Vacant 4-Unit Apartment
For Sale
$1,425,000
Pending
4512 MACARTHUR Blvd NW, Washington, DC 20007
Fully vacant quadplex with updated roof, separately metered utilities, and off-street parking on a large RA-1 lot.
Property Size3,080 SF
Days on Market62
Property Features for 4512 MACARTHUR Blvd NW
General Information
Standard status
Pending
Size
3,080 SF
Property subtype
Investment
Zoning
RA-1
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,879
Building Details
Building Size
3,080 SF
Year Built
1937
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Greysteel Company LLC
(202) 280-2722
Listed By:
Ari Firoozabadi · License #SP200205538
(202) 280-2722
Source:
Elliman
Added: Jun 22
Changed: Aug 7
Last Checked: Jul 29 at 10:14AM
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 Greysteel Company LLC
Investment Insights
Based on property information with market context.
This fully vacant 4-unit apartment building is a Palisades quad-plex configured as two 2-bedroom/1-bath units and two 1-bedroom plus den/1-bath units. The property offers approximately 3,848 square feet of gross living area across two stories, plus a semi-finished basement. All units are separately metered for gas and electricity, and each unit is served by its own newly installed Weil-McLain boiler, helping streamline utility responsibility to tenants aside from water and sewer. The building has undergone significant improvements, including a new roof (2022), upgraded windows, granite and quartz countertops, dishwashers and modernized appliances, and the installation of an off-street parking pad.
Located at 4512 MacArthur Boulevard NW, the property sits on a large 6,066 square foot lot zoned RA-1. Per the seller, it is the only building on this block with a curb cut and off-street parking. The area offers very walkable and bikeable conditions with excellent transit accessibility, and the building falls within the Key Elementary School district. The property is also described as serving rental demand from young professionals and graduate students connected with nearby Georgetown and George Washington Universities, multiple hospitals, and northern Virginia.
With 100% vacancy, the property is exempt from TOPA and rent control, creating flexibility for investors and owner-occupants. A buyer can occupy one unit while generating income from the others, or pursue market rents on all four units without below-market leases to inherit. The RA-1 lot also supports future possibilities to expand the building, add units, or consider a condominium conversion, subject to required approvals.
Located at 4512 MacArthur Boulevard NW, the property sits on a large 6,066 square foot lot zoned RA-1. Per the seller, it is the only building on this block with a curb cut and off-street parking. The area offers very walkable and bikeable conditions with excellent transit accessibility, and the building falls within the Key Elementary School district. The property is also described as serving rental demand from young professionals and graduate students connected with nearby Georgetown and George Washington Universities, multiple hospitals, and northern Virginia.
With 100% vacancy, the property is exempt from TOPA and rent control, creating flexibility for investors and owner-occupants. A buyer can occupy one unit while generating income from the others, or pursue market rents on all four units without below-market leases to inherit. The RA-1 lot also supports future possibilities to expand the building, add units, or consider a condominium conversion, subject to required approvals.
Key Highlights
- Fully vacant 4‑unit apartment building (2x 2BD/1BA and 2x 1BD + den/1BA) with approx. 3,848 SF gross living area across two stories plus semi‑finished basement
- New roof (2022) plus upgraded windows, granite and quartz countertops, and updated appliances/dishwashers
- Separate metering for gas and electricity across all four units; each unit has its own Weil‑McLain boiler for pass‑through of virtually all utility costs except water/sewer
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
$68,945
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
4.84%
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%
$1,378,900
$1.4M
Cap Rate 7%
$984,929
$984.9K
Cap Rate 9%
$766,056
$766.1K
Market Conditions
NOI Build-Up for 3,848 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
$103.9K $27.00/SF
− Vacancy
−$5.4K −$1.40/SF
EGI
$98.5K $25.60/SF
− OpEx
−$29.5K −$7.68/SF
NOI
$68.9K $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 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%
$1,378,900
Cap Rate 7%
$984,929
Cap Rate 9%
$766,056
Alternative Uses
Best Use
Multifamily LT 5
$984.9K
$861.8K – $1.15M
NOI $68,945 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$913.4K
$799.2K – $1.07M
NOI $63,936 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,550 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 20007, DC
26,827
Population
13,583
Households
2
Avg Household Size
35
Median Age
87%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
8,654
Density / Sq Mi
$142,783
Median Household Income
$93,107
Median Earnings
$2,066
Median Rent
$1,202,900
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 - Fully vacant quadplex with updated roof, separately metered utilities, and off-street parking on a large RA-1 lot.
Where is this quadplex located?
The property is located at 4512 MACARTHUR Blvd NW Washington, DC.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Fully vacant 4‑unit apartment building (2x 2BD/1BA and 2x 1BD + den/1BA) with approx. 3,848 SF gross living area across two stories plus semi‑finished basement; New roof (2022) plus upgraded windows, granite and quartz countertops, and updated appliances/dishwashers; Separate metering for gas and electricity across all four units; each unit has its own Weil‑McLain boiler for pass‑through of virtually all utility costs except water/sewer
