$2,200,000

1202 P St NW Washington, DC 20005

Logan Circle Neighborhood

Estimated payment $12,822/month

Total Views 4,831
-- Bed
-- Bath
4,279 Sq Ft
$514 Price per Sq Ft

Highlights

  • 4 Fireplaces
  • Hot Water Heating System
  • 1-minute walk to Logan Circle

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

• Facade 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.

Listing Agent

Ari Firoozabadi

midatlanticmf@greysteel.com Greysteel Company LLC License #0225081719 Listed on: 07/21/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,452

Year Built

  • Built in 1890

Lot Details

  • 1,388 Sq Ft Lot

Parking

  • On-Street Parking

Home Design

  • Brick Exterior Construction
  • Brick Foundation

Interior Spaces

  • 4 Fireplaces

Utilities

  • Hot Water Heating System
  • Natural Gas Water Heater

Community Details

  • 4 Units

Listing and Financial Details

  • Tax Lot 46
  • Assessor Parcel Number 0279//0046

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,452

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Interior Row/Townhouse
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1890
  • Remarks Public: 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.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces Count: 4
  • Fireplace: Yes
  • Foundation Details: Brick/Mortar
  • Total Sq Ft: 4564
  • Living Area Sq Ft: 4279
  • Price Per Sq Ft: 642.71
  • Above Grade Finished Sq Ft: 3423
  • Below Grade Finished Sq Ft: 856
  • Below Grade Sq Ft: 285
  • Total Below Grade Sq Ft: 1141
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 1202

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Type Of Parking: On Street

Utilities

  • Central Air Conditioning: No
  • Heating Fuel: Natural Gas
  • Heating Type: Hot Water
  • Heating: Yes
  • Hot Water: Natural Gas
  • Water Source: Public

Schools

  • School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
  • School District Key: 121140357950
  • School District Source: Listing Agent

Lot Info

  • Lot Size Acres: 0.03
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1388.00
  • Soil Types: Unknown
  • Year Assessed: 2024
  • Zoning: RA-2
  • In City Limits: Yes

Rental Info

  • Vacation Rental: No

Tax Info

  • Tax Annual Amount: 14452.00
  • Assessor Parcel Number: 0279//0046
  • Tax Lot: 46
  • Tax Total Finished Sq Ft: 4279
  • County Tax Payment Frequency: Annually
  • Tax Year: 2024

MLS Schools

  • School District Name: DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/21/2025 07/21/25 For Sale $2,200,000 +25.7% $514 / Sq Ft
12/11/2017 12/11/17 Sold $1,750,000 -2.8% $511 / Sq Ft
09/07/2017 09/07/17 Pending -- -- --
08/25/2017 08/25/17 For Sale $1,800,000 0.0% $526 / Sq Ft
07/26/2017 07/26/17 Pending -- -- --
07/20/2017 07/20/17 For Sale $1,800,000 -- $526 / Sq Ft
Source: Bright MLS

Purchase History

Date Type Sale Price Title Company
Special Warranty Deed $1,750,000 Kvs Title Llc
Warranty Deed $1,175,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $100,000 Credit Line Revolving
Previous Owner $801,950 Commercial
Source: Public Records

Source: Bright MLS

MLS Number: DCDC2211704

Bright MLS

APN: 0279 0046

District of Columbia District of Columbia County Washington 20005 Logan Circle

1202 P St NW, Washington, DC

This home is located at 1202 P St NW, Washington, DC 20005 and is currently priced at $2,200,000, approximately $514 per square foot. This property was built in 1890. 1202 P St NW is a home located in District of Columbia with nearby schools including Seaton Elementary School, Cardozo Education Campus, and Center City Public Charter School - Shaw.

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