Amenity-Rich Residential Income
For Sale
$399,000
50 FLORIDA AVENUE NE Unit 226, Washington, DC 20002
Condominium unit with concierge service, pool, fitness room, garage parking, storage, and in-unit laundry.
Property Size705 SF
Days on Market288
Property Features for 50 FLORIDA AVENUE NE Unit 226
General Information
Standard status
Active
Size
705 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
NoMa
Units
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$3,679
Amenities
staffed front desk & concierge
outdoor pool and patio
fitness room
residents lounge and club and party space
extra storage unit
hardwood flooring
gourmet kitchen
in-unit washer/dryer
Building Details
Building Size
705 SF
Year Built
2019
Listing Agency:
Keller Williams Capital Properties
Listed By:
Yvonne T Lee II · License #644794
(301) 613-6070
Source:
Kwcapitalproperties
Added: Jan 16
Changed: Oct 29
Last Checked: Oct 30 at 9:17PM
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 Keller Williams Capital Properties
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Investment Insights
Based on property information with market context.
This fifth-floor condominium unit at The Lexicon offers an open interior with hardwood flooring, treetop views, a gourmet kitchen, generous closet space, and an in-unit washer and dryer. The residence also includes a dedicated garage parking space and an additional storage unit.
Completed in 2019, The Lexicon provides staffed front-desk and concierge services, an outdoor pool with patio, a fitness room, resident lounge, and club and party areas. The property is located at 50 Florida Avenue NE, Unit 524, in Washington, DC.
Completed in 2019, The Lexicon provides staffed front-desk and concierge services, an outdoor pool with patio, a fitness room, resident lounge, and club and party areas. The property is located at 50 Florida Avenue NE, Unit 524, in Washington, DC.
Key Highlights
- Fifth‑floor condominium unit with open floor plan and hardwood flooring
- Built in 2019 at The Lexicon Condominium
- Dedicated garage parking space and additional storage unit included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,002
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,040
$240.0K
Cap Rate 7%
$171,457
$171.5K
Cap Rate 9%
$133,356
$133.4K
Market Conditions
NOI Build-Up for 705 SF
Gross rent
$23.3K $33.00/SF
− Vacancy
−$1.4K −$2.05/SF
EGI
$21.8K $30.95/SF
− OpEx
−$9.8K −$13.93/SF
NOI
$12.0K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,040
Cap Rate 7%
$171,457
Cap Rate 9%
$133,356
Alternative Uses
Best Use
Apartment 5plus
$171.5K
$150.0K – $200.0K
NOI $12,002 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.0K
$318.5K – $424.7K
NOI $25,479 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,537
Businesses Nearby
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Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium unit with concierge service, pool, fitness room, garage parking, storage, and in-unit laundry.
Where is this residential income property located?
The property is located at 50 FLORIDA AVENUE NE Unit 226 Washington, DC.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Fifth‑floor condominium unit with open floor plan and hardwood flooring; Built in 2019 at The Lexicon Condominium; Dedicated garage parking space and additional storage unit included
