Triplex Residential Income Property with Rooftop
For Sale
$949,000
774 GIRARD STREET NW Unit 6W, Washington, DC 20001
Modern three-level residence with flexible den space, designer finishes, private outdoor space, and city views.
Property Size1,638 SF
Days on Market33
Property Features for 774 GIRARD STREET NW Unit 6W
General Information
Standard status
Active
Size
1,638 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,737
Amenities
private rooftop deck
in-unit laundry
marble counters
gas range
stainless steel appliances
Italian white oak floors
exposed beams
factory-style windows
Building Details
Building Size
1,638 SF
Year Built
2016
Listing Agency:
RE/MAX Allegiance
(202) 329-6632
Listed By:
Aerica Kennedy · License #SP98368924
(202) 329-6632
Source:
Barnesrealestatecompany
Added: Jul 23
Changed: Aug 20
Last Checked: Aug 23 at 8:32AM
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 RE/MAX Allegiance
Investment Insights
Based on property information with market context.
This three-level residential income property features two bedrooms, two baths, and a flexible den that can serve as an office, guest room, or library. The main level uses an open layout for living, dining, and kitchen functions, with exposed beams, oversized factory-style windows, marble countertops, a gas range, stainless steel appliances, industrial shelving, and Italian white oak flooring. In-unit laundry is included, while the primary suite offers custom closets and a private bath with a double vanity and glass walk-in shower.
A private rooftop deck provides south-facing outdoor space and views toward the Washington Monument. The property is part of a 2016 conversion containing fifteen residences at a designated DC landmark. Park View dining, Columbia Heights retail, and Metro access are all described as a short walk away.
A private rooftop deck provides south-facing outdoor space and views toward the Washington Monument. The property is part of a 2016 conversion containing fifteen residences at a designated DC landmark. Park View dining, Columbia Heights retail, and Metro access are all described as a short walk away.
Key Highlights
- Three‑level layout with two bedrooms, two baths, and a dedicated den
- Private south‑facing rooftop deck with Washington Monument views
- Open living, dining, and kitchen arrangement with exposed beams and factory‑style windows
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
$27,216
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
2.87%
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%
$544,320
$544.3K
Cap Rate 7%
$388,800
$388.8K
Cap Rate 9%
$302,400
$302.4K
Market Conditions
NOI Build-Up for 1,638 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
$52.1K $31.80/SF
− Vacancy
−$2.6K −$1.59/SF
EGI
$49.5K $30.21/SF
− OpEx
−$22.3K −$13.59/SF
NOI
$27.2K $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%
$544,320
Cap Rate 7%
$388,800
Cap Rate 9%
$302,400
Alternative Uses
Best Use
Apartment 5plus
$388.8K
$340.2K – $453.6K
NOI $27,216 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$842.5K
$737.2K – $983.0K
NOI $58,977 @ 7.0% cap · market cap 6.21%
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
5,266
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Modern three-level residence with flexible den space, designer finishes, private outdoor space, and city views.
Where is this residential income property located?
The property is located at 774 GIRARD STREET NW Unit 6W Washington, DC.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Three‑level layout with two bedrooms, two baths, and a dedicated den; Private south‑facing rooftop deck with Washington Monument views; Open living, dining, and kitchen arrangement with exposed beams and factory‑style windows
