Renovated 4 Unit Apt - Investor or Owner 1500 Columbia Rd NW 4 Unit Apartment Building $2,250,000 ($562,500/Unit) 7.39% Cap Rate Washington, DC 20009

Marcus & Millichap is pleased to exclusively present a fully renovated four-unit apartment buildings located at 1500 Columbia Road NW (4 -3BR/2 BA) in the highly desirable Columbia Heights / Shaw submarket of Northwest Washington, D.C. The offering represents a rare opportunity to acquire a renovated multifamily asset with strong in-place cash flow, multiple exit strategies, and long-term appreciation upside in one of the District’s most resilient rental markets. There is also an option to purchase 543 Florida Avenue NW (4-2BR/1 BA) in the same submarket.
The portfolio consists of eight total units across two separately metered buildings, offering buyers flexibility to acquire individually or as a combined investment. Both assets have undergone substantial renovations, including modernized interiors and upgraded building systems, reducing near-term capital expenditure risk and providing immediate operational stability. From a financial standpoint, the properties deliver attractive going-in cap rates ranging from approximately 6.99% to 7.39%, with NOI of approximately $271,000 combined, and strong Debt Coverage Ratios (1.30x–1.38x). Shaw Duo offers strong in-place income, and market-supported rent growth in a low vacancy submarket. These four-unit buildings also present an exceptional opportunity for owner-occupants seeking to offset housing costs through rental income. FHA financing is available for qualified buyers, significantly expanding the buyer pool. In high-cost markets such as Washington, D.C., the 2026 FHA loan limit for a four-unit property is approximately $2.4 million, allowing buyers to acquire these assets with low down payment requirements while benefiting from market-rate rents.
With close proximity to Howard University, this opportunity is also well-suited for parents purchasing housing for a student while renting the remaining units to fellow students or young professionals. This strategy enables parents to convert housing expenses into a long-term investment, offset ownership costs through rental income, and retain a highly marketable asset upon graduation. The unit layouts, neighborhood amenities, and transit access align well with student and early-career renter demand, making this a compelling alternative to traditional student housing or condominium ownership.
Columbia Heights remains one of Washington, D.C.’s most transit-oriented, and demographically diverse submarkets. Anchored by the Columbia Heights Metro Station (Green/Yellow Lines) and the 14th Street NW commercial corridor, the neighborhood benefits from exceptional walkability, dense retail amenities, and proximity to major employment centers.