Four-Unit Residential Income
For Sale
$1,250,000
5615 1ST Place NW, Washington, DC 20011
MULTI_FAMILY - Colonial - WASHINGTON, DC
Property Size3,430 SF
Price / SF$364.43
Days on Market138
Property Features for 5615 1ST Place NW
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
Assigned, Alley
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
3,430 SF
Taxes and HOA fees
Tax Annual Amount
12850
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1935
Number of units
4
Building materials
Brick
Architectural style
Colonial
Listing Agency:
CENTURY 21 New Millennium · Century 21 Real Estate
(703) 556-4222
Listed By:
Joseph B Okon · License #BR98371289
(240) 305-4918
Added: Mar 29
Changed: Aug 5
Last Checked: Aug 13 at 3:06AM
MLS# DCDC2252102
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained and recently renovated four-unit residential building. Each unit features efficient layouts of approximately 850 square feet. The property includes three off-street parking spaces.
All units are on month-to-month leases. Tenants do not have TOPA rights, and tenants are in the process of being notified. Please call the listing agent for details and available documents.
This is a four-unit income property in Northwest Washington, DC, positioned for stable occupancy with no deferred maintenance details noted in the remarks.
All units are on month-to-month leases. Tenants do not have TOPA rights, and tenants are in the process of being notified. Please call the listing agent for details and available documents.
This is a four-unit income property in Northwest Washington, DC, positioned for stable occupancy with no deferred maintenance details noted in the remarks.
Key Highlights
- Well‑maintained, recently renovated 4‑unit building with brick construction
- Each unit offers an efficient layout of approximately 850 SF
- Central heating and central air conditioning
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
$61,456
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
4.92%
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%
$1,229,120
$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
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
$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 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%
$1,229,120
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
Property Profile
Current Use
Lease Details
4
Residential units
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four well-maintained units with month-to-month leases 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: Well‑maintained, recently renovated 4‑unit building with brick construction; Each unit offers an efficient layout of approximately 850 SF; Central heating and central air conditioning
