Renovated Four-Unit Building in
For Sale
$1,250,000
5615 1ST NW, Washington, DC 20011
Well-maintained, income-producing property in a desirable location.
Property Size3,430 SF
Days on Market175
Property Features for 5615 1ST NW
General Information
Standard status
Active
Size
3,430 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,850
Building Details
Building Size
3,430 SF
Year Built
1935
Units
4
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Joseph B Okon · License #BR98371289
(240) 305-4918
Source:
Elliman
Added: Apr 15
Changed: Sep 27
Last Checked: Oct 5 at 6:34PM
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 CENTURY 21 New Millennium
Investment Insights
Based on property information with market context.
This well-maintained and recently renovated four-unit building is located in the desirable Northwest area. Each unit features an efficient layout of approximately 850 square feet. The property benefits from three off-street parking spaces. All units are on a month-to-month lease. The property is located in an area with a bike score of 72, indicating it is very bikeable, a walk score of 83, indicating it is very walkable, and a transit score of 67, indicating good transit options. This asset presents an opportunity to acquire a stabilized, income-producing property with minimal deferred maintenance and long-term upside in one of DC’s most resilient rental markets.
Key Highlights
- Stabilized, income‑producing four‑unit building.
- Located in a desirable Northwest location with strong tenant demand.
- Recently renovated with minimal deferred maintenance.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,456
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,229,120
$1.2M
Cap Rate 7%
$877,943
$877.9K
Cap Rate 9%
$682,844
$682.8K
Market Conditions
NOI Build-Up for 3,430 SF
Gross rent
$92.6K $27.00/SF
− Vacancy
−$4.8K −$1.40/SF
EGI
$87.8K $25.60/SF
− OpEx
−$26.3K −$7.68/SF
NOI
$61.5K $17.92/SF
Area
ZIP 20011
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 Rate 5%
$1,229,120
Cap Rate 7%
$877,943
Cap Rate 9%
$682,844
Alternative Uses
Best Use
Multifamily LT 5
$877.9K
$768.2K – $1.02M
NOI $61,456 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$779.9K
$682.4K – $909.9K
NOI $54,592 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $123,964 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
Explore this area
Business Placement
Demographics for 20011, DC
67,815
Population
29,658
Households
2.3
Avg Household Size
37
Median Age
55%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
12,558
Density / Sq Mi
$108,377
Median Household Income
$69,147
Median Earnings
$1,636
Median Rent
$722,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained, income-producing property in a desirable location.
Where is this quadplex located?
The property is located at 5615 1ST NW Washington, DC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Stabilized, income‑producing four‑unit building.; Located in a desirable Northwest location with strong tenant demand.; Recently renovated with minimal deferred maintenance.
