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For sale
  • $2,200,000

    1202 P St NW, Washington, DC 20005

    --beds
    --baths
    4,279sqft
    : 
    Townhouse
    Built in 1890
    -- sqft lot
    $2,111,700 Zestimate®
    $514/sqft
    $-- HOA

    What's special

    New windowsNew roofEfficient floor plansInterior renovationsModern finishesSpacious layouts
    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.
    17 days
    on Zillow
    |
    530
    |
    39
    |

    Zillow last checked: 7 hours ago

    Listing updated: July 21, 2025 at 01:37am

    Listed by:

    Ari Firoozabadi 202-280-2722,

    Greysteel Company LLC

    Source: Bright MLS,MLS#: DCDC2211704MLS Logo
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    Next available tour time:Today at 11am

    Facts & features

    Interior

    Basement
    • Area: 1141
    Heating
    • Hot Water, Natural Gas
    Cooling
    • None, Other
    Appliances
    • Included: Gas Water Heater
    Features
    • Number of fireplaces: 4
    Interior area
    • Total structure area: 4,564
    • Total interior livable area: 4,279 sqft

    Property

    Parking
    • Parking features: On Street
    • Has uncovered spaces: Yes
    Accessibility
    • Accessibility features: Other
    Features
    • Pool features: None
    Lot
    • Size: 1,388 Square Feet
    • Features: Unknown Soil Type
    Details
    • Additional structures: Above Grade, Below Grade
    • Parcel number: 0279//0046
    • Zoning: RA-2
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Other
    • Property subtype: Townhouse
    Materials
    • Brick
    • Foundation: Brick/Mortar
    Condition
    • New construction: No
    • Year built: 1890

    Utilities & green energy

    • Sewer: Other
    • Water: Public

    Community & HOA

    Location
    • Region: Washington

    Financial & listing details

    • Price per square foot: $514/sqft
    • Tax assessed value: $1,726,170
    • Annual tax amount: $14,452
    • Date on market: 7/21/2025
    • Listing agreement: Exclusive Agency
    • Ownership: Fee Simple
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