Residential Income Property with
For Sale
$299,000
1101 3RD STREET SW Unit 701, Washington, DC 20024
A one-bedroom condo includes separately deeded storage and access to building amenities, including a fitness center and front desk concierge.
Property Size683 SF
Price / SF$437.77
Days on Market220
Property Features for 1101 3RD STREET SW Unit 701
General Information
Standard status
Active
Size
683 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Southwest
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,926
Amenities
front desk concierge
community room with Wi Fi
fitness center
bike storage
laundry facilities
resident garden
patio
grilling area
Building Details
Building Size
683 SF
Year Built
1960
Listing Agency:
Compass
Listed By:
Katherine Hunter · License #CI2023845
(703) 347-5126
Source:
Kartaproperties
Added: Mar 25
Changed: Oct 26
Last Checked: Oct 26 at 3:01PM
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
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Investment Insights
Based on property information with market context.
This 683-square-foot, one-bedroom condo is in a building completed in 1960. The unit has a full bath, a walk-in closet, built-in storage, and a separately deeded storage unit. An in-unit washer and dryer may be installed. Parking behind the building is available for purchase.
The gated property includes a garden, patio, and grilling area. Building amenities include a front desk concierge, community room with Wi-Fi, fitness center, bike storage, and laundry facilities. Safeway and the Waterfront Metro are across the street; the Wharf, Nationals Park, Navy Yard, and restaurants are within walking distance.
The gated property includes a garden, patio, and grilling area. Building amenities include a front desk concierge, community room with Wi-Fi, fitness center, bike storage, and laundry facilities. Safeway and the Waterfront Metro are across the street; the Wharf, Nationals Park, Navy Yard, and restaurants are within walking distance.
Key Highlights
- 683‑square‑foot, one‑bedroom condo
- Separately deeded storage unit, walk‑in closet, built‑ins, and large hallway closet
- Parking behind the building is available for purchase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,348
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$226,960
$227.0K
Cap Rate 7%
$162,114
$162.1K
Cap Rate 9%
$126,089
$126.1K
Market Conditions
NOI Build-Up for 683 SF
Gross rent
$21.7K $31.80/SF
− Vacancy
−$1.1K −$1.59/SF
EGI
$20.6K $30.21/SF
− OpEx
−$9.3K −$13.59/SF
NOI
$11.3K $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%
$226,960
Cap Rate 7%
$162,114
Cap Rate 9%
$126,089
Alternative Uses
Best Use
Apartment 5plus
$162.1K
$141.9K – $189.1K
NOI $11,348 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$351.3K
$307.4K – $409.9K
NOI $24,592 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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 one-bedroom condo includes separately deeded storage and access to building amenities, including a fitness center and front desk concierge.
Where is this residential income property located?
The property is located at 1101 3RD STREET SW Unit 701 Washington, DC.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 683‑square‑foot, one‑bedroom condo; Separately deeded storage unit, walk‑in closet, built‑ins, and large hallway closet; Parking behind the building is available for purchase
