Studio Condominium with Updated
For Sale
$229,000
922 24TH STREET NW Unit 418, Washington, DC 20037
Building amenities include a 24-hour front desk, an outdoor pool, and first-floor laundry facilities.
Property Size499 SF
Price / SF$458.92
Days on Market138
Property Features for 922 24TH STREET NW Unit 418
General Information
Standard status
Active
Size
499 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Foggy Bottom
Taxes and HOA fees
Annual Taxes
$2,101
Building Details
Building Size
499 SF
Year Built
1962
Listing Agency:
Compass
Listed By:
William Ta · License #SP40002131
(240) 401-3181
Source:
Districtpropertygroup
Added: Jun 15
Changed: Oct 27
Last Checked: Oct 26 at 4:07PM
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 Compass
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Investment Insights
Based on property information with market context.
This 499-square-foot studio condominium occupies the second floor, one level above the lobby, and faces east toward 24th Street. The kitchen has been updated and includes a dishwasher. Ample closet storage and a full wall of windows add practical storage and natural light to the unit. Flooring was replaced a couple of years before the listing remarks were written.
The Jefferson House is behind GW Hospital and GW Medical School, with the Foggy Bottom Metro nearby. Whole Foods and restaurants are one block away; the Kennedy Center, State Department, and World Bank are also close by. Georgetown shops and restaurants are a few blocks away, and the Circulator Bus provides access to downtown. Building amenities include a 24-hour front desk, outdoor pool, and first-floor laundry room. Electricity, water, and gas are included in the condo fees.
The Jefferson House is behind GW Hospital and GW Medical School, with the Foggy Bottom Metro nearby. Whole Foods and restaurants are one block away; the Kennedy Center, State Department, and World Bank are also close by. Georgetown shops and restaurants are a few blocks away, and the Circulator Bus provides access to downtown. Building amenities include a 24-hour front desk, outdoor pool, and first-floor laundry room. Electricity, water, and gas are included in the condo fees.
Key Highlights
- 499‑square‑foot studio on the second floor, above the lobby
- Updated kitchen with dishwasher
- East‑facing unit with a wall of windows and ample closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,291
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,820
$165.8K
Cap Rate 7%
$118,443
$118.4K
Cap Rate 9%
$92,122
$92.1K
Market Conditions
NOI Build-Up for 499 SF
Gross rent
$15.9K $31.80/SF
− Vacancy
−$793 −$1.59/SF
EGI
$15.1K $30.21/SF
− OpEx
−$6.8K −$13.59/SF
NOI
$8.3K $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%
$165,820
Cap Rate 7%
$118,443
Cap Rate 9%
$92,122
Alternative Uses
Best Use
Apartment 5plus
$118.4K
$103.6K – $138.2K
NOI $8,291 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$256.7K
$224.6K – $299.5K
NOI $17,967 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
17,858
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Building amenities include a 24-hour front desk, an outdoor pool, and first-floor laundry facilities.
Where is this residential income property located?
The property is located at 922 24TH STREET NW Unit 418 Washington, DC.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 499‑square‑foot studio on the second floor, above the lobby; Updated kitchen with dishwasher; East‑facing unit with a wall of windows and ample closets
