1202 P ST NW, Washington, DC 20005
- 4,279 sqft
other
Built in 1890
1,307sqft lot
—— car garage
$514/sqft
Listed 3 days ago
Property Description
THE OPPORTUNITY 1202 P Street NW presents a rare opportunity to acquire a meticulously maintained, four-unit apartment building in Logan Circle, one of Washington, DC’s most vibrant and walkable neighborhoods. The building is fully leased and generates strong in-place cash flow with upside potential through strategic rent increases or condo conversion. Each unit is approximately 950 SF, offering spacious layouts ideal for long-term tenants. SIGNIFICANT CAPITAL IMPROVEMENTS Current ownership has invested over $250,000 in renovations, including: • New High-End Front Door • Façade Repointing • New Windows • New Roof • Interior Renovations in All Units Systems upgrades include a new security system and replacement of all HVAC units. These improvements reduce future capex needs and support premium rents. ATTRACTIVE FEATURES The property includes two large 2BR/1BA units, one 1BR/1BA unit, and one garden-level 1BR/1BA unit, providing flexible leasing options for a range of tenant profiles. All units offer modern finishes, in-unit W/D, and efficient floor plans. STRONG IN-PLACE CASH FLOW The property generates annual gross rents of $142,248 ($11,854/month), with relatively low monthly expenses, representing a strong yield at acquisition. In-place rent averages $3.09/SF/month with room for increases based on comps in the submarket. PREMIUM LOGAN CIRCLE LOCATION Located on a quiet residential block in Logan Circle, 1202 P Street NW is walkable to Whole Foods, 14th Street’s retail and restaurant corridor, and Metro. The area is among DC’s most desirable rental locations, offering stability, lifestyle amenities, and long-term value appreciation. High demand for boutique units in this submarket ensures continued low vacancy. LOWER MONTHLY CARRY WITH FHA LEVERAGE Buyers can utilize 95% FHA financing to significantly reduce cash-to-close and monthly debt service. With a 30-year fixed loan, monthly P&I can be as low as $12,600. This allows an owner-occupant to live in one unit with mortgage payments reduced by rents.
- Listing Status:
- Active
- Listing Office:
- Greysteel Company LLC : 2022802722
- Listing Agent:
- Ari Firoozabadi : 2022802722
- MLS ID:
- DCDC2211704

- A/C: None
- Heating: Hot WaterNatural Gas
- Fireplace: FireplaceFireplaces: 4
- Disability Feature: Other
This listing courtesy of Ari Firoozabadi, Greysteel Company LLC
Monthly Payment
- Principal & Interest $
- Property Taxes $
- Home Insurance $
- VA Funding Fee $
Location
Schools Nearby
Seaton Elementary School
1503 10th St NW, Washington, DC, 20001
Grades EE-5
0.20 miles away
Shaw Middle School
, Washington, DC, 20001
Grades 6-8
0.12 miles away
Dunbar High School
101 N St NW, Washington, DC, 20001
Grades 9-12
0.84 miles away