Updated Residential Income
For Sale
$240,000
1101 3RD STREET SW Unit 310, Washington, DC 20024
A junior one-bedroom condominium features updated kitchen appliances, woodgrain flooring, and a walk-in closet.
Property Size525 SF
Days on Market9
Property Features for 1101 3RD STREET SW Unit 310
General Information
Standard status
Active
Size
525 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Southwest
Public Transit
Yes
Units
Unit Mix
junior one-bedroom
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,189
Amenities
walk-in closet
basement storage locker
pet-friendly
central air conditioning
24-hour concierge and security
fitness center
community room
laundry facilities
outdoor green space with grilling stations
Building Details
Building Size
525 SF
Year Built
1960
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Bridgette A Cline · License #SP96773
(202) 271-4196
Source:
Kwcapitalproperties
Added: Oct 23
Changed: Oct 27
Last Checked: Oct 30 at 7:30PM
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 New Millennium
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Investment Insights
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This junior one-bedroom condominium at 1101 3rd Street SW has a refreshed interior with tiger-eye woodgrain floors and a professionally painted finish. The kitchen includes Samsung stainless steel appliances: a gas range with a built-in air fryer, microwave, dishwasher, and French-door refrigerator with an ice maker. A walk-in closet and separate basement storage locker provide additional storage. The building dates to 1960.
Building amenities include central air conditioning, a 24-hour concierge and security, a fitness center, community room, laundry facilities, and outdoor green space with grilling stations. The building is pet-friendly. Rental parking is available off-site. The condo fee covers water, gas, fitness center and community room access, lawn care, building security, snow removal, and trash pickup; owners pay for electricity, cable, and internet.
The property is in Southwest Washington, near The Wharf, The Anthem, Arena Stage, Nationals Park, and Audi Field. Navy Yard, Safeway, Harris Teeter, Whole Foods, and Starbucks are within walking distance, as are the Waterfront, Federal Center SW, and L'Enfant Plaza Metro stations.
Building amenities include central air conditioning, a 24-hour concierge and security, a fitness center, community room, laundry facilities, and outdoor green space with grilling stations. The building is pet-friendly. Rental parking is available off-site. The condo fee covers water, gas, fitness center and community room access, lawn care, building security, snow removal, and trash pickup; owners pay for electricity, cable, and internet.
The property is in Southwest Washington, near The Wharf, The Anthem, Arena Stage, Nationals Park, and Audi Field. Navy Yard, Safeway, Harris Teeter, Whole Foods, and Starbucks are within walking distance, as are the Waterfront, Federal Center SW, and L'Enfant Plaza Metro stations.
Key Highlights
- Junior one‑bedroom condominium with a separate basement storage locker
- Samsung stainless steel kitchen appliances, including a gas range with built‑in air fryer
- Tiger‑eye woodgrain floors and professionally painted interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,723
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$174,460
$174.5K
Cap Rate 7%
$124,614
$124.6K
Cap Rate 9%
$96,922
$96.9K
Market Conditions
NOI Build-Up for 525 SF
Gross rent
$16.7K $31.80/SF
− Vacancy
−$835 −$1.59/SF
EGI
$15.9K $30.21/SF
− OpEx
−$7.1K −$13.59/SF
NOI
$8.7K $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 Rate 5%
$174,460
Cap Rate 7%
$124,614
Cap Rate 9%
$96,922
Alternative Uses
Best Use
Apartment 5plus
$124.6K
$109.0K – $145.4K
NOI $8,723 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$270.0K
$236.3K – $315.1K
NOI $18,903 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,009
Businesses Nearby
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Business Placement
Demographics for 20024, DC
15,952
Population
11,560
Households
1.4
Avg Household Size
37
Median Age
70%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
7,251
Density / Sq Mi
$102,623
Median Household Income
$94,419
Median Earnings
$2,121
Median Rent
$497,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A junior one-bedroom condominium features updated kitchen appliances, woodgrain flooring, and a walk-in closet.
Where is this residential income property located?
The property is located at 1101 3RD STREET SW Unit 310 Washington, DC.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Junior one‑bedroom condominium with a separate basement storage locker; Samsung stainless steel kitchen appliances, including a gas range with built‑in air fryer; Tiger‑eye woodgrain floors and professionally painted interior
