Residential Income Property with
For Sale
$445,000
50 FLORIDA AVENUE NE Unit 502, Washington, DC 20002
Condominium residence with private parking, storage, in-unit laundry, and access to full-service building amenities.
Property Size741 SF
Days on Market34
Property Features for 50 FLORIDA AVENUE NE Unit 502
General Information
Standard status
Active
Size
741 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR+DEN
Multifamily Units
1
Parking per Unit
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,844
Amenities
concierge
business center
outdoor pool
fitness room
clubroom
Building Details
Building Size
741 SF
Year Built
2019
Listing Agency:
Compass
Listed By:
Sarah Brown · License #SP98377143
(703) 973-4525
Source:
Kwcapitalproperties
Added: Sep 16
Changed: Oct 14
Last Checked: Oct 16 at 2:27PM
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.
Unit 502 is a 2019 condominium residence with one large bedroom, a den, hardwood flooring, and an open living and dining area. The kitchen includes gray shaker cabinetry, quartz countertops, and stainless steel appliances with a gas range. A private garage parking space, separate storage area, and in-unit washer and dryer convey with the property.
The full-service building includes concierge service, a business center, outdoor pool, fitness room, and clubroom, along with 8,000 square feet of retail space. The property is located at 50 Florida Avenue NE in Washington, DC, near Union Market, La Cosecha, and major transit hubs. The den can accommodate an additional guest room, home office, or walk-in closet, with a door installation providing greater privacy.
The full-service building includes concierge service, a business center, outdoor pool, fitness room, and clubroom, along with 8,000 square feet of retail space. The property is located at 50 Florida Avenue NE in Washington, DC, near Union Market, La Cosecha, and major transit hubs. The den can accommodate an additional guest room, home office, or walk-in closet, with a door installation providing greater privacy.
Key Highlights
- One large bedroom plus a den with flexible use
- Private garage parking and separate storage space included
- In‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,615
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,300
$252.3K
Cap Rate 7%
$180,214
$180.2K
Cap Rate 9%
$140,167
$140.2K
Market Conditions
NOI Build-Up for 741 SF
Gross rent
$24.5K $33.00/SF
− Vacancy
−$1.5K −$2.05/SF
EGI
$22.9K $30.95/SF
− OpEx
−$10.3K −$13.93/SF
NOI
$12.6K $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%
$252,300
Cap Rate 7%
$180,214
Cap Rate 9%
$140,167
Alternative Uses
Best Use
Apartment 5plus
$180.2K
$157.7K – $210.3K
NOI $12,615 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$382.6K
$334.8K – $446.4K
NOI $26,781 @ 7.0% cap · market cap 6.02%
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
3,537
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with private parking, storage, in-unit laundry, and access to full-service building amenities.
Where is this residential income property located?
The property is located at 50 FLORIDA AVENUE NE Unit 502 Washington, DC.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: One large bedroom plus a den with flexible use; Private garage parking and separate storage space included; In‑unit washer and dryer
