Two-Level Residential Income
For Sale
$1,145,000
1099 22ND STREET NW Unit 601, Washington, DC 20037
Fresh 2026 carpet and paint complement a full-service building with concierge, fitness center, and resident lounge.
Property Size2,129 SF
Days on Market218
Property Features for 1099 22ND STREET NW Unit 601
General Information
Standard status
Active
Size
2,129 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,359
Amenities
24-hour concierge
fitness center
resident lounge
Building Details
Building Size
2,129 SF
Year Built
1985
Listing Agency:
Century 21 Redwood Realty
(703) 399-4132
Listed By:
James S Talbert
(703) 399-4132
Source:
Barnesrealestatecompany
Added: Jan 16
Changed: Aug 21
Last Checked: Aug 21 at 11:22AM
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 Century 21 Redwood Realty
Investment Insights
Based on property information with market context.
Residence 601 is a two-level residential income property with three bedrooms and two and a half bathrooms. The interior includes an open connection between the kitchen, living area, and dining space, along with large windows and bedrooms designed as private retreats. New carpet and fresh paint were completed in 2026.
The West End Place building provides a 24-hour concierge, fitness center, and resident lounge. The property is located at 1099 22nd Street NW in Washington, DC, near Georgetown, Foggy Bottom, and Dupont Circle. Dining, shopping, and green spaces are described as being within walking distance.
The West End Place building provides a 24-hour concierge, fitness center, and resident lounge. The property is located at 1099 22nd Street NW in Washington, DC, near Georgetown, Foggy Bottom, and Dupont Circle. Dining, shopping, and green spaces are described as being within walking distance.
Key Highlights
- Three‑bedroom, two‑and‑a‑half‑bath residence arranged across two levels
- New carpet and fresh paint completed in 2026
- Open kitchen, living, and dining arrangement
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
$35,374
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
3.09%
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%
$707,480
$707.5K
Cap Rate 7%
$505,343
$505.3K
Cap Rate 9%
$393,044
$393.0K
Market Conditions
NOI Build-Up for 2,129 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
$67.7K $31.80/SF
− Vacancy
−$3.4K −$1.59/SF
EGI
$64.3K $30.21/SF
− OpEx
−$28.9K −$13.59/SF
NOI
$35.4K $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%
$707,480
Cap Rate 7%
$505,343
Cap Rate 9%
$393,044
Alternative Uses
Best Use
Apartment 5plus
$505.3K
$442.2K – $589.6K
NOI $35,374 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$958.2K – $1.28M
NOI $76,656 @ 7.0% cap · market cap 6.69%
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
21,751
Businesses Nearby
Explore this area
Business Placement
Demographics for 20037, DC
14,945
Population
8,828
Households
1.7
Avg Household Size
29
Median Age
90%
College-Educated
99%
High-School Grad
0.7 sq mi
ZIP Area
21,350
Density / Sq Mi
$98,917
Median Household Income
$69,480
Median Earnings
$2,420
Median Rent
$743,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Fresh 2026 carpet and paint complement a full-service building with concierge, fitness center, and resident lounge.
Where is this residential income property located?
The property is located at 1099 22ND STREET NW Unit 601 Washington, DC.
What is the asking price?
The asking price for this property is $1,145,000.
What are key features of this property?
This property features: Three‑bedroom, two‑and‑a‑half‑bath residence arranged across two levels; New carpet and fresh paint completed in 2026; Open kitchen, living, and dining arrangement
