Corner Residential Income
For Sale
$279,999
1101 3RD STREET SW Unit 503, Washington, DC 20024
One-bedroom unit with floor-to-ceiling windows, an open layout, and dedicated basement storage.
Property Size528 SF
Days on Market284
Property Features for 1101 3RD STREET SW Unit 503
General Information
Standard status
Active
Size
528 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,285
Amenities
fitness center
party room
private outdoor courtyard
additional storage unit
Building Details
Building Size
528 SF
Year Built
1960
Listing Agency:
EXP Realty, LLC
Listed By:
Jonathan S Lahey · License #SP98369515
(301) 281-6981
Source:
Kwcapitalproperties
Added: Jan 8
Changed: Oct 8
Last Checked: Oct 16 at 3:56PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This 1-bedroom, 1-bathroom corner unit offers an open interior arrangement with floor-to-ceiling windows and city views. The kitchen includes wood cabinetry, Silestone countertops, black stainless-steel gas appliances, and a built-in washer and dryer. A separate storage unit is located on the basement level. Built in 1960, the building permits pets subject to restrictions and includes a fitness center, party room, and private outdoor courtyard.
The property is within walking distance of the SW Waterfront Metro Station, Safeway, and CVS. The National Mall and Historic Wharf are a few blocks away, with access to dining, music venues, retail, Arena Stage, Nationals Park, and Audi Field.
The property is within walking distance of the SW Waterfront Metro Station, Safeway, and CVS. The National Mall and Historic Wharf are a few blocks away, with access to dining, music venues, retail, Arena Stage, Nationals Park, and Audi Field.
Key Highlights
- 1‑bedroom, 1‑bathroom corner unit with floor‑to‑ceiling windows
- Open layout with city views and abundant natural light
- Kitchen with Silestone countertops and black stainless‑steel gas appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,773
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,460
$175.5K
Cap Rate 7%
$125,329
$125.3K
Cap Rate 9%
$97,478
$97.5K
Market Conditions
NOI Build-Up for 528 SF
Gross rent
$16.8K $31.80/SF
− Vacancy
−$840 −$1.59/SF
EGI
$16.0K $30.21/SF
− OpEx
−$7.2K −$13.59/SF
NOI
$8.8K $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%
$175,460
Cap Rate 7%
$125,329
Cap Rate 9%
$97,478
Alternative Uses
Best Use
Apartment 5plus
$125.3K
$109.7K – $146.2K
NOI $8,773 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.6K
$237.6K – $316.9K
NOI $19,011 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,009
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom unit with floor-to-ceiling windows, an open layout, and dedicated basement storage.
Where is this residential income property located?
The property is located at 1101 3RD STREET SW Unit 503 Washington, DC.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: 1‑bedroom, 1‑bathroom corner unit with floor‑to‑ceiling windows; Open layout with city views and abundant natural light; Kitchen with Silestone countertops and black stainless‑steel gas appliances
