$2,200,000

1202 P ST NW, Washington, DC 20005

  • 4,279 sqft
  • Property Icon other
  • Property Year Built Icon Built in 1890
  • Property Lot Size Icon1,307sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $514/sqft
  • Property List Date Icon 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

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Seaton Elementary School

1503 10th St NW, Washington, DC, 20001

Grades EE-5

0.20 miles away

S

Shaw Middle School

, Washington, DC, 20001

Grades 6-8

0.12 miles away

D

Dunbar High School

101 N St NW, Washington, DC, 20001

Grades 9-12

0.84 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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