Renovated Residential Income
For Sale
$350,000
1632 K STREET NE Unit 3, Washington, DC 20002
Updated condo unit with two private outdoor spaces, gas cooking, and access to multiple transportation options.
Property Size755 SF
Days on Market29
Property Features for 1632 K STREET NE Unit 3
General Information
Standard status
Active
Size
755 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,708
Amenities
private outdoor spaces
gas cooking
Building Details
Building Size
755 SF
Year Built
1941
Year Renovated
2019
Listing Agency:
EXP Realty, LLC
Listed By:
Keri K. Shull · License #BR98376664
(703) 609-5183
Source:
Kwcapitalproperties
Added: Sep 8
Changed: Oct 3
Last Checked: Oct 6 at 12:03AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This residential income property is a condominium unit offering nearly 800 square feet of interior space along with two private outdoor areas. The layout includes a full-size kitchen with gas cooking and contemporary finishes. Renovation work was completed in 2019, and the property was built in 1941.
The property is located in Washington, DC, with nearby parking and multiple transportation options. Union Station is 2 miles away, while grocery stores, H Street dining and nightlife, Kingman and Heritage Islands, and the National Arboretum are also nearby. The location supports walking, biking, driving, and transit access throughout the surrounding area.
The property is located in Washington, DC, with nearby parking and multiple transportation options. Union Station is 2 miles away, while grocery stores, H Street dining and nightlife, Kingman and Heritage Islands, and the National Arboretum are also nearby. The location supports walking, biking, driving, and transit access throughout the surrounding area.
Key Highlights
- Nearly 800 square feet with two private outdoor spaces
- Full‑size kitchen with gas cooking
- Renovated in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,854
Cap Rate
3.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,080
$257.1K
Cap Rate 7%
$183,629
$183.6K
Cap Rate 9%
$142,822
$142.8K
Market Conditions
NOI Build-Up for 755 SF
Gross rent
$24.9K $33.00/SF
− Vacancy
−$1.5K −$2.05/SF
EGI
$23.4K $30.95/SF
− OpEx
−$10.5K −$13.93/SF
NOI
$12.9K $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%
$257,080
Cap Rate 7%
$183,629
Cap Rate 9%
$142,822
Alternative Uses
Best Use
Apartment 5plus
$183.6K
$160.7K – $214.2K
NOI $12,854 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$389.8K
$341.1K – $454.8K
NOI $27,287 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,381
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 - Updated condo unit with two private outdoor spaces, gas cooking, and access to multiple transportation options.
Where is this residential income property located?
The property is located at 1632 K STREET NE Unit 3 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: Nearly 800 square feet with two private outdoor spaces; Full‑size kitchen with gas cooking; Renovated in 2019
