Penthouse Residential Income
For Sale
$1,150,000
1923 12TH STREET NW Unit 3, Washington, DC 20009
Bright two-bedroom residence with a private rooftop deck, dedicated parking, and detailed interior finishes.
Property Size1,710 SF
Days on Market27
Property Features for 1923 12TH STREET NW Unit 3
General Information
Standard status
Active
Size
1,710 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,887
Amenities
private rooftop deck
dedicated parking
gas fireplace
full-size washer and dryer
Building Details
Building Size
1,710 SF
Year Built
1906
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Mattia D'Affuso · License #SP200200245
(240) 464-5626
Source:
Barnesrealestatecompany
Added: Aug 19
Changed: Sep 13
Last Checked: Sep 14 at 9:57AM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located at 1923 12TH STREET NW Unit: 3 in Washington, DC, this penthouse occupies the upper level of a three-unit building constructed in 1906. The residence offers more than 1,700 square feet with two bedrooms, two-and-a-half baths, a powder room, and a defined living and dining arrangement. Skylights, high ceilings, western-facing windows, and bamboo flooring contribute to the interior character, while a gas fireplace provides a focal point in the living room.
The kitchen includes Carrara marble counters, cherry cabinetry, stainless steel appliances, a tiled backsplash, and a center island with seating. A nearby bar incorporates a wine refrigerator and glass-front storage. The primary suite has a walk-in closet and a bath with dual vanities and a double shower; the second bedroom also includes a walk-in closet. Additional features include a full-size washer and dryer, dedicated parking, and a private rooftop deck with treetop and city views. The property is near the U Street Corridor, 14th Street, Whole Foods, Trader Joe’s, the Lincoln Theatre, neighborhood dining, and the Metro.
The kitchen includes Carrara marble counters, cherry cabinetry, stainless steel appliances, a tiled backsplash, and a center island with seating. A nearby bar incorporates a wine refrigerator and glass-front storage. The primary suite has a walk-in closet and a bath with dual vanities and a double shower; the second bedroom also includes a walk-in closet. Additional features include a full-size washer and dryer, dedicated parking, and a private rooftop deck with treetop and city views. The property is near the U Street Corridor, 14th Street, Whole Foods, Trader Joe’s, the Lincoln Theatre, neighborhood dining, and the Metro.
Key Highlights
- More than 1,700 square feet in a two‑bedroom, two‑and‑a‑half‑bath penthouse residence
- Private rooftop deck with treetop and city views
- Part of an intimate three‑unit building constructed in 1906
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
$33,276
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
2.89%
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%
$665,520
$665.5K
Cap Rate 7%
$475,371
$475.4K
Cap Rate 9%
$369,733
$369.7K
Market Conditions
NOI Build-Up for 1,710 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
$64.2K $37.56/SF
− Vacancy
−$3.7K −$2.18/SF
EGI
$60.5K $35.38/SF
− OpEx
−$27.2K −$15.92/SF
NOI
$33.3K $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 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%
$665,520
Cap Rate 7%
$475,371
Cap Rate 9%
$369,733
Alternative Uses
Best Use
Apartment 5plus
$475.4K
$416.0K – $554.6K
NOI $33,276 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$879.6K
$769.6K – $1.03M
NOI $61,570 @ 7.0% cap · market cap 5.35%
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
5,771
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 - Bright two-bedroom residence with a private rooftop deck, dedicated parking, and detailed interior finishes.
Where is this residential income property located?
The property is located at 1923 12TH STREET NW Unit 3 Washington, DC.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: More than 1,700 square feet in a two‑bedroom, two‑and‑a‑half‑bath penthouse residence; Private rooftop deck with treetop and city views; Part of an intimate three‑unit building constructed in 1906
