Renovated Residential Income
For Sale
$249,500
2440 16TH STREET NW Unit 416, Washington, DC 20009
Studio condominium unit with updated kitchen, bath, HVAC, storage, and access to building amenities.
Property Size417 SF
Days on Market48
Property Features for 2440 16TH STREET NW Unit 416
General Information
Standard status
Active
Size
417 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Reed-Cooke
Public Transit
Yes
Units
Unit Mix
1 x jr. bedroom studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,780
Amenities
on-site laundry
exercise room
secure package storage
controlled access
pet friendly
storage units
bike storage
Building Details
Building Size
417 SF
Year Built
1929
Listing Agency:
Continental Properties, Ltd.
Listed By:
Steven A Henry · License #BR98374241
(202) 210-8111
Source:
Kwcapitalproperties
Added: Sep 9
Changed: Oct 21
Last Checked: Oct 24 at 11:49PM
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 Continental Properties, Ltd.
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Investment Insights
Based on property information with market context.
Unit 416 at Park Tower Condominium is a renovated junior-bedroom studio with refinished hardwood flooring, a walk-in closet, and updated kitchen and bath finishes. The kitchen includes granite counters, tiled flooring, a new sink and faucet, and modern white cabinetry. The bathroom features designer tile, a Toto toilet, vanity, mirrored medicine cabinet, updated lighting, and newer hardware. A brand-new HVAC convector unit completes the interior improvements.
The 1929 building offers controlled entry through a ButterflyMX video intercom, laundry facilities on each floor, an exercise room, secure package storage, and pet-friendly policies allowing two pets per unit weighing 50 pounds or less. Harris Teeter is nearby, while Meridian Hill Park is across the street. The property also provides access to multiple Metro stations and nearby dining and retail, with convenient connections to Dupont Circle, Adams Morgan, U Street, and Columbia Heights.
The 1929 building offers controlled entry through a ButterflyMX video intercom, laundry facilities on each floor, an exercise room, secure package storage, and pet-friendly policies allowing two pets per unit weighing 50 pounds or less. Harris Teeter is nearby, while Meridian Hill Park is across the street. The property also provides access to multiple Metro stations and nearby dining and retail, with convenient connections to Dupont Circle, Adams Morgan, U Street, and Columbia Heights.
Key Highlights
- Renovated junior‑bedroom studio in Park Tower Condominium
- Updated kitchen with granite counters, tiled flooring, new fixtures, and modern cabinetry
- Fully renovated bathroom with designer tile and Toto toilet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,115
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$162,300
$162.3K
Cap Rate 7%
$115,929
$115.9K
Cap Rate 9%
$90,167
$90.2K
Market Conditions
NOI Build-Up for 417 SF
Gross rent
$15.7K $37.56/SF
− Vacancy
−$908 −$2.18/SF
EGI
$14.8K $35.38/SF
− OpEx
−$6.6K −$15.92/SF
NOI
$8.1K $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%
$162,300
Cap Rate 7%
$115,929
Cap Rate 9%
$90,167
Alternative Uses
Best Use
Apartment 5plus
$115.9K
$101.4K – $135.3K
NOI $8,115 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$214.5K
$187.7K – $250.2K
NOI $15,014 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
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 - Studio condominium unit with updated kitchen, bath, HVAC, storage, and access to building amenities.
Where is this residential income property located?
The property is located at 2440 16TH STREET NW Unit 416 Washington, DC.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: Renovated junior‑bedroom studio in Park Tower Condominium; Updated kitchen with granite counters, tiled flooring, new fixtures, and modern cabinetry; Fully renovated bathroom with designer tile and Toto toilet
