Two-Level Residential Income
For Sale
$425,000
2440 16TH STREET NW Unit 104, Washington, DC 20009
A redesigned condo pairs original architectural character with updated finishes and the convenience of in-unit laundry.
Property Size629 SF
Days on Market10
Property Features for 2440 16TH STREET NW Unit 104
General Information
Standard status
Active
Size
629 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Reed-Cooke
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,349
Amenities
hardwood floors
curved accent wall
custom lighting
retractable projector screen
marble countertops
stainless steel appliances
warm wood cabinetry
open shelving
tile backsplash
wine refrigerator
fireplace
walk-in closet with custom storage
walk-in shower
in-unit washer/dryer
new HVAC
fitness center
common laundry facilities
storage lockers
Building Details
Building Size
629 SF
Year Built
1929
Year Renovated
2021
Construction
Art Deco
Listing Agency:
Samson Properties
Listed By:
Samuel Chase Medvene · License #SP98379587
(703) 314-5833
Source:
Kwcapitalproperties
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 28 at 2:49PM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This two-level condo in Park Tower combines original Art Deco character with a substantial interior redesign completed in 2021. The main floor has hardwood flooring, a curved accent wall, custom lighting, and a retractable 104-inch projector screen. Its kitchen includes marble counters, stainless steel appliances, wood cabinetry, open shelving, and a wine refrigerator. Downstairs, the bedroom has a fireplace and a walk-in closet with custom storage; the renovated bathroom features a walk-in shower. An in-unit washer and dryer and an HVAC system installed in 2026 are also included.
Built in 1929, Park Tower has a lobby, ButterflyMX building entry, Luxer package management, an on-site fitness center, shared laundry facilities, and storage lockers available for rent. Meridian Hill Park is directly across the street. Restaurants, coffee shops, and nightlife in Adams Morgan, U Street, and Dupont Circle are also noted nearby.
Built in 1929, Park Tower has a lobby, ButterflyMX building entry, Luxer package management, an on-site fitness center, shared laundry facilities, and storage lockers available for rent. Meridian Hill Park is directly across the street. Restaurants, coffee shops, and nightlife in Adams Morgan, U Street, and Dupont Circle are also noted nearby.
Key Highlights
- Two levels of living space in Park Tower, built in 1929
- Interior redesign completed in 2021
- Retractable 104‑inch projector screen in the main living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,240
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,800
$244.8K
Cap Rate 7%
$174,857
$174.9K
Cap Rate 9%
$136,000
$136.0K
Market Conditions
NOI Build-Up for 629 SF
Gross rent
$23.6K $37.56/SF
− Vacancy
−$1.4K −$2.18/SF
EGI
$22.3K $35.38/SF
− OpEx
−$10.0K −$15.92/SF
NOI
$12.2K $19.46/SF
Area
ZIP 20009
Vacancy
5.80%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,800
Cap Rate 7%
$174,857
Cap Rate 9%
$136,000
Alternative Uses
Best Use
Apartment 5plus
$174.9K
$153.0K – $204.0K
NOI $12,240 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$323.5K
$283.1K – $377.5K
NOI $22,648 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,109
Businesses Nearby
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Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A redesigned condo pairs original architectural character with updated finishes and the convenience of in-unit laundry.
Where is this residential income property located?
The property is located at 2440 16TH STREET NW Unit 104 Washington, DC.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two levels of living space in Park Tower, built in 1929; Interior redesign completed in 2021; Retractable 104‑inch projector screen in the main living area
