Condominium with Rooftop
For Sale
$345,000
616 E STREET NW Unit 407, Washington, DC 20004
An existing tenant occupies the residence, while building amenities include concierge service, a fitness center and conference space.
Property Size603 SF
Price / SF$572.14
Days on Market92
Property Features for 616 E STREET NW Unit 407
General Information
Standard status
Active
Size
603 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
East End
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,076
Amenities
rooftop area
outdoor pool
grills
24 hour concierge
fitness center
conference room
movie theater
business center
Building Details
Building Size
603 SF
Year Built
2004
Tenancy
Single
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Bridget Rigato · License #200200681
(443) 934-7362
Source:
Canopy-re
Added: Jul 31
Changed: Oct 27
Last Checked: Oct 26 at 12:26PM
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 TTR Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Built in 2004, this condominium has an open kitchen, wood flooring, a full bathroom with a soaking tub and multiple storage areas. Three-quarter-length windows bring natural light into the living space, which can also accommodate a desk. The residence is offered with an existing tenant, and underground parking is available to rent on a month-to-month basis.
Building amenities include a rooftop with an outdoor pool and grills, a 24-hour concierge, fitness center, conference room, movie theater and business center. The rooftop was updated in 2024; the gym and common areas were redesigned in 2025. Hallway improvements, including flooring, lighting and wall coverings, were completed in 2020.
The property is in Penn Quarter, near restaurants, museums, the National Mall and Capital One Arena. Metro service, Union Station, Reagan National Airport and major highways are also nearby.
Building amenities include a rooftop with an outdoor pool and grills, a 24-hour concierge, fitness center, conference room, movie theater and business center. The rooftop was updated in 2024; the gym and common areas were redesigned in 2025. Hallway improvements, including flooring, lighting and wall coverings, were completed in 2020.
The property is in Penn Quarter, near restaurants, museums, the National Mall and Capital One Arena. Metro service, Union Station, Reagan National Airport and major highways are also nearby.
Key Highlights
- Existing tenant in place
- Rooftop includes an outdoor pool and grills
- 24‑hour concierge, fitness center, conference room, movie theater and business center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,019
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$200,380
$200.4K
Cap Rate 7%
$143,129
$143.1K
Cap Rate 9%
$111,322
$111.3K
Market Conditions
NOI Build-Up for 603 SF
Gross rent
$19.2K $31.80/SF
− Vacancy
−$959 −$1.59/SF
EGI
$18.2K $30.21/SF
− OpEx
−$8.2K −$13.59/SF
NOI
$10.0K $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%
$200,380
Cap Rate 7%
$143,129
Cap Rate 9%
$111,322
Alternative Uses
Best Use
Apartment 5plus
$143.1K
$125.2K – $167.0K
NOI $10,019 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.2K
$271.4K – $361.9K
NOI $21,711 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
10,953
Businesses Nearby
Explore this area
Business Placement
Demographics for 20004, DC
1,682
Population
1,593
Households
1.1
Avg Household Size
40
Median Age
95%
College-Educated
100%
High-School Grad
0.2 sq mi
ZIP Area
8,410
Density / Sq Mi
$161,359
Median Household Income
$133,857
Median Earnings
$2,945
Median Rent
$650,700
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - An existing tenant occupies the residence, while building amenities include concierge service, a fitness center and conference space.
Where is this residential income property located?
The property is located at 616 E STREET NW Unit 407 Washington, DC.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Existing tenant in place; Rooftop includes an outdoor pool and grills; 24‑hour concierge, fitness center, conference room, movie theater and business center
