Address
623 5th Street Ne, Washington, DC
Price
$ 2,900,000
Property Attributes
- MLS#DCDC2275936
- TypeSingle Family
- Listing Status ACTIVE
- CountyWASHINGTON
- CityWashington
- NeighborhoodOld City #1
- Zip20002
- StyleColonial
- Year Built1912
- Taxes$ 15540
- Price$ 2,900,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage7825
- Lot Size0.08 Acres
Data Source:
Bright MLS
Property Description
Investor Alert! Rare opportunity to acquire a seven-unit apartment building in the heart of Capitol Hill, offering strong in-place income, low operating expenses, and compelling value-add potential. With a Net Operating Income of $195,650 and an approximately 7% cap rate, this well-maintained property presents an attractive investment opportunity in one of the citys most desirable and well-connected locations. Investors can benefit from immediate cash flow while retaining clear opportunities for future rent optimization and long-term growth. Every residence is fully equipped with an in-unit washer and dryer for added tenant convenience. The property offers a desirable mix of floor plans, including a detached two-level, approximately 1,500-square-foot carriage house that adds unique flexibility and additional upside to the portfolio. Private outdoor space is another standout feature, with every residence offering at least one private outdoor area and most featuring two private balconiesa highly sought-after amenity in an urban market. The property also includes one private driveway parking space, an added convenience in this prime Capitol Hill setting. Unit Breakdown: Unit 1: 2 bedrooms, 2 bathrooms, 2 private balconies, in-unit washer/dryer Unit 2: 2 bedrooms, 2 bathrooms, 2 private balconies, in-unit washer/dryer Unit 3: 2 bedrooms, 2 bathrooms, 2 private balconies, in-unit washer/dryer Unit 4: 2 bedrooms, 2 bathrooms, 1 private balcony, in-unit washer/dryer Unit 5: 1 bedroom, 1 bathroom, in-unit washer/dryer Unit 6: 1 bedroom, 1 bathroom, private covered porch, in-unit washer/dryer Unit 7 (Carriage House): 2 bedrooms, 2.5 bathrooms, two levels, private balcony, in-unit washer/dryer Ideally located minutes from Union Station, Metro, the H Street Corridor, Eastern Market, and the U.S. Capitol, the property provides convenient access to dining, shopping, parks, employment centers, and major transportation routes. The combination of a strong approximately 7% cap rate, impressive NOI, in-unit laundry, private outdoor living spaces, driveway parking, and a premier Capitol Hill location makes this an exceptional turn-key asset with compelling long-term investment potential. Photos may be virtually staged.
| Elementary School | Middle School | High School |
|---|---|---|
| Ludlow-Taylor Elementary School | Stuart-Hobson Middle School | Eastern High School |
| Price History | |
|---|---|
| 7/29/2026 | Listed $2,900,000 |
General Features
| Living Area | 7825 |
|---|---|
| Sewer | Public Sewer |
| Heating | Other |
| Cooling | Other |
| Possession | Settlement |
| Zoning | R4 |
| Architectural Style | Colonial |
| Construction Materials | Brick |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHOOLS |
| Year Built | 1912 |
| Levels | 4 |
| Tax Year | 2026 |
| Ownership | Fee Simple |
| Cool Fuel | Other |
| Accessibility | None |
| County | WASHINGTON |
| New Construction | No |
| Property Type | Residential |
| HOA | No |
| Subdivision Name | OLD CITY #1 |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | via 6th St NE: Head toward 6th St NE,turn right onto 6th St NE,turn left onto F St NE,turn right onto 5th St NE,destination will be on the right |
| City | WASHINGTON |
| Senior Community Y/N | No |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 3552.00 |
| Tax Assessed Value | 2146980.0 |
| Tax Annual Amount | 15540.0 |
| Structure Type | Other |
| Condo/Coop Association fee Y/N | No |
| Bathrooms Count Main Level | 0.00 |
| Price Per Sq Ft Total AG | 370.61 |
| Vacation Rental Y/N | No |
| Virtual Tour | https://canva.link/mttuvxa1byf4cv4 |
| Total SQFT | 7825 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Legal Subdivision | Old City 1 |
| Tax Lot | 800 |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Hot Water | Other |
| Basement (Y/N) | No |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Above Grade Finished Area | 7825 |
| Central Air Y/N | No |
| Below Grade Finished Area Unit Type | Square Feet |
| LivingAreaSource | Estimated |
| Below Grade Unfin Area Units | Square Feet |
| Below Grade Unfin SQFT Source | Assessor |
| Below Grade Finished Area Source | Assessor |
| Above Grade Finished Area Source | Estimated |
| Above Grade Finished Area Unit Type | Square Feet |
Exterior Features
| Pool | No Pool |
|---|---|
| Water Source | Public |
| Total Parking Spaces | 1 |
| Type of Parking | On Street,Driveway |
| Foundation Details | Other |
| Water View Y/N | No |
| Lot Size Acres | 0.08 |
| Lot Size Source | Assessor |
| Waterfront Y/N | No |
| Soil Types | Unknown |
| Land Assessed Value | 613750.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 20002
Price
Taxes
Year Built
Visits
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