UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,074 sqft
Price per Sqft $171
MLS Listing ID DCDC2259262
Style Other
Abv Grd Liv Area 2,861
Year Built 1936
Available Date 2026-05-01
Annual Tax Amount $9,266
Tax Year 2024
Lot Size 2,436 Sqft
Acres 0.06
Property Sub-Type Other
Source BRIGHT
Property Description
4801 3rd St NW presents a rare opportunity to acquire a five‑unit asset at a price point that supports meaningful repositioning and long‑term appreciation. The property is currently operated under a group‑rental structure with one long‑term tenant, generating a combined monthly income of $8,084.
With three 3‑bedroom units and two 2‑bedroom units, the building is well‑positioned for an investor‑driven transition to the voucher program. Recent Rent Resonablenss rent estimator guidance for this ZIP code reflects $4,113 for 3BR units and $2,805 for 2BR units, providing a clear framework for income growth once an investor implements a structured lease‑up and compliance plan.
A fully stabilized rent roll at these program‑friendly levels would reflect an illustrative pro forma gross annual rent of approximately $185,712. After accounting for typical operating expenses in this asset class, investors often model an estimated stabilized NOI in the $115,000–$125,000 range, depending on final operating strategy, compliance execution, and program approvals. These figures are for illustrative underwriting purposes only and are not guarantees of future performance.
At an asking price of $699,000, investors acquire a 5‑unit building in one of DC's most resilient rental corridors at a basis that allows room for operational improvements, licensing cleanup, and strategic repositioning. This profile also aligns well with 1031 exchange objectives, offering a low entry basis, durable demand drivers, and a clear path to forced appreciation through improved operations rather than speculative redevelopment.
Many investors underwriting DC multifamily also evaluate potential tenant transition costs as part of their repositioning strategy. While every situation is unique and must comply with DC law, voluntary agreements and negotiated move‑outs are common tools that investors model. If capital is allocated toward tenant transition costs, the increased stabilized income potential may shorten the payback period once the building is fully stabilized. Actual outcomes depend on the investor's execution, the tenant's cooperation, and program approval.
Location
State DC
County Washington
Zoning RA-1
Rooms
Basement Improved
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling None
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility 2+ Access Exits
Garage N
Private Pool No
Building
Above Ground Finished SqFt 2861
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 3323//0021
Ownership Fee Simple
SqFt Source 4074
Acceptable Financing Cash, Conventional, Private, Bank Portfolio, Exchange
Listing Terms Cash, Conventional, Private, Bank Portfolio, Exchange
Financing Cash,Conventional,Private,Bank Portfolio,Exchange
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS