For Sale
$2,300,000

2149 N StWashington, DC 20037

Four-unit building, high-demand location, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This four-unit apartment building at 2149 N Street NW, Washington, DC 20037, presents a compelling investment opportunity. The 3,780 square foot, Class B property, built in 1913 and renovated in 2023, sits on a 0.01-acre lot and is zoned RA-2/DC. Currently vacant, this 4-story building offers four spacious two-bedroom, two-bathroom units, each with separate gas and electric meters. The net rentable area is 2,895 square feet. Recent capital improvements include a new roof and updated appliances, minimizing upfront investment for the new owner. The property boasts a current pro-forma NOI of $154,067 and a 6.70% cap rate. Its prime location, just four blocks from George Washington University and two metro stations (Dupont Circle and Foggy Bottom), ensures high rental demand in a vibrant neighborhood known for its high rental rates. This TOPA-exempt property offers immediate income potential and significant long-term equity growth in one of the nation's most desirable urban areas. The asking price is $2,300,000.

Highlights

  • Vacant, four-unit multifamily building, TOPA exempt.
  • Four identical two-bedroom, two-bathroom units.
  • New roof (2023).
  • Individually metered utilities (gas & electric).
  • Projected 7.06% capitalization rate at stabilization.
  • Situated in a high-demand Washington, D.C. rental market.

Property Details for 2149 N St

Property type
Apartment buildings
Square Feet
3,780 SF
Class
B
Year Built/Renovated
1913/2023
Buildings
1
Stories
4
Lot Size (sq. ft)
436 SF
Units
4

Location Insight

City
Washington
County
District Of Columbia
State
District of Columbia
Latitude
38.90726758
Longitude
-77.04874572
2149 N St, Washington, District of Columbia

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2149 N St
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