1202 P ST NW Washington, DC 20005
4,279 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Under Contract
Purchase Type For Sale
Square Footage 4,279 sqft
Price per Sqft $514
MLS Listing ID DCDC2211704
Style Other
Abv Grd Liv Area 3,423
Year Built 1890
Annual Tax Amount $14,452
Tax Year 2024
Lot Size 1,388 Sqft
Acres 0.03
Property Sub-Type Interior Row/Townhouse
Source BRIGHT
Property Description
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.
Location
State DC
County Washington
Zoning RA-2
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling None
Fireplaces Number 4
Fireplace Y
Heat Source Natural Gas
Exterior
Water Access N
Accessibility Other
Garage N
Building
Foundation Brick/Mortar
Above Ground Finished SqFt 3423
Sewer Other
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 0279//0046
Ownership Fee Simple
SqFt Source 4279
Special Listing Condition Standard
- 10
Eaton Elementary School
Public | PK - 5
- 10
Oyster Adams Bilingual School Oyster
Public | PK - 8
- 10
Ross Elementary School
Public | EE - 5
- 9
Murch Elementary School
Public | PK - 5
- 9
D C Preparatory Edgewood Elementary Public Charter School
Public | PK - 3
- 9
Maury Elementary School
Public | EE - 5
- 8
Hearst Elementary School
Public | PK - 5
- 8
Marie Reed Elementary School
Public | EE - 5
- 8
West Education Campus
Public | EE - 5
- 8
Inspired Teaching Demonstration Public Charter School
Public | PK - 5
- 8
Thomson Elementary School
Public | EE - 5
- 8
Truesdell Education Campus
Public | EE - 5
- 8
Center City Shaw Campus Public Charter School
Public | PK - 8
- 8
Barnard Elementary School
Public | EE - 5
- 8
Washington Latin Public Charter School Middle School
Public | 5 - 8
- 8
Washington Yu Ying Public Charter School
Public | PK - 6
- 8
Brent Elementary School
Public | EE - 5
- 8
Two Rivers Public Charter School Elementary School
Public | PK - 8
- 8
Ludlow-Taylor Elementary School
Public | EE - 5
- 8
D C Preparatory Edgewood Middle Campus Public Charter School
Public | 4 - 8
- 9
School Without Walls @ Francis-Stevens Education Campus
Public | EE - 8
- 8
Hardy Middle School
Public | 6 - 8
- 7
Columbia Heights Education Campus
Public | 6 - 8
- 6
Howard University Middle School of Math and Science
Public | 6 - 8
- 6
Stuart Hobson Middle School
Public | 6 - 8
- 5
Cesar Chavez Public Charter School for Public Policy Chavez Preparatory
Public | 6 - 9
- 5
Richard Wright Public Charter School for Journalism and Media Arts
Public | 8 - 11
- 4
Walker-Jones Education Campus
Public | EE - 8
- 4
Wheatley Education Campus
Public | EE - 8
- 0
Edmund Burke School
Private | 6 - 12
- 0
Parkmont School
Private | 6 - 12
- 0
MacFarland Middle School
Public | 6 - 8
- 0
Shaw Middle School
Public | 6 - 8
- 0
Jefferson Middle School Academy
Public | 6 - 8
- 0
Choice Academy at Emery
Public | 7 - 11
- 0
Kirov Academy of Ballet of Washington D.C.
Private | 7 - 12
- 0
McKinley Middle School
Public | 6 - 8
- 0
Youth Services Center
Public | 7 - 12
- 0
Friendship Public Charter School Chamberlain Middle School
Public | 6 - 8
- 0
Options Public Charter School
Public | 6 - 12
- 10
School Without Walls High School
Public | 9 - 12
- 10
Benjamin Banneker Academy High School
Public | 9 - 12
- 10
Washington Latin Public Charter School Upper School
Public | 9 - 12
- 10
McKinley Technology High School
Public | 9 - 12
- 9
Ellington School of the Arts
Public | 9 - 12
- 7
E L Haynes Public Charter School Kansas Ave High School
Public | 9 - 11
- 5
Cesar Chavez for Public Policy Capitol Hill Public Charter School
Public | 9 - 12
- 4
Dunbar High School
Public | 9 - 12
- 3
Cardozo Education Campus
Public | 9 - 12
- 2
Roosevelt High School
Public | 9 - 12
- 1
Anacostia High School
Public | 9 - 12
- 0
Georgetown Visitation Preparatory School
Private | 9 - 12
- 0
Emerson Preparatory School
Private | 9 - 12
- 0
The School for Ethics and Global Leadership
Private | 11 - 11
- 0
Latin America Youth Center Career Academy
Public | 9 - 12
- 0
The Next Step Public Charter School
Public | 9 - 12
- 0
Booker T Washington Public Charter School
Public | 9 - 12
- 0
Hospitality Public Charter School
Public | 9 - 12
- 0
Washington Metropolitan High School Formerly Yea
Public | 9 - 12
- 0
Gonzaga College High School
Private | 9 - 12
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