Approved Four-Unit Conversion
2023 11TH St NW, Washington, DC 20001
ARTS-2 zoned property approved for a four-unit condo conversion.
Type:Investment
Property size:
5,200 SFPrice / SF:
$240/SF- Added:
- Apr 24, 2026
- Days on Market:
- 38
- Last Refresh:
- Apr 24 at 3:33 pm
Property Features for 2023 11TH St NW
General Information
- Standard status
- Active
- Size
- 5,200 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1905
Listing agent Wan C Li (202) 361-8384
Listing office Fairfax Realty Select (202) 361-8384
Listing date Apr 24, 2026
Source Elliman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Fairfax Realty Select
HighLights
- Approved 4‑unit condo conversion with included permits and plans.
- Boasting 5,200 sq ft of potential living space in a high‑demand location.
- ARTS‑2 zoning ideal for condo development.
- Currently configured as a 2‑unit home with separate metering.
- Includes 2‑car off‑street parking and a deep backyard.
- Excellent walk, bike, and transit scores (85, 84, 82 respectively).
Overview
This ARTS-2 zoned property is approved for a four-unit condo conversion, offering a significant head start with included permits and plans. The existing structure is a spacious two-unit home. The upper level features three bedrooms and two bathrooms. The walk-out basement provides flexibility with one bedroom and one bathroom, along with front and rear entrances. The property includes separate metering, a deep backyard, and two-car off-street parking. With a bike score of 84, walk score of 85, and transit score of 82, the location is very bikeable, very walkable and has excellent transit. The property offers over 5,000 square feet of future living space.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $140.4k | $27.00 |
| − Vacancy | −$7.3k | −$1.40 |
| EGI | $133.1k | $25.60 |
| − OpEx | −$39.9k | −$7.68 |
| NOI | $93.2k | $17.92 |
5,200 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $93,169 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,401 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $187,230 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Washington
- County
- District of Columbia
- State
- District of Columbia
- Longitude
- -77.0267893
- Latitude
- 38.917677
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - ARTS-2 zoned property approved for a four-unit condo conversion.
Where is this quadplex located?
The property is located at 2023 11TH St NW Washington, DC.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Approved 4‑unit condo conversion with included permits and plans.; Boasting 5,200 sq ft of potential living space in a high‑demand location.; ARTS‑2 zoning ideal for condo development.
