623 5th St Ne, Washington, DC 20002
Local realty services provided by:CENTURY 21 Mertz & Associates
Listed by: greg s schwartz
Office: keller williams realty
MLS#:DCDC2275936
Source:BRIGHTMLS
Price summary
- Price:$2,900,000
- Price per sq. ft.:$370.61
About this home
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 city’s 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 balconies—a 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.
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Home facts
- Year built:1912
- Subdivision & Development:OLD CITY #1
- Listing ID #:DCDC2275936
- Added:91 day(s) ago
- Updated:October 29, 2026 at 02:43 PM
Rooms and interior
- Living area:7,825 sq. ft.
Heating and cooling
- Heating:Natural Gas
Structure and exterior
- Year built:1912
- Building area:7,825 sq. ft.
- Lot area:0.08 Acres
- Architectural Style:Colonial
- Construction Materials:Brick
- Levels:4 Story
Schools
- High school:EASTERN
- Middle school:STUART-HOBSON
- Elementary school:LUDLOW-TAYLOR
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$2,900,000
- Price per sq. ft.:$370.61
- Tax amount:$15,540 (2026)
Parking
- Parking description:On Street
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