Residential Income Property with Private
For Sale
$440,000
1375 MARYLAND AVENUE NE Unit K, Washington, DC 20002
The unfinished condominium space has undergone foundation work and is ready for a buyer to plan its interior configuration.
Property Size750 SF
Price / SF$586.67
Days on Market68
Property Features for 1375 MARYLAND AVENUE NE Unit K
General Information
Standard status
Active
Size
750 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Ft. Washington
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,705
Amenities
mail room
gym
outdoor grill
hot tub
pool
Building Details
Building Size
750 SF
Year Built
1895
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Megan Thiel · License #0225205153
(202) 810-2155
Source:
Districtpropertygroup
Added: Aug 24
Changed: Oct 27
Last Checked: Oct 27 at 3:18AM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 750-square-foot condominium unit at Pierce Lofts is unfinished, with the interior taken down to the studs and foundation work completed. A private entrance opens directly at street level. The building dates to 1895, and the unit is being sold with Unit L.
Residents have access to a mail room, gym, outdoor grill, hot tub, and a 40,000-gallon black-bottom pool. The condominium fee covers gas, water, trash removal, seasonal pest abatement, light landscaping, and upkeep and access to the amenities.
Residents have access to a mail room, gym, outdoor grill, hot tub, and a 40,000-gallon black-bottom pool. The condominium fee covers gas, water, trash removal, seasonal pest abatement, light landscaping, and upkeep and access to the amenities.
Key Highlights
- 750‑square‑foot unfinished condominium unit
- Street‑level access through a private entrance
- Interior taken down to the studs; foundation work completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,769
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,380
$255.4K
Cap Rate 7%
$182,414
$182.4K
Cap Rate 9%
$141,878
$141.9K
Market Conditions
NOI Build-Up for 750 SF
Gross rent
$24.8K $33.00/SF
− Vacancy
−$1.5K −$2.05/SF
EGI
$23.2K $30.95/SF
− OpEx
−$10.4K −$13.93/SF
NOI
$12.8K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,380
Cap Rate 7%
$182,414
Cap Rate 9%
$141,878
Alternative Uses
Best Use
Apartment 5plus
$182.4K
$159.6K – $212.8K
NOI $12,769 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$387.2K
$338.8K – $451.8K
NOI $27,106 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,287
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The unfinished condominium space has undergone foundation work and is ready for a buyer to plan its interior configuration.
Where is this residential income property located?
The property is located at 1375 MARYLAND AVENUE NE Unit K Washington, DC.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 750‑square‑foot unfinished condominium unit; Street‑level access through a private entrance; Interior taken down to the studs; foundation work completed
