Renovated Four-Unit Residential
For Sale
$1,250,000
5615 1ST Place NW, Washington, DC 20011
Recently renovated four-unit property with efficient layouts and three off-street parking spaces.
Property Size3,430 SF
Price / SF$364.43
Days on Market247
Property Features for 5615 1ST Place NW
General Information
Standard status
Active
Size
3,430 SF
Total Parking Spaces
3
Property subtype
Multi-family
Lease Term
[]
Site & Location
Neighborhood
Manor Park
Additional Details
Multifamily Units
4
Building Details
Year Built
1935
Tenancy
Multi
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Joseph B Okon · License #BR98371289
(240) 305-4918
Source:
Deepcreeklake
Added: Feb 24
Changed: Oct 28
Last Checked: Oct 28 at 8:58AM
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
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Investment Insights
Based on property information with market context.
A well-maintained, recently renovated four-unit residential building offering efficient layouts. Each unit is approximately 850 square feet, and the property includes three off-street parking spaces.
All four units are currently leased on month-to-month terms. Tenants do not have TOPA rights, and the process of notifying tenants is underway.
The offering is for sale and presented as a stabilized, income-producing asset with minimal deferred maintenance based on the seller’s statements. Call the listing agent for additional details and documents.
All four units are currently leased on month-to-month terms. Tenants do not have TOPA rights, and the process of notifying tenants is underway.
The offering is for sale and presented as a stabilized, income-producing asset with minimal deferred maintenance based on the seller’s statements. Call the listing agent for additional details and documents.
Key Highlights
- Four‑unit building built in 1935 with recently renovated units
- Approx. 850 SF per unit with efficient layouts
- Three off‑street parking spaces—an uncommon feature for the area
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.
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Who owns this building?
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Recently renovated four-unit property with efficient layouts and three off-street parking spaces.
Where is this quadplex located?
The property is located at 5615 1ST Place 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: Four‑unit building built in 1935 with recently renovated units; Approx. 850 SF per unit with efficient layouts; Three off‑street parking spaces—an uncommon feature for the area
