DC Income-Producing Multifamily
For Sale
$550,000
46 FORRESTER St SW, Washington, DC 20032
Turnkey multifamily property with income potential in Washington, DC.
Property Size2,556 SF
Days on Market150
Property Features for 46 FORRESTER St SW
General Information
Standard status
Active
Size
2,556 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,033
Building Details
Building Size
2,556 SF
Year Built
1943
Units
4
Listing Agency:
RE/MAX Allegiance
(202) 262-8819
Listed By:
Nathaniel Tate · License #SP96896
(202) 262-8819
Source:
Elliman
Added: Apr 3
Changed: Aug 16
Last Checked: Aug 29 at 10:09AM
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 Allegiance
Investment Insights
Based on property information with market context.
This income-producing property in Washington, DC, features 4 bedrooms and 2 baths configured across multiple units. One unit is currently generating $1,451 per month, with total rental potential approaching $6,000 per month. The property is suitable for investors and owner-occupants, offering a house-hacking opportunity to live in one unit while renting out the others. The location provides convenient access to major commuter routes and public transportation, including the Washington Metro, facilitating commutes to downtown DC, Navy Yard, and Capitol Hill. Residents can enjoy proximity to dining, shopping, and entertainment options at The Wharf, as well as other neighborhood amenities in Southwest DC. FHA and VA buyers are welcome.
Key Highlights
- High income potential with existing $1,451/month income and total potential approaching $6,000/month.
- House‑hacking opportunity: live in one unit and rent out the others to cover mortgage costs.
- Versatile property with 4 bedrooms and 2 baths configured across multiple units, suitable for investors or owner‑occupants.
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
$45,796
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
8.33%
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%
$915,920
$915.9K
Cap Rate 7%
$654,229
$654.2K
Cap Rate 9%
$508,844
$508.8K
Market Conditions
NOI Build-Up for 2,556 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
$69.0K $27.00/SF
− Vacancy
−$3.6K −$1.40/SF
EGI
$65.4K $25.60/SF
− OpEx
−$19.6K −$7.68/SF
NOI
$45.8K $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%
$915,920
Cap Rate 7%
$654,229
Cap Rate 9%
$508,844
Alternative Uses
Best Use
Multifamily LT 5
$654.2K
$572.5K – $763.3K
NOI $45,796 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$606.7K
$530.9K – $707.8K
NOI $42,469 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $92,031 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
723
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?
Quadplex - Turnkey multifamily property with income potential in Washington, DC.
Where is this quadplex located?
The property is located at 46 FORRESTER St SW Washington, DC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: High income potential with existing $1,451/month income and total potential approaching $6,000/month.; House‑hacking opportunity: live in one unit and rent out the others to cover mortgage costs.; Versatile property with 4 bedrooms and 2 baths configured across multiple units, suitable for investors or owner‑occupants.
