Sixth-Floor Residential Income
For Sale
$274,900
730 24TH STREET NW Unit 600, Washington, DC 20037
Updated residence with hardwood floors, natural light, and full-service cooperative amenities near Foggy Bottom Metro.
Property Size770 SF
Days on Market25
Property Features for 730 24TH STREET NW Unit 600
General Information
Standard status
Active
Size
770 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$214,758
Amenities
24-hour front desk
Building Details
Building Size
770 SF
Year Built
1961
Listing Agency:
RLAH @properties
(703) 415-6071
Listed By:
Katherine Krevor · License #SP98376634
(703) 415-6071
Source:
Kwcapitalproperties
Added: Aug 7
Changed: Aug 27
Last Checked: Aug 30 at 10:07PM
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
Investment Insights
Based on property information with market context.
This sixth-floor residential property at Potomac Plaza features large windows, hardwood flooring, fresh paint, and updated kitchen and bathroom interiors. The residence is described as move-in ready, with refreshed spaces designed for everyday use and comfort. The cooperative fee includes all utilities and property taxes, while the building provides a 24-hour front desk.
The property is located at 730 24th Street NW in Washington, DC, one block from the Foggy Bottom Metro and near GW University and Hospital. The Kennedy Center, Georgetown waterfront, restaurants, shopping, and Washington employers are also identified as nearby destinations. Built in 1961, the property combines an established building setting with updated interior finishes and access to full-service building amenities.
The property is located at 730 24th Street NW in Washington, DC, one block from the Foggy Bottom Metro and near GW University and Hospital. The Kennedy Center, Georgetown waterfront, restaurants, shopping, and Washington employers are also identified as nearby destinations. Built in 1961, the property combines an established building setting with updated interior finishes and access to full-service building amenities.
Key Highlights
- Sixth‑floor residence at Potomac Plaza with large windows and leafy neighborhood views
- Updated kitchen and bathroom, fresh paint, and hardwood floors
- 24‑hour front desk service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,794
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$255,880
$255.9K
Cap Rate 7%
$182,771
$182.8K
Cap Rate 9%
$142,156
$142.2K
Market Conditions
NOI Build-Up for 770 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.5K $31.80/SF
− Vacancy
−$1.2K −$1.59/SF
EGI
$23.3K $30.21/SF
− OpEx
−$10.5K −$13.59/SF
NOI
$12.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$255,880
Cap Rate 7%
$182,771
Cap Rate 9%
$142,156
Alternative Uses
Best Use
Apartment 5plus
$182.8K
$159.9K – $213.2K
NOI $12,794 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$396.1K
$346.6K – $462.1K
NOI $27,724 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 20037, DC
14,945
Population
8,828
Households
1.7
Avg Household Size
29
Median Age
90%
College-Educated
99%
High-School Grad
0.7 sq mi
ZIP Area
21,350
Density / Sq Mi
$98,917
Median Household Income
$69,480
Median Earnings
$2,420
Median Rent
$743,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated residence with hardwood floors, natural light, and full-service cooperative amenities near Foggy Bottom Metro.
Where is this residential income property located?
The property is located at 730 24TH STREET NW Unit 600 Washington, DC.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Sixth‑floor residence at Potomac Plaza with large windows and leafy neighborhood views; Updated kitchen and bathroom, fresh paint, and hardwood floors; 24‑hour front desk service
