Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    717-719 Irving St Washington, DC 20017

    • Apartment buildings
    • 5,371 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 717-719 Irving St

    Property size
    5,371 SF
    Property type
    Apartment buildings

    Description

    This exceptional value-add investment opportunity presents two adjacent, two-story Class B apartment buildings in Washington, D.C.'s Brookland neighborhood. Located near The Catholic University of America, this property comprises seven units totaling 5,371 square feet of net rentable space, situated on a combined 4,247 square foot lot. The buildings feature six two-bedroom, one-bathroom units and a separate basement studio apartment. Each building offers approximately half of the total square footage. Currently vacant and TOPA-free, this property presents a unique chance for renovation and repositioning. With eight parking spaces and permitted RF-1 zoning, the property offers significant potential for future development or long-term rental income. The asking price is $1,490,000, translating to $212,857.14 per unit and $277.42 per square foot. The property is offered under simple ownership with no ground lease. The buildings are fully vacant, providing immediate opportunity for upgrades and maximizing rental income. The property's location near a major university and its potential for various uses make it an attractive investment. The existing structure provides a solid foundation for a variety of value-add strategies, from cosmetic improvements to more extensive renovations. This is a rare chance to acquire a multifamily property in a desirable location with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Washington
    State
    DC
    Longitude
    -76.995
    Latitude
    38.9284

    Comparable in this City

    • Value Estimation
      $460,000
      10,692 SF

      617 Hamlin NE St

      APARTMENT HOUSE (5+ UNITS) • 10,692 SF
      617 Hamlin NE St, Washington, DC 20017-1330
      View Details
    • Value Estimation
      $435,000
      5,320 SF

      643 Hamlin NE St

      APARTMENT HOUSE (5+ UNITS) • 5,320 SF
      643 Hamlin NE St, Washington, DC 20017-1337
      View Details
    • Value Estimation by Request
      12,500 SF

      700 Quincy St

      Multifamily properties • 12,500 SF
      700 Quincy St, Washington, DC 20017
      View Details
    • Value Estimation
      $4,245,000
      16,632 SF

      3220 12th NE St

      APARTMENT HOUSE (5+ UNITS) • 16,632 SF
      3220 12th NE St, Washington, DC 20017-4032
      View Details
    • Value Estimation
      $420,000
      4,080 SF

      629 Hamlin NE St

      APARTMENT HOUSE (5+ UNITS) • 4,080 SF
      629 Hamlin NE St, Washington, DC 20017-1333
      View Details
    • Value Estimation
      $460,000
      5,141 SF

      1005 Michigan NE Ave

      APARTMENT HOUSE (5+ UNITS) • 5,141 SF
      1005 Michigan NE Ave, Washington, DC 20017
      View Details

    Similar Nearby for Sale

    • $5,400,000
      18,616 SF

      Versatile Building in Brookland Neighborhood

      Four-story, 18,616 SF building suitable for various uses.
      831 Varnum St NE, Washington, DC 20017
      View Details
    • $1,000,000
      3,200 SF

      Brookland Multifamily Investment Opportunity

      Updated 4-unit building near Metro and universities.
      820 Taylor St NE, Washington, DC 20017
      View Details
    • New
      $999,999
      3,722 SF

      Multi-Family Building in Washington, DC

      Four-unit, fully-brick multi-family building with modern upgrades in Washington, DC.
      413 Evarts St NE, Washington, DC 20017
      View Details
    • $649,999

      Multifamily Property with Approved Plans

      Multifamily property with permits for two additional units included.
      622 Evarts St NE, Washington, DC 20017
      View Details
    • $574,900

      Brick Triplex Near Fort Totten

      Three-story brick triplex with renovated features and potential rental income.
      1261 Gallatin St NE, Washington, DC 20017
      View Details
    • $580,000

      Modern Condo in Brookland

      Light-filled condo near shops, restaurants, parks, and Metro.
      1201 Kearny St NE, Washington, DC 20017
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      41,681 SF

      Versatile Edgewood Street Property

      Adaptable 41,681 square foot space suitable for various uses.
      711 Edgewood St NE, Washington, DC 20017
      View Details
    • Contact for pricing
      9,604 SF

      Office Space in Washington, DC

      9,604 SF office space available for rent.
      900 Franklin St NE, Washington, DC 20017
      View Details
    • Contact for pricing
      16,267 SF

      Monroe Street Market Retail Space

      Vibrant DC location, multiple units available.
      625 Monroe St, Washington, DC 20017
      View Details
    • Contact for pricing
      1,002 SF

      Office Space for Rent

      1002 square feet office space available for rent.
      1140 Varnum St Ne, Washington, DC 20017
      View Details
    • $17,321 /Mo
      8,276 SF

      Renovated Office Space in Brookland

      Plug-and-play office space in vibrant Brookland neighborhood.
      3401 8Th St NE, Washington, DC 20017
      View Details
    • $32 SF/Yr
      24,467 SF

      Columbia Heights Retail/Office Space

      Located at Columbia Heights Metro Station with retail and residential.
      3029 14Th St Nw, Washington, DC 20017
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    717-719 Irving St
    Washington, DC 20017
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.