Turnkey 4-Unit Residential Income
2241 40TH Place NW Washington, DC 20007
2241 40TH Place NW, Washington, DC, 20007
$1,797,000
For Sale
$1,797,000
Four fully updated 1-bedroom units in a well-maintained fourplex on a corner lot.
Property Size3,648 SF
Lot Size0.12 Acres
Price / SF$492.60
Days on Market49
Property Features for 2241 40TH Place NW
General Information
- Standard status
- Active
- Size
- 3,648 SF
- Lot size
- 0.12 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1933
Listing agency
Solutions Realty Group LLC
(703) 750-1450
Listed by
Ricardo S Bolanos · License #0225185191
Source
Deepcreeklake
Added: Jun 3 Updated: Jul 21 at 10:23AM Checked: Jul 21 at 10:23AM
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 Solutions Realty Group LLC
Investment Insights
Based on property information with market context.
This fully updated fourplex features four spacious 1-bedroom residences. Each unit has been modernized with renovated kitchens, refreshed baths, hardwood floors, and upgraded systems, all supported by efficient layouts designed to maximize livability. The building is described as exceptionally maintained, creating a low-maintenance option for an income-focused buyer.
The property is located at 2241 40TH Place NW in Washington, DC, on a 5,274 sq ft corner lot. The public remarks cite proximity to Wisconsin Ave, Stoddert Elementary, parks, retail, and transit.
Sale is subject to a 1031 Tax Exchange. The buyer is responsible for verifying any redevelopment possibilities referenced in the remarks.
The property is located at 2241 40TH Place NW in Washington, DC, on a 5,274 sq ft corner lot. The public remarks cite proximity to Wisconsin Ave, Stoddert Elementary, parks, retail, and transit.
Sale is subject to a 1031 Tax Exchange. The buyer is responsible for verifying any redevelopment possibilities referenced in the remarks.
Key Highlights
- 1933‑built, fully updated 4‑unit fourplex with four spacious 1‑bedroom residences
- Renovated kitchens and refreshed baths across all units, with hardwood floors and efficient layouts
- 5,274 sq ft corner lot
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 | $98.5k | $27.00 |
| − Vacancy | −$5.1k | −$1.40 |
| EGI | $93.4k | $25.60 |
| − OpEx | −$28.0k | −$7.68 |
| NOI | $65.4k | $17.92 |
3,648 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$933.7K
$817.0K – $1.09M
NOI $65,362 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$865.9K
$757.7K – $1.01M
NOI $60,613 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,349 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four fully updated 1-bedroom units in a well-maintained fourplex on a corner lot.
Where is this quadplex located?
The property is located at 2241 40TH Place NW Washington, DC.
What is the asking price?
The asking price for this property is $1,797,000.
What are key features of this property?
This property features: 1933‑built, fully updated 4‑unit fourplex with four spacious 1‑bedroom residences; Renovated kitchens and refreshed baths across all units, with hardwood floors and efficient layouts; 5,274 sq ft corner lot
