2,508‑square‑foot residential structure built in 1941
- Shell‑condition property awaiting full development
- Approved architectural plans for a 4‑unit condominium building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,936
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$898,720
$898.7K
Cap Rate 7%
$641,943
$641.9K
Cap Rate 9%
$499,289
$499.3K
Market Conditions
NOI Build-Up for 2,508 SF
Gross rent
$67.7K $27.00/SF
− Vacancy
−$3.5K −$1.40/SF
EGI
$64.2K $25.60/SF
− OpEx
−$19.3K −$7.68/SF
NOI
$44.9K $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%
$898,720
Cap Rate 7%
$641,943
Cap Rate 9%
$499,289
Alternative Uses
Best Use
Multifamily LT 5
$641.9K
$561.7K – $748.9K
NOI $44,936 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$595.3K
$520.9K – $694.5K
NOI $41,672 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,302 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Approved plans support a modern condominium redevelopment with rear parking planned.
Where is this quadplex located?
The property is located at 408 Newcomb St 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: 2,508‑square‑foot residential structure built in 1941; Shell‑condition property awaiting full development; Approved architectural plans for a 4‑unit condominium building
