2149 N St NW
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
2149 N St NW
4 Unit Apartment Building $2,300,000 ($575,000/Unit) 6.70% Cap Rate Washington, DC 20037
Investment Highlights
- Vacant, four-unit building – TOPA exempt
- New Roof Installed in 2023
- Projected 7.06% CAP Rate Upon Stabilization
- Attractive Mix of Four Two-Bedroom, Two-Bath Units
- Separately Metered for Gas and Electric
- Just Four Blocks From Both Dupont Circle and Foggy Bottom Metro Stations
Executive Summary
Marcus & Millichap is proud to exclusively present 2149 N Street NW, a premier four-unit multifamily property located in the heart of Dupont Circle, one of Washington, D.C.'s most vibrant and sought-after neighborhoods.
This rare, TOPA-exempt investment opportunity spans 3,780 SF across three levels, featuring four spacious two-bedroom, two-bathroom units, each separately metered for electric and gas. All units are vacant and ready for immediate leasing. Recent capital improvements—including a new roof, updated appliances, a refurbished common area, and unit renovations—greatly reduce the need for upfront investment, allowing new owners to quickly place tenants and generate income.
Zoned RA-2 DC, the property is projected to deliver a 7.06% CAP rate with a stabilized Net Operating Income (NOI) of $162,000. Dupont Circle’s high-demand rental market, driven by its proximity to major universities, hospitals, and downtown D.C., commands some of the highest rental rates in the city, averaging 39% above the national average.
Located just four blocks from George Washington University, Foggy Bottom Metro, and Dupont Circle Metro, this property is ideally positioned to attract both student renters and professionals seeking convenience and a quick commute. Nestled between Embassy Row, George Washington University, and Downtown D.C., 2149 N Street NW offers immediate income potential with substantial long-term equity growth in one of the nation's most desirable urban neighborhoods.
This rare, TOPA-exempt investment opportunity spans 3,780 SF across three levels, featuring four spacious two-bedroom, two-bathroom units, each separately metered for electric and gas. All units are vacant and ready for immediate leasing. Recent capital improvements—including a new roof, updated appliances, a refurbished common area, and unit renovations—greatly reduce the need for upfront investment, allowing new owners to quickly place tenants and generate income.
Zoned RA-2 DC, the property is projected to deliver a 7.06% CAP rate with a stabilized Net Operating Income (NOI) of $162,000. Dupont Circle’s high-demand rental market, driven by its proximity to major universities, hospitals, and downtown D.C., commands some of the highest rental rates in the city, averaging 39% above the national average.
Located just four blocks from George Washington University, Foggy Bottom Metro, and Dupont Circle Metro, this property is ideally positioned to attract both student renters and professionals seeking convenience and a quick commute. Nestled between Embassy Row, George Washington University, and Downtown D.C., 2149 N Street NW offers immediate income potential with substantial long-term equity growth in one of the nation's most desirable urban neighborhoods.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$208,428
|
$63.01
|
| Other Income |
$2,000
|
$0.60
|
| Vacancy Loss |
$6,253
|
$1.89
|
| Effective Gross Income |
$204,175
|
$61.72
|
| Taxes |
$17,353
|
$5.25
|
| Operating Expenses |
$32,755
|
$9.90
|
| Total Expenses |
$50,108
|
$15.15
|
| Net Operating Income |
$154,067
|
$46.57
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $208,428 |
| Annual Per SF | $63.01 |
| Other Income | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $0.60 |
| Vacancy Loss | |
|---|---|
| Annual | $6,253 |
| Annual Per SF | $1.89 |
| Effective Gross Income | |
|---|---|
| Annual | $204,175 |
| Annual Per SF | $61.72 |
| Taxes | |
|---|---|
| Annual | $17,353 |
| Annual Per SF | $5.25 |
| Operating Expenses | |
|---|---|
| Annual | $32,755 |
| Annual Per SF | $9.90 |
| Total Expenses | |
|---|---|
| Annual | $50,108 |
| Annual Per SF | $15.15 |
| Net Operating Income | |
|---|---|
| Annual | $154,067 |
| Annual Per SF | $46.57 |
Property Facts
| Price | $2,300,000 | Apartment Style | Low Rise |
| Price Per Unit | $575,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 6.70% | Building Size | 3,308 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment |
| Price | $2,300,000 |
| Price Per Unit | $575,000 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 3,308 SF |
| No. Stories | 3 |
| Year Built | 1913 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 2+2 | 3 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Rider's Paradise (93)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 0069-0161 | Total Assessment | $2,041,430 (2023) |
| Land Assessment | $412,500 (2023) | Annual Taxes | $17,353 ($5.25/SF) |
| Improvements Assessment | $1,628,930 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
0069-0161
Land Assessment
$412,500 (2023)
Improvements Assessment
$1,628,930 (2023)
Total Assessment
$2,041,430 (2023)
Annual Taxes
$17,353 ($5.25/SF)
Tax Year
2024
zoning
| Zoning Code | RA-2 DC (Permits moderate to high-density rowhouses and apartments in Dupont Circle) |
| RA-2 DC (Permits moderate to high-density rowhouses and apartments in Dupont Circle) |
-
Jacob Krens -
Lorenzo Wooten -
Marcus & Millichap
1 of 5
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
2149 N St NW
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.