Residential Income Unit with Private
For Sale
$925,000
1015 33RD STREET NW Unit 402, Washington, DC 20007
Open-concept unit with natural-light updates, stainless steel appliances, and a private balcony, plus front desk service.
Property Size1,605 SF
Days on Market137
Property Features for 1015 33RD STREET NW Unit 402
General Information
Standard status
Active
Size
1,605 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,909
Amenities
front desk service
additional storage
private balcony
on-site parking
Building Details
Building Size
1,605 SF
Year Built
1985
Listing Agency:
Compass
(202) 330-7808
Listed By:
Michael R Brennan · License #SP98361106
(202) 330-7808
Source:
Kwcapitalproperties
Added: Apr 15
Changed: Aug 20
Last Checked: Aug 26 at 2:54PM
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 Compass
Investment Insights
Based on property information with market context.
This residential income unit in the Flourmill offers an open-concept layout designed to capture natural light. Recent upgrades include light-toned flooring and newly installed sliding glass doors and windows. The kitchen is equipped with stainless steel appliances, and the unit provides generous storage. A private balcony provides outdoor space for everyday enjoyment.
The building is located at 1015 33rd Street NW and offers front desk service, additional storage, and guaranteed on-site rental parking. The home is steps from Georgetown Waterfront Park, with easy access to scenic outdoor space and the shopping and dining along M Street, along with views of the historic C&O Canal.
Built in 1985, this unit combines updated interior features with building amenities that support a convenient, low-friction living experience.
The building is located at 1015 33rd Street NW and offers front desk service, additional storage, and guaranteed on-site rental parking. The home is steps from Georgetown Waterfront Park, with easy access to scenic outdoor space and the shopping and dining along M Street, along with views of the historic C&O Canal.
Built in 1985, this unit combines updated interior features with building amenities that support a convenient, low-friction living experience.
Key Highlights
- Open‑concept layout with light‑toned flooring
- Newly installed sliding glass doors and windows for natural light
- Kitchen with stainless steel appliances
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
$26,668
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
2.88%
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%
$533,360
$533.4K
Cap Rate 7%
$380,971
$381.0K
Cap Rate 9%
$296,311
$296.3K
Market Conditions
NOI Build-Up for 1,605 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
$51.0K $31.80/SF
− Vacancy
−$2.6K −$1.59/SF
EGI
$48.5K $30.21/SF
− OpEx
−$21.8K −$13.59/SF
NOI
$26.7K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /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%
$533,360
Cap Rate 7%
$380,971
Cap Rate 9%
$296,311
Alternative Uses
Best Use
Apartment 5plus
$381.0K
$333.4K – $444.5K
NOI $26,668 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$825.6K
$722.4K – $963.2K
NOI $57,789 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,478
Businesses Nearby
Explore this area
Business Placement
Demographics for 20007, DC
26,827
Population
13,583
Households
2
Avg Household Size
35
Median Age
87%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
8,654
Density / Sq Mi
$142,783
Median Household Income
$93,107
Median Earnings
$2,066
Median Rent
$1,202,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-concept unit with natural-light updates, stainless steel appliances, and a private balcony, plus front desk service.
Where is this residential income property located?
The property is located at 1015 33RD STREET NW Unit 402 Washington, DC.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Open‑concept layout with light‑toned flooring; Newly installed sliding glass doors and windows for natural light; Kitchen with stainless steel appliances
