623 5th St NE,WASHINGTON, DC 20002
WASHINGTON, DC 20002
Description
Investor Alert! Rare opportunity to acquire a seven-unit apartment building in the heart of Capitol Hill, offering strong in-place income, low operating expenses, and compelling value-add potential. With a Net Operating Income of $195,650 and an approximately 7% cap rate, this well-maintained property presents an attractive investment opportunity in one of the city's most desirable and well-connected locations. Investors can benefit from immediate cash flow while retaining clear opportunities for future rent optimization and long-term growth. Every residence is fully equipped with an in-unit washer and dryer for added tenant convenience. The property offers a desirable mix of floor plans, including a detached two-level, approximately 1,500-square-foot carriage house that adds unique flexibility and additional upside to the portfolio. Private outdoor space is another standout feature, with every residence offering at least one private outdoor area and most featuring two private balconies-a highly sought-after amenity in an urban market. The property also includes one private driveway parking space, an added convenience in this prime Capitol Hill setting. Unit Breakdown: Unit 1: 2 bedrooms, 2 bathrooms, 2 private balconies, in-unit washer/dryer Unit 2: 2 bedrooms, 2 bathrooms, 2 private balconies, in-unit washer/dryer Unit 3: 2 bedrooms, 2 bathrooms, 2 private balconies, in-unit washer/dryer Unit 4: 2 bedrooms, 2 bathrooms, 1 private balcony, in-unit washer/dryer Unit 5: 1 bedroom, 1 bathroom, in-unit washer/dryer Unit 6: 1 bedroom, 1 bathroom, private covered porch, in-unit washer/dryer Unit 7 (Carriage House): 2 bedrooms, 2.5 bathrooms, two levels, private balcony, in-unit washer/dryer Ideally located minutes from Union Station, Metro, the H Street Corridor, Eastern Market, and the U.S. Capitol, the property provides convenient access to dining, shopping, parks, employment centers, and major transportation routes. The combination of a strong approximately 7% cap rate, impressive NOI, in-unit laundry, private outdoor living spaces, driveway parking, and a premier Capitol Hill location makes this an exceptional turn-key asset with compelling long-term investment potential. Photos may be virtually staged.
Details
| MLS # | DCDC2275946 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1912 |
| Days On Site | 47 |
| Listing Provided By | Keller Williams Realty | Greg S Schwartz |
Features
| SQ Feet | 7,825 |
|---|---|
| Units | 4 |
| Zoning | R4 |
| Acreage | 0.08 |
Interior
| Cooling | Other |
|---|---|
| Heating Yes / No | Yes |
| Heating | Other |
Exterior
| Construction Materials | Brick |
|---|---|
| Foundation Details | Other |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 15540 |
|---|
Area Information
| State | DC |
|---|---|
| County | WASHINGTON DC |
| City | WASHINGTON |
| Zip Code | 20002 |
| Area | WASHINGTON DC |
| Community Name | OLD CITY #1 |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHO |
| Elementary School | LUDLOW-TAYLOR |
| High School | EASTERN |
| Listing VS Median (in OLD CITY #1) | |
Price: $2,900,000 low | high Med: $499,900 sqft: 7,825 low | high Med: 755 $ / sqft: $371 low | high Med: $662 On site: 47 low | high Med: 69.5 | |
Market Activity 20002
Request a showing
Request a showing
Contact
Learn More About This Property
| State | DC |
|---|---|
| County | WASHINGTON DC |
| City | WASHINGTON |
| Zip Code | 20002 |
| Area | WASHINGTON DC |
| Community Name | OLD CITY #1 |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHO |
| Elementary School | LUDLOW-TAYLOR |
| High School | EASTERN |
| Listing VS Median (in OLD CITY #1) | |
Price: $2,900,000 low | high Med: $499,900 sqft: 7,825 low | high Med: 755 $ / sqft: $371 low | high Med: $662 On site: 47 low | high Med: 69.5 | |
 | $2,900,000623 5th St NeWashington, DC 20002 |