6-Unit Renovated Apartment
For Sale
$1,600,000
4645 HILLSIDE ROAD SE, Washington, DC 20019
Each residence has a two-bedroom, one-bathroom layout, and the property is offered in its current condition.
Property Size3,780 SF
Price / SF$423.28
Days on Market9
Property Features for 4645 HILLSIDE ROAD SE
General Information
Standard status
Active
Size
3,780 SF
Property subtype
Five Or More Units
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$9,152
Building Details
Building Size
3,780 SF
Year Built
1943
Listing Agency:
Paragon Realty, LLC
Listed By:
Dannette V Perkins · License #588588
(240) 695-2641
Source:
Kerishull
Added: Sep 24
Changed: Oct 1
Last Checked: Oct 1 at 6:10PM
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 Paragon Realty, LLC
Investment Insights
Based on property information with market context.
This 3,780-square-foot apartment building contains six residences, each arranged with two bedrooms and one full bathroom. The property was built in 1943 and has undergone renovation; it is being sold as-is.
Across the six units, the building provides 12 bedrooms and six full bathrooms. Its multi-unit configuration is suited to residential rental use.
Across the six units, the building provides 12 bedrooms and six full bathrooms. Its multi-unit configuration is suited to residential rental use.
Key Highlights
- Six residential units, each with 2 bedrooms and 1 full bathroom
- 3,780 square feet in total
- 12 bedrooms across the property
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
$65,194
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
4.07%
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%
$1,303,880
$1.3M
Cap Rate 7%
$931,343
$931.3K
Cap Rate 9%
$724,378
$724.4K
Market Conditions
NOI Build-Up for 3,780 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
$126.1K $33.36/SF
− Vacancy
−$7.6K −$2.00/SF
EGI
$118.5K $31.36/SF
− OpEx
−$53.3K −$14.11/SF
NOI
$65.2K $17.25/SF
Area
ZIP 20019
Vacancy
6.00%
Lease Rate
$33.36 /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%
$1,303,880
Cap Rate 7%
$931,343
Cap Rate 9%
$724,378
Alternative Uses
Best Use
Apartment 5plus
$931.3K
$814.9K – $1.09M
NOI $65,194 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,191 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 20019, DC
59,601
Population
29,244
Households
2
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
6.1 sq mi
ZIP Area
9,771
Density / Sq Mi
$57,031
Median Household Income
$49,707
Median Earnings
$1,174
Median Rent
$437,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has a two-bedroom, one-bathroom layout, and the property is offered in its current condition.
Where is this apartment building located?
The property is located at 4645 HILLSIDE ROAD SE Washington, DC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Six residential units, each with 2 bedrooms and 1 full bathroom; 3,780 square feet in total; 12 bedrooms across the property
