Residential Income Property with
New
For Sale
$599,000
3420 16TH STREET NW Unit 501, Washington, DC 20010
The one-bedroom residence includes parking, in-unit laundry and dedicated storage on the building’s lower level.
Property Size1,030 SF
Price / SF$581.55
Days on Market4
Property Features for 3420 16TH STREET NW Unit 501
General Information
Standard status
Active
Size
1,030 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,696
Amenities
bike storage
shared grounds
dog park
rooftop
in-unit washer/dryer
storage room
Building Details
Building Size
1,030 SF
Year Built
1918
Construction
brick
Listing Agency:
Compass
Listed By:
Amanda M Mills · License #SP98358932
(202) 425-6417
Source:
Kerishull
Added: Oct 15
Changed: Oct 16
Last Checked: Oct 16 at 2:22PM
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 Compass
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Investment Insights
Based on property information with market context.
This 1,030-square-foot condominium occupies the fifth floor of a 1918 brick mid-rise and offers one bedroom and one full bathroom. Ceilings rise more than 10 feet, with French doors, crown molding and wainscoting adding period detail. Hardwood flooring extends through the living room, kitchen and bedroom. The updated kitchen, dining area and shelving-lined nook provide distinct spaces, while a walk-in wardrobe sits off the bedroom. A washer and dryer are located in the unit, and a separate storage room is on the building’s lower level.
The residence comes with one parking space. Building amenities include an elevator, bike storage and shared grounds, with access to a dog park and rooftop space at the adjoining building. Cafes, shops and restaurants in Mount Pleasant are nearby, and Adams Morgan and Crestwood are also within reach. Public transit is accessible from the area.
The residence comes with one parking space. Building amenities include an elevator, bike storage and shared grounds, with access to a dog park and rooftop space at the adjoining building. Cafes, shops and restaurants in Mount Pleasant are nearby, and Adams Morgan and Crestwood are also within reach. Public transit is accessible from the area.
Key Highlights
- 1,030‑square‑foot, one‑bedroom condominium on the fifth floor
- 1918 brick mid‑rise with ceilings over 10 feet
- One parking space included with the residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,114
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,280
$342.3K
Cap Rate 7%
$244,486
$244.5K
Cap Rate 9%
$190,156
$190.2K
Market Conditions
NOI Build-Up for 1,030 SF
Gross rent
$32.8K $31.80/SF
− Vacancy
−$1.6K −$1.59/SF
EGI
$31.1K $30.21/SF
− OpEx
−$14.0K −$13.59/SF
NOI
$17.1K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,280
Cap Rate 7%
$244,486
Cap Rate 9%
$190,156
Alternative Uses
Best Use
Apartment 5plus
$244.5K
$213.9K – $285.2K
NOI $17,114 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$529.8K
$463.6K – $618.1K
NOI $37,086 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The one-bedroom residence includes parking, in-unit laundry and dedicated storage on the building’s lower level.
Where is this residential income property located?
The property is located at 3420 16TH STREET NW Unit 501 Washington, DC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,030‑square‑foot, one‑bedroom condominium on the fifth floor; 1918 brick mid‑rise with ceilings over 10 feet; One parking space included with the residence
