Under Contract

MLS: #DCDC2211704, Listed By: Ari Firoozabadi, Greysteel Company LLC, Source:Bright MLS

1202 P Street

WASHINGTON, DC 20005

$2,200,000 $9,275/Mo

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Overview

Bed

Bath

4,279

Sqft

0.03

Acre(Lot)

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 s upport 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.

Property Details

Property Type : Residential Income

Price : $2,200,000

AD Id : 67454375

MLS Id : DCDC2211704

Lot Size : 0.03 Acre

Living Area Size : 4,279

Year Built : 1890

County : WASHINGTON

Map

What's Nearby

Nearby Areas

Features

Interior Features

Appliances: Gas Water Heater
Heating & Cooling

Has Heating: Yes Heating: Natural Gas, Hot Water Cooling: None

Building Information

Year Built: 1890 Building Area Total: 4564 Construction Materials: Brick Pool Features: None Private Pool: No

Lot Information

Lot Size Acres: 0.03 Lot Size Source: Assessor Lot Size Square Feet: 1388

Listing Price Information

Listing Price: $2200000

Tax Information

Parcel Number: 0279//0046 Tax Lot: 46 Tax Year: 2024 Annual Tax: $14452

Parking Information

On Street

Location Information

Direction: ... WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1113 Massachusetts Avenue, Washington, DC, 20005	$11,000,000	12	11	--
1115 Rhode Island Avenue, Washington, DC, 20005	$3,745,000	5	5	4,610	4,610 SqFt
1420 Rhode Island Avenue, Washington, DC, 20005	$1,295,000	3	4	2,036	2,036 SqFt

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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which ByOwner participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have closed or are no longer being offered for sale. Information Deemed Reliable But Not Guaranteed. Copyright © 2026 Bright MLS. All rights reserved.

ByOwner last updated this listing 06/07/2026 @ 03:11

MLS: DCDC2211704 LISTED BY: Ari Firoozabadi, Greysteel Company LLC 202-280-2722 SOURCE: Bright MLS