Reconstructed Two-Unit Duplex
For Sale
$1,299,000
1168 ABBEY PLACE NE, Washington, DC 20002
Two fully vacant residences feature luxury finishes, private outdoor space, and separately deeded secure parking.
Property Size2,039 SF
Days on Market12
Property Features for 1168 ABBEY PLACE NE
General Information
Standard status
Active
Size
2,039 SF
Total Parking Spaces
1
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,413
Amenities
roof deck
private balcony
in-unit washer/dryer
electric vehicle charging
Building Details
Building Size
2,039 SF
Year Built
1925
Year Renovated
2019
Buildings
1
Stories
4
Listing Agency:
Keller Williams Capital Properties
(202) 316-5575
Listed By:
Jordan D Stuart · License #SP600402
(202) 316-5575
Source:
Kwcapitalproperties
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 23 at 9:00AM
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 Keller Williams Capital Properties
Investment Insights
Based on property information with market context.
This fully reconstructed two-unit property was rebuilt in 2019 with new HVAC, electrical, and plumbing systems. Both residences are vacant and feature open-concept interiors, engineered oak hardwood floors, quartz countertops, large kitchen islands, stainless steel appliances with gas cooking, pot fillers, and wine storage. Marble bathrooms, in-unit full-sized washers and dryers, tankless water heaters, fresh paint, designer wallpaper, and reverse osmosis filtration complete the interiors.
The upper residence measures 995 SF with 2 BR and 2.5 BAs across the upper two levels, including a private balcony and rooftop deck with 360-degree city views. The lower residence measures 1,044 SF with 2 BR and 2.5 BAs across the main and lower levels, with private patios and outdoor access from each bedroom. A separately deeded secure parking space includes a roll-down garage door and electric Level 1 charger.
The property is located two blocks from the NoMa Metro and near the Union Market District, with dining destinations including El Presidente, St. Anselm, Pastis DC, and maman nearby.
The upper residence measures 995 SF with 2 BR and 2.5 BAs across the upper two levels, including a private balcony and rooftop deck with 360-degree city views. The lower residence measures 1,044 SF with 2 BR and 2.5 BAs across the main and lower levels, with private patios and outdoor access from each bedroom. A separately deeded secure parking space includes a roll-down garage door and electric Level 1 charger.
The property is located two blocks from the NoMa Metro and near the Union Market District, with dining destinations including El Presidente, St. Anselm, Pastis DC, and maman nearby.
Key Highlights
- Two‑unit building rebuilt in 2019 with new HVAC, electrical, and plumbing systems
- Both units delivered fully vacant with 4 BRs and 4 full BAs plus 2 half BAs
- Unit 2: 995 sf, 2 BR, 2.5 BAs, private balcony, and rooftop deck
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
$38,845
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
2.99%
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%
$776,900
$776.9K
Cap Rate 7%
$554,929
$554.9K
Cap Rate 9%
$431,611
$431.6K
Market Conditions
NOI Build-Up for 2,039 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
$58.7K $28.80/SF
− Vacancy
−$3.2K −$1.58/SF
EGI
$55.5K $27.22/SF
− OpEx
−$16.6K −$8.16/SF
NOI
$38.8K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$776,900
Cap Rate 7%
$554,929
Cap Rate 9%
$431,611
Alternative Uses
Best Use
Multifamily LT 5
$554.9K
$485.6K – $647.4K
NOI $38,845 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$495.9K
$433.9K – $578.6K
NOI $34,713 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$1.05M
$921.2K – $1.23M
NOI $73,692 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,998
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
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?
Duplex - Two fully vacant residences feature luxury finishes, private outdoor space, and separately deeded secure parking.
Where is this duplex located?
The property is located at 1168 ABBEY PLACE NE Washington, DC.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two‑unit building rebuilt in 2019 with new HVAC, electrical, and plumbing systems; Both units delivered fully vacant with 4 BRs and 4 full BAs plus 2 half BAs; Unit 2: 995 sf, 2 BR, 2.5 BAs, private balcony, and rooftop deck
