Six-Unit Apartment
For Sale
$1,350,000
5601 COLORADO AVENUE NW, Washington, DC 20011
Well-maintained brick building with six one-bedroom units, in-building laundry, basement storage, and off-street parking.
Property Size5,560 SF
Price / SF$242.81
Days on Market76
Property Features for 5601 COLORADO AVENUE NW
General Information
Standard status
Active
Size
5,560 SF
Property subtype
Multi Family
Additional Details
Cap Rate
8.7%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$7,007
Building Details
Building Size
5,560 SF
Year Built
1936
Tenancy
Multi
Listing Agency:
CENTURY 21 New Millennium
(301) 200-1232
Listed By:
Alex Saenger · License #SP98371304
(301) 200-1232
Source:
Kerishull
Added: Jun 16
Changed: Aug 23
Last Checked: Aug 29 at 4:39PM
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
Investment Insights
Based on property information with market context.
Built in 1936, 5601 Colorado Avenue NW is a classic brick six-unit apartment building featuring six one-bedroom, one-bath homes. The units offer spacious floor plans and hardwood flooring, and updated kitchens are included in select apartments. The building includes on-site laundry facilities and basement storage, with off-street parking available for residents.
Located in the 16th Street Heights/Brightwood Park area of Northwest Washington, DC, the property provides convenient access to Rock Creek Park, 16th Street, public transportation, and neighborhood shopping and dining. It also sits within reach of major commuter routes throughout the District and surrounding metropolitan area.
Current operations include a mix of market-rate and voucher-assisted tenancy, which diversifies the resident profile. Based on current rents, the building generates approximately $148,164 in annual gross income, and after operating expenses of approximately $30,445 annually, it produces an estimated $117,719 Net Operating Income (NOI). The provided figures indicate an estimated 8.7% capitalization rate at the asking price of $1,350,000, based on 2025 full-year expenses.
Located in the 16th Street Heights/Brightwood Park area of Northwest Washington, DC, the property provides convenient access to Rock Creek Park, 16th Street, public transportation, and neighborhood shopping and dining. It also sits within reach of major commuter routes throughout the District and surrounding metropolitan area.
Current operations include a mix of market-rate and voucher-assisted tenancy, which diversifies the resident profile. Based on current rents, the building generates approximately $148,164 in annual gross income, and after operating expenses of approximately $30,445 annually, it produces an estimated $117,719 Net Operating Income (NOI). The provided figures indicate an estimated 8.7% capitalization rate at the asking price of $1,350,000, based on 2025 full-year expenses.
Key Highlights
- Built in 1936, six‑unit brick apartment building with six 1‑bedroom/1‑bath units
- Spacious 1‑bedroom floor plans with hardwood flooring; updated kitchens in select units
- On‑site laundry facilities plus basement storage for added resident and building utility
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
$88,493
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
6.56%
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%
$1,769,860
$1.8M
Cap Rate 7%
$1,264,186
$1.3M
Cap Rate 9%
$983,256
$983.3K
Market Conditions
NOI Build-Up for 5,560 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
$170.8K $30.72/SF
− Vacancy
−$9.9K −$1.78/SF
EGI
$160.9K $28.94/SF
− OpEx
−$72.4K −$13.02/SF
NOI
$88.5K $15.92/SF
Area
ZIP 20011
Vacancy
5.80%
Lease Rate
$30.72 /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%
$1,769,860
Cap Rate 7%
$1,264,186
Cap Rate 9%
$983,256
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.11M – $1.47M
NOI $88,493 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,945 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 20011, DC
67,815
Population
29,658
Households
2.3
Avg Household Size
37
Median Age
55%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
12,558
Density / Sq Mi
$108,377
Median Household Income
$69,147
Median Earnings
$1,636
Median Rent
$722,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained brick building with six one-bedroom units, in-building laundry, basement storage, and off-street parking.
Where is this apartment building located?
The property is located at 5601 COLORADO AVENUE NW Washington, DC.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Built in 1936, six‑unit brick apartment building with six 1‑bedroom/1‑bath units; Spacious 1‑bedroom floor plans with hardwood flooring; updated kitchens in select units; On‑site laundry facilities plus basement storage for added resident and building utility
