1202 P St Nw, WASHINGTON, DC 20005
Local realty services provided by:ERA Central Realty Group
1202 P St Nw,WASHINGTON, DC 20005
$2,200,000
- - Beds
- - Baths
- 4,279 sq. ft.
- Multi-family
- Active
Listed by:ari firoozabadi
Office:greysteel company llc.
MLS#:DCDC2211704
Source:BRIGHTMLS
Price summary
- Price:$2,200,000
- Price per sq. ft.:$514.14
About this home
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.
Contact an agent
Home facts
- Year built:1890
- Listing Id #:DCDC2211704
- Added:27 day(s) ago
- Updated:August 17, 2025 at 01:30 PM
Rooms and interior
- Living area:4,279 sq. ft.
Heating and cooling
- Heating:Hot Water, Natural Gas
Structure and exterior
- Year built:1890
- Building area:4,279 sq. ft.
- Lot area:0.03 Acres
Utilities
- Water:Public
Finances and disclosures
- Price:$2,200,000
- Price per sq. ft.:$514.14
- Tax amount:$14,452 (2024)
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