Renovated Four-Unit Apartment
For Sale
$580,000
501 32ND STREET SE, Washington, DC 20019
Four residences feature updated interiors and replacement building systems following a comprehensive rebuild.
Property Size2,336 SF
Price / SF$248.29
Days on Market16
Property Features for 501 32ND STREET SE
General Information
Standard status
Active
Size
2,336 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,939
Building Details
Building Size
2,336 SF
Year Built
1953
Buildings
1
Construction
masonry
Listing Agency:
Compass
Listed By:
Austen Rowland · License #SP200205782
(240) 305-5651
Source:
Kerishull
Added: Sep 22
Changed: Oct 6
Last Checked: Oct 6 at 12:03AM
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 Compass
Investment Insights
Based on property information with market context.
At 501 32nd Street SE, this 2,336-square-foot, four-unit building dates to 1953 and has undergone an extensive interior and systems overhaul. Work included new framing, joists, studs, and supports, while the original masonry exterior remains. The roof, HVAC systems, plumbing, electrical, and windows have also been replaced or updated. Inside, the units have hardwood floors, contemporary cabinetry, modern fixtures, and updated paint schemes.
The property is in Washington, DC, at 501 32nd Street SE. Its four-unit configuration and broad scope of completed building improvements define the offering.
The property is in Washington, DC, at 501 32nd Street SE. Its four-unit configuration and broad scope of completed building improvements define the offering.
Key Highlights
- Four‑unit multifamily property
- 2,336 square feet; built in 1953
- New framing, joists, studs, and supports; original masonry exterior retained
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,094
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$901,880
$901.9K
Cap Rate 7%
$644,200
$644.2K
Cap Rate 9%
$501,044
$501.0K
Market Conditions
NOI Build-Up for 2,336 SF
Gross rent
$68.7K $29.40/SF
− Vacancy
−$4.3K −$1.82/SF
EGI
$64.4K $27.58/SF
− OpEx
−$19.3K −$8.27/SF
NOI
$45.1K $19.30/SF
Area
ZIP 20019
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$901,880
Cap Rate 7%
$644,200
Cap Rate 9%
$501,044
Alternative Uses
Best Use
Multifamily LT 5
$644.2K
$563.7K – $751.6K
NOI $45,094 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$575.6K
$503.6K – $671.5K
NOI $40,289 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$1.26M
$1.10M – $1.46M
NOI $87,872 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
260
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residences feature updated interiors and replacement building systems following a comprehensive rebuild.
Where is this quadplex located?
The property is located at 501 32ND STREET SE Washington, DC.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 2,336 square feet; built in 1953; New framing, joists, studs, and supports; original masonry exterior retained
