About 623 5th St Ne
Investor Alert! Rare opportunity to acquire a large seven-unit apartment building in the heart of Capitol Hill, offering strong in-place income, low operating expenses, and significant value-add potential. With a Net Operating Income of $195,650, this well-maintained property delivers immediate cash flow while providing ample opportunity for a new owner to increase value and maximize future returns. The property also includes a 1,500-square-foot carriage house, adding flexibility and enhancing the overall appeal of this unique investment.
One of the property's standout features is its abundance of private outdoor space. Every residence includes at least one private outdoor area, while most offer two private balconies, an increasingly sought-after amenity in urban living.
Unit Breakdown:
Unit 1: 2 bedrooms, 2 bathrooms, 2 private balconies
Unit 2: 2 bedrooms, 2 bathrooms, 2 private balconies
Unit 3: 2 bedrooms, 2 bathrooms, 2 private balconies
Unit 4: 2 bedrooms, 2 bathrooms, 1 private balcony
Unit 5: 1 bedroom, 1 bathroom
Unit 6: 1 bedroom, 1 bathroom with a private covered porch
Unit 7: Carriage house 2 bedrooms, 2.5 bathrooms, two levels, balcony
Ideally located just minutes from Union Station, Metro, the H Street Corridor, Eastern Market, and the U.S. Capitol, the property offers convenient access to restaurants, cafés, shopping, parks, cultural attractions, and major transportation. The combination of spacious residences, desirable private outdoor spaces, a premier Capitol Hill location, a detached carriage house, proven income, and clear upside potential makes this an exceptional investment opportunity. Photos may be virtually staged.
