Detached Four-Unit Apartment
For Sale
$1,645,000
2241 40TH Place NW, Washington, DC 20007
Multi-Family, WASHINGTON, DC
Property Size3,648 SF
Lot Size0.12 Acres
Price / SF$450.93
Days on Market124
Property Features for 2241 40TH Place NW
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
Alley
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
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
Listed By:
Ricardo S Bolanos · License #0225185191
(703) 750-1450
Added: Jun 5
Changed: Sep 25
Last Checked: Oct 6 at 4:06AM
MLS# DCDC2265748
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 detached, brick apartment property contains four one-bedroom residences across 3,648 square feet. The apartments were renovated in 2014 and feature updated kitchens, refreshed bathrooms, hardwood flooring, and efficient layouts. Building improvements include a roof installed in 2024, forced-air heating, and central air conditioning. The property was built in 1933 and has alley parking features.
The 5,274-square-foot corner lot is in Washington, DC, near Wisconsin Avenue, Stoddert Elementary, parks, retail, and transit. The property is identified with a 0.1211-acre lot area.
The 5,274-square-foot corner lot is in Washington, DC, near Wisconsin Avenue, Stoddert Elementary, parks, retail, and transit. The property is identified with a 0.1211-acre lot area.
Key Highlights
- Four one‑bedroom apartments; all are vacant
- 3,648 square feet in a detached brick building
- Renovated in 2014; kitchens, bathrooms, and hardwood floors updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,362
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,307,240
$1.3M
Cap Rate 7%
$933,743
$933.7K
Cap Rate 9%
$726,244
$726.2K
Market Conditions
NOI Build-Up for 3,648 SF
Gross rent
$98.5K $27.00/SF
− Vacancy
−$5.1K −$1.40/SF
EGI
$93.4K $25.60/SF
− OpEx
−$28.0K −$7.68/SF
NOI
$65.4K $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 Rate 5%
$1,307,240
Cap Rate 7%
$933,743
Cap Rate 9%
$726,244
Alternative Uses
Best Use
Multifamily LT 5
$933.7K
$817.0K – $1.09M
NOI $65,362 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$865.9K
$757.7K – $1.01M
NOI $60,613 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,349 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
Explore this area
Business Placement
Demographics for 20007, DC
26,827
Population
13,583
Households
2
Avg Household Size
35
Median Age
87%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
8,654
Density / Sq Mi
$142,783
Median Household Income
$93,107
Median Earnings
$2,066
Median Rent
$1,202,900
Median Home Value
Check the figures for this property
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 - All four one-bedroom apartments are vacant, offering flexibility for occupancy and leasing.
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 $1,645,000.
What are key features of this property?
This property features: Four one‑bedroom apartments; all are vacant; 3,648 square feet in a detached brick building; Renovated in 2014; kitchens, bathrooms, and hardwood floors updated
