Historic Condo Apartment
323 Maryland Avenue NE Washington, DC 20002
For Sale
$1,995,000
Nearly 4,500 sq. ft. residential building with six individually titled units in Washington, DC’s Capitol Hill Historic District.
Property Size4,420 SF
Price / SF$451.36
Days on Market123
Property Features for 323 Maryland Avenue NE
General Information
Standard status
Active
Size
4,420 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Brent E Jackson
Source:
Deepcreeklake
Added: Mar 30
Changed: Jul 10
Last Checked: Jul 29 at 4:57PM
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.
323 Maryland Avenue NE is a three-story masonry residential building with a basement, constructed of red pressed brick and originally built circa 1900. The property contains six separately titled condominium units, including four one-bedroom residences and two studio apartments, creating a flexible mix for residents or future tenant rollovers. Exterior preservation guidelines apply as a contributing structure within the Capitol Hill Historic District, while the structure remains positioned for thoughtful interior updates.
The building is located in the heart of Capitol Hill, just moments from the U.S. Capitol, Supreme Court, and House and Senate Office Buildings. Access to regional and daily transportation is supported by the property’s proximity to Union Station and nearby Metro, along with shopping and dining options.
This offering is best suited for buyers seeking a small-scale, multi-unit residential asset with multiple condo titles within a landmark district. The combination of historic exterior features, a basement level, and an apartment mix that includes both studios and one-bedroom units can support a practical operating strategy for a range of household types.
The building is located in the heart of Capitol Hill, just moments from the U.S. Capitol, Supreme Court, and House and Senate Office Buildings. Access to regional and daily transportation is supported by the property’s proximity to Union Station and nearby Metro, along with shopping and dining options.
This offering is best suited for buyers seeking a small-scale, multi-unit residential asset with multiple condo titles within a landmark district. The combination of historic exterior features, a basement level, and an apartment mix that includes both studios and one-bedroom units can support a practical operating strategy for a range of household types.
Key Highlights
- Nearly 4,500 sq. ft. residential building with six separately titled condominium units
- Unit mix: four 1‑bedroom residences and two studio apartments
- Contributing structure in Washington, DC’s Capitol Hill Historic District with exterior preserved per historic guidelines
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.9k | $33.00 |
| − Vacancy | −$9.0k | −$2.05 |
| EGI | $136.8k | $30.95 |
| − OpEx | −$61.6k | −$13.93 |
| NOI | $75.2k | $17.02 |
4,420 SF · lease $33.00/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$940.6K – $1.25M
NOI $75,249 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,744 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Nearly 4,500 sq. ft. residential building with six individually titled units in Washington, DC’s Capitol Hill Historic District.
Where is this apartment building located?
The property is located at 323 Maryland Avenue NE Washington, DC.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Nearly 4,500 sq. ft. residential building with six separately titled condominium units; Unit mix: four 1‑bedroom residences and two studio apartments; Contributing structure in Washington, DC’s Capitol Hill Historic District with exterior preserved per historic guidelines
