Renovated Four-Unit Residential
5615 1ST Place NW Washington, DC 20011
For Sale
$1,250,000
Recently renovated four-unit property with efficient layouts and three off-street parking spaces.
Property Size3,430 SF
Price / SF$364.43
Days on Market131
Property Features for 5615 1ST Place NW
General Information
Standard status
Active
Size
3,430 SF
Property subtype
Multi-family
Building Details
Year Built
1935
Listing Agency:
CENTURY 21 New Millennium
(240) 305-4918
Listed By:
Joseph B Okon · License #BR98371289
Source:
Deepcreeklake
Added: Mar 22
Changed: Jul 25
Last Checked: Jul 29 at 4:53PM
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.
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $92.6k | $27.00 |
| − Vacancy | −$4.8k | −$1.40 |
| EGI | $87.8k | $25.60 |
| − OpEx | −$26.3k | −$7.68 |
| NOI | $61.5k | $17.92 |
3,430 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
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
Location Intelligence
Current Use
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
