12-Unit Apartment
For Sale
$4,200,000
2230 NICHOLSON STREET SE, Washington, DC 20020
New construction completed in 2023 near Anacostia Park with access to Navy Yard, Capitol Hill, and the U.S. Capitol.
Property Size10,328 SF
Price / SF$406.66
Days on Market58
Property Features for 2230 NICHOLSON STREET SE
General Information
Standard status
Active
Size
10,328 SF
Property subtype
Commercial
Additional Details
Multifamily Units
12
Building Details
Year Built
2023
Listing Agency:
Fathom Realty MD, LLC
(888) 455-6040
Listed By:
Dereje Feleke · License #5003997
(410) 209-9013
Source:
Cummingsrealtors
Added: Aug 19
Changed: Oct 15
Last Checked: Oct 14 at 11:22PM
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 Fathom Realty MD, LLC
Investment Insights
Based on property information with market context.
Completed in 2023, this 12-unit apartment building contains 10,328 square feet and is located at 2230 Nicholson Street SE in Washington, DC. The property is identified as an apartment building within the Anacostia neighborhood.
Anacostia Park and the Anacostia River are a few blocks away. The location also provides access to Navy Yard, Capitol Hill, and the U.S. Capitol, placing the building near several established Washington destinations.
Anacostia Park and the Anacostia River are a few blocks away. The location also provides access to Navy Yard, Capitol Hill, and the U.S. Capitol, placing the building near several established Washington destinations.
Key Highlights
- 12‑unit apartment building
- 10,328 square feet
- Constructed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,043
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,260,860
$3.3M
Cap Rate 7%
$2,329,186
$2.3M
Cap Rate 9%
$1,811,589
$1.8M
Market Conditions
NOI Build-Up for 10,328 SF
Gross rent
$316.0K $30.60/SF
− Vacancy
−$19.6K −$1.90/SF
EGI
$296.4K $28.70/SF
− OpEx
−$133.4K −$12.92/SF
NOI
$163.0K $15.79/SF
Area
ZIP 20020
Vacancy
6.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,260,860
Cap Rate 7%
$2,329,186
Cap Rate 9%
$1,811,589
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.04M – $2.72M
NOI $163,043 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.33M
$4.67M – $6.22M
NOI $373,265 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - New construction completed in 2023 near Anacostia Park with access to Navy Yard, Capitol Hill, and the U.S. Capitol.
Where is this apartment building located?
The property is located at 2230 NICHOLSON STREET SE Washington, DC.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 12‑unit apartment building; 10,328 square feet; Constructed in 2023
