Four-Unit Residential Income
For Sale
$995,000
928 19TH Street NE, Washington, DC 20002
MULTI_FAMILY - Other - WASHINGTON, DC
Property Size2,508 SF
Lot Size0.09 Acres
Price / SF$396.73
Days on Market92
Property Features for 928 19TH Street NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Dining Room
Parking
1
Parking features
Off Street
Interior features
Wood Floors, Kitchen - Efficiency, Floor Plan - Traditional, Combination Dining/Living
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
2,508 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
7424
Utilities
Heating system
Radiant
Building Details
Year built
1942
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Compass
(202) 386-6330
Listed By:
Jennifer S Smira · License #SP600505
(202) 280-2060
Added: May 14
Changed: Jul 23
Last Checked: Aug 13 at 4:06AM
MLS# DCDC2254308
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.
This fully occupied four-unit residential income property features well-proportioned one-bedroom, one-bath layouts in each unit. The building has been well maintained with updated interiors, functional layouts, and solid systems, including updated kitchens and baths. In addition to the existing residential setup, the site includes rear parking, an important convenience for an urban rental property.
The property is positioned on a prominent corner lot at 928 19th Street NE. It is located in Carver Langston and is described as having RA-2 zoning. The lot size is listed at 3,965 square feet.
Beyond current in-place income, the listing describes redevelopment potential under RA-2 zoning, including the possibility of creating a 7,000+ square foot boutique condominium or multifamily project. The remarks also note proximity to Ivy City, the H Street Corridor, and Union Market, along with convenient access to NoMa, Metro, and major commuter routes.
The property is positioned on a prominent corner lot at 928 19th Street NE. It is located in Carver Langston and is described as having RA-2 zoning. The lot size is listed at 3,965 square feet.
Beyond current in-place income, the listing describes redevelopment potential under RA-2 zoning, including the possibility of creating a 7,000+ square foot boutique condominium or multifamily project. The remarks also note proximity to Ivy City, the H Street Corridor, and Union Market, along with convenient access to NoMa, Metro, and major commuter routes.
Key Highlights
- Four‑unit brick building built in 1942, fully occupied at 928 19th St NE (Carver Langston).
- Each unit offers a 1‑bedroom, 1‑bath layout with wood floors and traditional floor plan design.
- Updated interiors include combination dining/living areas and efficiency‑style kitchens.
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
$47,780
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
4.80%
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%
$955,600
$955.6K
Cap Rate 7%
$682,571
$682.6K
Cap Rate 9%
$530,889
$530.9K
Market Conditions
NOI Build-Up for 2,508 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
$72.2K $28.80/SF
− Vacancy
−$4.0K −$1.58/SF
EGI
$68.3K $27.22/SF
− OpEx
−$20.5K −$8.16/SF
NOI
$47.8K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /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%
$955,600
Cap Rate 7%
$682,571
Cap Rate 9%
$530,889
Alternative Uses
Best Use
Multifamily LT 5
$682.6K
$597.3K – $796.3K
NOI $47,780 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$610.0K
$533.7K – $711.6K
NOI $42,698 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,642 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
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 - Fully occupied four-unit building with one-bedroom, one-bath units and rear parking on a corner lot.
Where is this quadplex located?
The property is located at 928 19TH Street NE Washington, DC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four‑unit brick building built in 1942, fully occupied at 928 19th St NE (Carver Langston).; Each unit offers a 1‑bedroom, 1‑bath layout with wood floors and traditional floor plan design.; Updated interiors include combination dining/living areas and efficiency‑style kitchens.
