Residential Income Property with
For Sale
$350,000
1357 NICHOLSON STREET NW Unit 2, Washington, DC 20011
The remodeled residence offers an open kitchen and living area, two full bathrooms, and private outdoor space.
Property Size696 SF
Price / SF$502.87
Days on Market24
Property Features for 1357 NICHOLSON STREET NW Unit 2
General Information
Standard status
Active
Size
696 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Northwest
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,418
Amenities
private patios
in-unit laundry
Building Details
Building Size
696 SF
Year Built
1936
Year Renovated
2020
Listing Agency:
Century 21 Redwood Realty
Listed By:
Brittany Lambrechts Camacho · License #SP98369146
(703) 599-2748
Source:
Exqrealestate
Added: Oct 6
Changed: Oct 27
Last Checked: Oct 26 at 3:18PM
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 Redwood Realty
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Investment Insights
Based on property information with market context.
This 696-square-foot residential income property is a two-bedroom, two-bathroom condominium with an open kitchen and living area. The kitchen features quartz counters, stainless steel appliances, white cabinetry, and a center island. Wide-plank LVP flooring runs through the home, and the primary bedroom has an en-suite bathroom and direct access to a rear patio. A second full bathroom, in-unit laundry closet, and two private patios round out the layout. The building and residence were remodeled in 2020; the building dates to 1936.
The property is in Washington, DC, near shopping, restaurants, cafes, and grocery stores along Georgia Avenue, Upshur Street, and 14th Street. Rock Creek Park, recreation facilities, trails, golf, and tennis are also nearby. Metro stations and Metrobus routes provide connections across Northwest DC and beyond.
The property is in Washington, DC, near shopping, restaurants, cafes, and grocery stores along Georgia Avenue, Upshur Street, and 14th Street. Rock Creek Park, recreation facilities, trails, golf, and tennis are also nearby. Metro stations and Metrobus routes provide connections across Northwest DC and beyond.
Key Highlights
- 696‑square‑foot, two‑bedroom condominium with two full bathrooms
- Two private patios, including an enclosed rear outdoor area
- Building and residence remodeled in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,078
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,560
$221.6K
Cap Rate 7%
$158,257
$158.3K
Cap Rate 9%
$123,089
$123.1K
Market Conditions
NOI Build-Up for 696 SF
Gross rent
$21.4K $30.72/SF
− Vacancy
−$1.2K −$1.78/SF
EGI
$20.1K $28.94/SF
− OpEx
−$9.1K −$13.02/SF
NOI
$11.1K $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 Rate 5%
$221,560
Cap Rate 7%
$158,257
Cap Rate 9%
$123,089
Alternative Uses
Best Use
Apartment 5plus
$158.3K
$138.5K – $184.6K
NOI $11,078 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.3K
$314.4K – $419.2K
NOI $25,154 @ 7.0% cap · market cap 7.19%
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
1,401
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The remodeled residence offers an open kitchen and living area, two full bathrooms, and private outdoor space.
Where is this residential income property located?
The property is located at 1357 NICHOLSON STREET NW Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 696‑square‑foot, two‑bedroom condominium with two full bathrooms; Two private patios, including an enclosed rear outdoor area; Building and residence remodeled in 2020
