Turnkey Updated Fourplex with 1-Bed
2241 40TH Place NW Washington, DC 20007
2241 40TH Place NW, Washington, DC, 20007
$1,797,000
For Sale
$1,797,000
MULTI_FAMILY - Colonial - WASHINGTON, DC
Property Size3,648 SF
Lot Size0.12 Acres
Price / SF$492.60
Days on Market46
Property Features for 2241 40TH Place NW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Parking features
- Alley
- Standard status
- Active
- Size
- 3,648 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 15358
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1933
- Number of units
- 4
- Building materials
- Brick
- Architectural style
- Colonial
Listing Agency
Solutions Realty Group LLC
(703) 750-1450
5019 BACKLICK Road unit: Suite A&C, ANNANDALE, DC
Listed by
Ricardo S Bolanos · License #0225185191
(703) 750-1450
Added: Jun 5 Checked: Jul 20 at 12:06 pm
MLS# DCDC2265748
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully updated fourplex includes four spacious 1-bedroom residences. Each unit features renovated kitchens, refreshed bathrooms, hardwood floors, upgraded systems, and efficient layouts designed to support durable day-to-day livability and rentability. The property is described as exceptionally maintained, creating a low-maintenance operating profile for an owner from day one.
The building is situated on a 5,274 square foot corner lot at 2241 40TH Place NW in Washington, DC, within the Glover Park area. It is positioned close to Wisconsin Ave, Stoddert Elementary, parks, retail, and transit, with the asset’s setting highlighted for walkability.
For prospective buyers, this presents a practical option for those seeking a stabilized, well-kept multifamily asset, with the added note that the site may support future expansion, reconfiguration, or redevelopment depending on approvals. Sale is subject to a 1031 Tax Exchange, and buyers are encouraged to verify any redevelopment plans and related zoning considerations.
The building is situated on a 5,274 square foot corner lot at 2241 40TH Place NW in Washington, DC, within the Glover Park area. It is positioned close to Wisconsin Ave, Stoddert Elementary, parks, retail, and transit, with the asset’s setting highlighted for walkability.
For prospective buyers, this presents a practical option for those seeking a stabilized, well-kept multifamily asset, with the added note that the site may support future expansion, reconfiguration, or redevelopment depending on approvals. Sale is subject to a 1031 Tax Exchange, and buyers are encouraged to verify any redevelopment plans and related zoning considerations.
Key Highlights
- Fully updated 4‑unit multifamily building with four 1‑bedroom residences
- Renovated kitchens, refreshed baths, and hardwood floors in each unit
- Upgraded systems plus forced‑air heating and central air
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
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Fully updated 4-unit building with renovated interiors on a corner lot, suited for long-term residential income or owner-occupancy.
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: Fully updated 4‑unit multifamily building with four 1‑bedroom residences; Renovated kitchens, refreshed baths, and hardwood floors in each unit; Upgraded systems plus forced‑air heating and central air
