Residential Income Property with Garage
For Sale
$575,000
50 FLORIDA AVENUE NE Unit 819, Washington, DC 20002
Two-bedroom residence with open living areas, in-unit laundry, and access to full-service building amenities.
Property Size950 SF
Days on Market122
Property Features for 50 FLORIDA AVENUE NE Unit 819
General Information
Standard status
Active
Size
950 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,773
Building Details
Building Size
950 SF
Year Built
2019
Listing Agency:
RLAH @properties
Listed By:
Amanda S Hursen · License #SP98363675
(240) 476-9959
Source:
Barnesrealestatecompany
Added: Jun 20
Changed: Oct 17
Last Checked: Oct 16 at 4:26PM
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 RLAH @properties
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Investment Insights
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This two-bedroom, two-bath residence at The Lexicon combines an open-concept living and dining area with warm wood floors, high ceilings, recessed lighting, and double-pane windows. The kitchen connects directly to the main living space and includes a breakfast bar, while a gas fireplace adds a defined feature to the room. A walk-in closet and full-size in-unit laundry provide additional functionality. Built in 2019, the unit also includes underground garage parking.
Building amenities include concierge service, a fitness center, resident community spaces, and a resort-style pool. The property is located at 50 Florida Avenue NE in Washington, DC, within the NoMa neighborhood.
Building amenities include concierge service, a fitness center, resident community spaces, and a resort-style pool. The property is located at 50 Florida Avenue NE in Washington, DC, within the NoMa neighborhood.
Key Highlights
- Two‑bedroom, two‑bath residence
- Underground garage parking included
- Open kitchen, living, and dining arrangement with breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,173
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,460
$323.5K
Cap Rate 7%
$231,043
$231.0K
Cap Rate 9%
$179,700
$179.7K
Market Conditions
NOI Build-Up for 950 SF
Gross rent
$31.4K $33.00/SF
− Vacancy
−$1.9K −$2.05/SF
EGI
$29.4K $30.95/SF
− OpEx
−$13.2K −$13.93/SF
NOI
$16.2K $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%
$323,460
Cap Rate 7%
$231,043
Cap Rate 9%
$179,700
Alternative Uses
Best Use
Apartment 5plus
$231.0K
$202.2K – $269.6K
NOI $16,173 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.5K
$429.2K – $572.2K
NOI $34,334 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with open living areas, 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 819 Washington, DC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence; Underground garage parking included; Open kitchen, living, and dining arrangement with breakfast bar
