Four-Unit Apartment
For Sale
$1,400,000
2139 NEWPORT PLACE NW, Washington, DC 20037
Four one-bedroom units feature central air, in-unit washer/dryer, and separately metered all-electric service.
Property Size2,300 SF
Price / SF$608.70
Days on Market87
Property Features for 2139 NEWPORT PLACE NW
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Amenities
central air conditioning
in-unit washer and dryer
dishwasher
separately metered all-electric service
outdoor patios
Building Details
Year Built
1900
Listing Agency:
Horvath & Tremblay MD, LLC
(781) 776-4000
Listed By:
Christian Barreiro · License #SP98373426
(202) 534-3003
Source:
Cummingsrealtors
Added: Jun 16
Changed: Sep 9
Last Checked: Sep 10 at 7:14AM
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 Horvath & Tremblay MD, LLC
Investment Insights
Based on property information with market context.
This four-unit apartment building includes four one-bedroom apartments with similar layouts. Each unit is equipped with central air conditioning, in-unit washer and dryer, and a dishwasher, along with separately metered all-electric service. Two ground level units include rear outdoor patios. Tenants are responsible for their own electric usage, while the owner is responsible for water service.
As of July 27th, two units are expected to be vacant, supporting in-place income while allowing for potential lease-up of the remaining apartments. The property is located within walking distance of Dupont Circle Metro and George Washington University.
The building’s configuration and the presence of unit-level amenities and separate metering are designed to support efficient day-to-day operation.
As of July 27th, two units are expected to be vacant, supporting in-place income while allowing for potential lease-up of the remaining apartments. The property is located within walking distance of Dupont Circle Metro and George Washington University.
The building’s configuration and the presence of unit-level amenities and separate metering are designed to support efficient day-to-day operation.
Key Highlights
- 4‑unit apartment building with four 1‑bedroom apartments (Year built: 1900)
- Each unit has central air, in‑unit washer/dryer, and a dishwasher
- Separately metered all‑electric service for each apartment; tenants pay electric, owner pays water
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,210
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$824,200
$824.2K
Cap Rate 7%
$588,714
$588.7K
Cap Rate 9%
$457,889
$457.9K
Market Conditions
NOI Build-Up for 2,300 SF
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.
Gross rent
$62.1K $27.00/SF
− Vacancy
−$3.2K −$1.40/SF
EGI
$58.9K $25.60/SF
− OpEx
−$17.7K −$7.68/SF
NOI
$41.2K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$824,200
Cap Rate 7%
$588,714
Cap Rate 9%
$457,889
Alternative Uses
Best Use
Multifamily LT 5
$588.7K
$515.1K – $686.8K
NOI $41,210 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$545.9K
$477.7K – $636.9K
NOI $38,216 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,813 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
22,498
Businesses Nearby
Explore this area
Business Placement
Demographics for 20037, DC
14,945
Population
8,828
Households
1.7
Avg Household Size
29
Median Age
90%
College-Educated
99%
High-School Grad
0.7 sq mi
ZIP Area
21,350
Density / Sq Mi
$98,917
Median Household Income
$69,480
Median Earnings
$2,420
Median Rent
$743,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom units feature central air, in-unit washer/dryer, and separately metered all-electric service.
Where is this quadplex located?
The property is located at 2139 NEWPORT PLACE NW Washington, DC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 4‑unit apartment building with four 1‑bedroom apartments (Year built: 1900); Each unit has central air, in‑unit washer/dryer, and a dishwasher; Separately metered all‑electric service for each apartment; tenants pay electric, owner pays water
