Four-Level Residential Income
New
For Sale
$400,000
1624 U STREET NW Unit 301, Washington, DC 20009
A vertically arranged residence combines distinct living areas with a private balcony.
Property Size650 SF
Price / SF$615.38
Days on Market7
Property Features for 1624 U STREET NW Unit 301
General Information
Standard status
Active
Size
650 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,129
Amenities
wood-burning fireplace
private balcony
washer/dryer
built-in closets
Building Details
Building Size
650 SF
Year Built
1893
Listing Agency:
Corcoran McEnearney
Listed By:
David Ochsman · License #SP98377918
(301) 442-2287
Source:
Kwcapitalproperties
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 5 at 11:32PM
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 Corcoran McEnearney
Investment Insights
Based on property information with market context.
This residence at 1624 U Street NW, Unit 301, spans approximately 650 square feet across four levels. The kitchen and dining area occupy the entry floor, with a living room and wood-burning fireplace above. A third level contains an updated bathroom, a washer and dryer closet, and access to a private balcony. The uppermost floor is configured as a bedroom with built-in closets and additional storage. Open staircases connect the floors. The property was built in 1893 and is described as a converted historic firehouse in Dupont Circle.
Key Highlights
- Four‑level residence with approximately 650 square feet
- Wood‑burning fireplace in the living room
- Private balcony accessed from the bathroom level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,649
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,980
$253.0K
Cap Rate 7%
$180,700
$180.7K
Cap Rate 9%
$140,544
$140.5K
Market Conditions
NOI Build-Up for 650 SF
Gross rent
$24.4K $37.56/SF
− Vacancy
−$1.4K −$2.18/SF
EGI
$23.0K $35.38/SF
− OpEx
−$10.3K −$15.92/SF
NOI
$12.6K $19.46/SF
Area
ZIP 20009
Vacancy
5.80%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,980
Cap Rate 7%
$180,700
Cap Rate 9%
$140,544
Alternative Uses
Best Use
Apartment 5plus
$180.7K
$158.1K – $210.8K
NOI $12,649 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$334.3K
$292.6K – $390.1K
NOI $23,404 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A vertically arranged residence combines distinct living areas with a private balcony.
Where is this residential income property located?
The property is located at 1624 U STREET NW Unit 301 Washington, DC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four‑level residence with approximately 650 square feet; Wood‑burning fireplace in the living room; Private balcony accessed from the bathroom level
