Residential Income Property with Rooftop
For Sale
$774,900
1516 LEVIS STREET NE Unit 2, Washington, DC 20002
Four-level condominium residence with private outdoor areas, dedicated parking, and custom interior finishes.
Property Size2,500 SF
Days on Market11
Property Features for 1516 LEVIS STREET NE Unit 2
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$6,500
Building Details
Building Size
2,500 SF
Year Built
2025
Listing Agency:
Samson Properties
Listed By:
Abdulhaluk Ensari · License #sp98368716
(202) 365-8594
Source:
Kwcapitalproperties
Added: Sep 4
Changed: Sep 10
Last Checked: Sep 14 at 9:20AM
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 Samson Properties
Investment Insights
Based on property information with market context.
Unit 2 occupies four levels within an intimate two-unit condominium building and provides approximately 2,500 square feet of living space. The home includes four bedrooms, four private bedroom suites upstairs, a main-level bedroom or office, multiple baths, a formal dining room, and a living area with two inset fireplaces. Wide-plank hardwood flooring, high ceilings, black-framed windows, floor-to-ceiling glass, and two balconies complement the interior. The kitchen is equipped with a waterfall quartz island, custom 42-inch cabinetry, induction cooking, a wall oven, under-mount lighting, and a Wi-Fi-connected Samsung refrigerator.
Outdoor space includes a 1,200-square-foot private rooftop deck accessed through a motorized glass hatch with integrated lighting and rough-ins for an outdoor kitchen. The property also includes secure dedicated parking and a full fire sprinkler system. The monthly condominium fee covers water, sewer, insurance, and reserves.
Outdoor space includes a 1,200-square-foot private rooftop deck accessed through a motorized glass hatch with integrated lighting and rough-ins for an outdoor kitchen. The property also includes secure dedicated parking and a full fire sprinkler system. The monthly condominium fee covers water, sewer, insurance, and reserves.
Key Highlights
- Approximately 2,500 square feet across four levels
- Private 1,200‑square‑foot rooftop deck with outdoor‑kitchen rough‑ins
- Four bedrooms, including three upper‑level bedroom suites
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
$42,562
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
5.49%
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%
$851,240
$851.2K
Cap Rate 7%
$608,029
$608.0K
Cap Rate 9%
$472,911
$472.9K
Market Conditions
NOI Build-Up for 2,500 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
$82.5K $33.00/SF
− Vacancy
−$5.1K −$2.05/SF
EGI
$77.4K $30.95/SF
− OpEx
−$34.8K −$13.93/SF
NOI
$42.6K $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 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%
$851,240
Cap Rate 7%
$608,029
Cap Rate 9%
$472,911
Alternative Uses
Best Use
Apartment 5plus
$608.0K
$532.0K – $709.4K
NOI $42,562 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,353 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,604
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Four-level condominium residence with private outdoor areas, dedicated parking, and custom interior finishes.
Where is this residential income property located?
The property is located at 1516 LEVIS STREET NE Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: Approximately 2,500 square feet across four levels; Private 1,200‑square‑foot rooftop deck with outdoor‑kitchen rough‑ins; Four bedrooms, including three upper‑level bedroom suites
