Eight-Unit Apartment
New
For Sale
$2,996,825
1013 17TH PLACE NE, Washington, DC 20002
Contemporary residences feature two-bedroom layouts, two full bathrooms, private or semi-private outdoor space, and in-unit laundry.
Property Size6,800 SF
Price / SF$458.02
Days on Market4
Property Features for 1013 17TH PLACE NE
General Information
Standard status
Active
Size
6,800 SF
Property subtype
Five Or More Units
Units
Unit Mix
8 x 2BR/2BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$6,315
Amenities
rooftop terrace
communal green space
Building Details
Building Size
6,800 SF
Year Built
2022
Buildings
1
Listing Agency:
The Agency DC
Listed By:
Alejandro Luis A Martinez · License #BR98379367
(240) 258-2668
Source:
Barnesrealestatecompany
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 13 at 9:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Agency DC
Investment Insights
Based on property information with market context.
Built in 2022, this apartment building contains 8 separately identified residences totaling approximately 6,543 square feet of residential living space. Each residence is configured with two bedrooms and two full bathrooms, plus private or semi-private outdoor space. Interior finishes include wide-plank white oak flooring, expansive windows, quartz countertops, white shaker cabinetry, subway tile backsplashes, black hardware, gas cooking, stainless steel appliances, and an in-unit washer and dryer.
A full-length rooftop terrace provides 360-degree views of the Washington, DC skyline, with a direct sightline to the Washington Monument. The property also includes a rear communal green space designed for gathering, grilling, and recreation. The building is located at 1013 17th Place NE in Washington, DC, near the H Street Corridor, Union Market, and Ivy City.
A full-length rooftop terrace provides 360-degree views of the Washington, DC skyline, with a direct sightline to the Washington Monument. The property also includes a rear communal green space designed for gathering, grilling, and recreation. The building is located at 1013 17th Place NE in Washington, DC, near the H Street Corridor, Union Market, and Ivy City.
Key Highlights
- 8 residences totaling approximately 6,543 square feet
- Built in 2022 with two‑bedroom, two‑bathroom residences
- Full‑length rooftop terrace with 360‑degree skyline views
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
$111,393
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
3.72%
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%
$2,227,860
$2.2M
Cap Rate 7%
$1,591,329
$1.6M
Cap Rate 9%
$1,237,700
$1.2M
Market Conditions
NOI Build-Up for 6,543 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
$215.9K $33.00/SF
− Vacancy
−$13.4K −$2.05/SF
EGI
$202.5K $30.95/SF
− OpEx
−$91.1K −$13.93/SF
NOI
$111.4K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,227,860
Cap Rate 7%
$1,591,329
Cap Rate 9%
$1,237,700
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.86M
NOI $111,393 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.38M
$2.96M – $3.94M
NOI $236,471 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,381
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Contemporary residences feature two-bedroom layouts, two full bathrooms, private or semi-private outdoor space, and in-unit laundry.
Where is this apartment building located?
The property is located at 1013 17TH PLACE NE Washington, DC.
What is the asking price?
The asking price for this property is $2,996,825.
What are key features of this property?
This property features: 8 residences totaling approximately 6,543 square feet; Built in 2022 with two‑bedroom, two‑bathroom residences; Full‑length rooftop terrace with 360‑degree skyline views
