Building Details

Building Size 1,500 SF

Year Built 1962

Listing Agency: RLAH @properties

Listed By: Arial Pegues · License #617995 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 25 Last Checked: Oct 7 at 1:20PM

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Investment Insights

Based on property information with market context.

A residential income property is available for sale. The list price is $499,000.

Key Highlights

• Year Built: 1962

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,923

Cap Rate

7.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$498,460 $498.5K

Cap Rate 7%

$356,043 $356.0K

Cap Rate 9%

$276,922 $276.9K

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$47.7K $31.80/SF

− Vacancy

−$2.4K −$1.59/SF

EGI

$45.3K $30.21/SF

− OpEx

−$20.4K −$13.59/SF

NOI

$24.9K $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%

$498,460

Cap Rate 7%

$356,043

Cap Rate 9%

$276,922

Alternative Uses

Best Use

Apartment 5plus

$356.0K

$311.5K – $415.4K (±1% cap)

NOI $24,923 @ 7.0% cap · market cap 7.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$771.6K

$675.1K – $900.2K (±1% cap)

NOI $54,009 @ 7.0% cap · market cap 16.37%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Electrical Service Auto Parts Store (Bike/Boat/Book/etc) Store Locksmith Plumbing Service Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,490

Businesses Nearby

Explore this area Business Placement

Demographics for 20024, DC

15,952

Population

11,560

Households

1.4

Avg Household Size

37

Median Age

70%

College-Educated

94%

High-School Grad

2.2 sq mi

ZIP Area

7,251

Density / Sq Mi

$102,623

Median Household Income

$94,419

Median Earnings

$2,121

Median Rent

$497,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Residential income property available for purchase.

Where is this apartment building located?

The property is located at 354 N St SW 354 Washington, DC.

What is the asking price?

The asking price for this property is $330,000.

What are key features of this property?

This property features: Year Built: 1962