Turnkey 5-Unit Multifamily
For Sale
$849,900
4230 6th Street Southeast, Washington, DC 20032
Turnkey 5-unit multifamily with five 2BR/1BA homes, fully renovated in 2025, featuring modern in-unit amenities.
Property Size3,236 SF
Price / SF$262.64
Days on Market128
Property Features for 4230 6th Street Southeast
General Information
Standard status
Active
Size
3,236 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R-5
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$3,293
Amenities
No
Refrigerator, Stove, Dishwasher, Washer, Dryer
Smoke Detector, Window Grills
No Pool
Building Details
Year Built
1953
Year Renovated
2025
Tenancy
Multi
Listing Agency:
RE/MAX Executives LLC
(202) 710-3342
Listed By:
Mukaram Ghani · License #ABR98378454
(202) 710-3342
Source:
Compass
Added: Apr 19
Changed: Aug 8
Last Checked: Jul 21 at 7:38AM
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 Executives LLC
Investment Insights
Based on property information with market context.
This turnkey 5-unit multifamily property was comprehensively renovated in 2025 and includes five 2-bedroom, 1-bath units. Four units are located inside the main building, and one unit has a separate exterior entrance. Each unit is described as updated with stainless steel appliances, in-unit washer/dryer, LVP flooring, and central heating and cooling.
The property is located in the District of Columbia in city limits. It is positioned for convenience to the Metro Green Line, I-295/I-495, the Entertainment & Sports Arena, and the St. Elizabeths redevelopment.
The building also includes a large backyard, which is noted as having potential to be converted into resident parking; buyers are advised to verify feasibility. The seller states no major capital improvements are required.
The property is located in the District of Columbia in city limits. It is positioned for convenience to the Metro Green Line, I-295/I-495, the Entertainment & Sports Arena, and the St. Elizabeths redevelopment.
The building also includes a large backyard, which is noted as having potential to be converted into resident parking; buyers are advised to verify feasibility. The seller states no major capital improvements are required.
Key Highlights
- 5‑unit multifamily built in 1953, with five 2BR/1BA units (approx. 625 SF each).
- Comprehensively renovated in 2025 with modern finishes throughout.
- Each unit includes updated stainless steel appliances and in‑unit washer/dryer.
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
$53,768
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
6.33%
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%
$1,075,360
$1.1M
Cap Rate 7%
$768,114
$768.1K
Cap Rate 9%
$597,422
$597.4K
Market Conditions
NOI Build-Up for 3,236 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
$102.9K $31.80/SF
− Vacancy
−$5.1K −$1.59/SF
EGI
$97.8K $30.21/SF
− OpEx
−$44.0K −$13.59/SF
NOI
$53.8K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,075,360
Cap Rate 7%
$768,114
Cap Rate 9%
$597,422
Alternative Uses
Best Use
Apartment 5plus
$768.1K
$672.1K – $896.1K
NOI $53,768 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.46M – $1.94M
NOI $116,515 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
780
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 5-unit multifamily with five 2BR/1BA homes, fully renovated in 2025, featuring modern in-unit amenities.
Where is this apartment building located?
The property is located at 4230 6th Street Southeast Washington, DC.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 5‑unit multifamily built in 1953, with five 2BR/1BA units (approx. 625 SF each).; Comprehensively renovated in 2025 with modern finishes throughout.; Each unit includes updated stainless steel appliances and in‑unit washer/dryer.
