623 5th St Ne, Washington, DC 20002

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, this well-maintained property provides immediate cash flow alongside clear opportunities for future rent optimization. Every residence in the building comes fully equipped with an in-unit washer and dryer for tenant convenience. The property features a desirable mix of layout options, including a detached two-level, 1,500-square-foot carriage house that adds unique flexibility and 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 a urban market. 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 seamless access to dining, shopping, parks, and major transportation routes. The combination of strong financials, in-unit laundry, outdoor living spaces, and a prime location makes this an exceptional turn-key asset with long-term growth potential. Photos may be virtually staged.