Seven-Unit Apartment
For Sale
$2,900,000
623 5TH Street NE, Washington, DC 20002
Seven residences include private outdoor areas, with balconies, a covered porch, and a two-level carriage house.
Property Size7,825 SF
Price / SF$370.61
Days on Market89
Property Features for 623 5TH Street NE
General Information
Standard status
Active
Size
7,825 SF
Property subtype
Multi-family
Lease Term
[]
Net Operating Income
$195,650
Building Details
Year Built
1912
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Deborah K Reynolds · License #BR98374317
(240) 885-6806
Source:
Deepcreeklake
Added: Jul 19
Changed: Oct 15
Last Checked: Oct 14 at 11:24PM
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 Realty
Investment Insights
Based on property information with market context.
Built in 1912, this seven-unit apartment building at 623 5TH St NE includes a mix of spacious residences and a two-level carriage house. Units 1 through 3 each offer two bedrooms, two bathrooms, and two private balconies. Unit 4 includes two bedrooms, two bathrooms, and one private balcony. Units 5 and 6 are one-bedroom, one-bathroom residences, with Unit 6 also featuring a private covered porch. Unit 7 is a two-bedroom, 2.5-bathroom carriage house with two levels and a balcony.
The property is located in Capitol Hill, minutes from Union Station, Metro, the H Street Corridor, Eastern Market, and the U.S. Capitol. Surrounding amenities include restaurants, cafés, shopping, parks, cultural attractions, and major transportation. The property’s walkability and transit access are reflected in a Walk Score of 94, Transit Score of 70, and bikeScore of 87.
The property is located in Capitol Hill, minutes from Union Station, Metro, the H Street Corridor, Eastern Market, and the U.S. Capitol. Surrounding amenities include restaurants, cafés, shopping, parks, cultural attractions, and major transportation. The property’s walkability and transit access are reflected in a Walk Score of 94, Transit Score of 70, and bikeScore of 87.
Key Highlights
- Seven‑unit apartment building built in 1912
- Units 1–3: two bedrooms, two bathrooms, and two private balconies each
- Unit 7 carriage house includes two bedrooms, 2.5 bathrooms, two levels, and a balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,218
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,664,360
$2.7M
Cap Rate 7%
$1,903,114
$1.9M
Cap Rate 9%
$1,480,200
$1.5M
Market Conditions
NOI Build-Up for 7,825 SF
Gross rent
$258.2K $33.00/SF
− Vacancy
−$16.0K −$2.05/SF
EGI
$242.2K $30.95/SF
− OpEx
−$109.0K −$13.93/SF
NOI
$133.2K $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%
$2,664,360
Cap Rate 7%
$1,903,114
Cap Rate 9%
$1,480,200
Alternative Uses
Best Use
Apartment 5plus
$1.90M
$1.67M – $2.22M
NOI $133,218 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.04M
$3.54M – $4.71M
NOI $282,804 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,707
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven residences include private outdoor areas, with balconies, a covered porch, and a two-level carriage house.
Where is this apartment building located?
The property is located at 623 5TH Street NE Washington, DC.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Seven‑unit apartment building built in 1912; Units 1–3: two bedrooms, two bathrooms, and two private balconies each; Unit 7 carriage house includes two bedrooms, 2.5 bathrooms, two levels, and a balcony
