Residential Income Property with
For Sale
$425,000
2939 VAN NESS STREET NW Unit 106, Washington, DC 20008
A two-bedroom condominium combines updated interior finishes with dedicated parking, private storage, and extensive shared amenities.
Property Size1,071 SF
Price / SF$396.83
Days on Market73
Property Features for 2939 VAN NESS STREET NW Unit 106
General Information
Standard status
Active
Size
1,071 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Northwest
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,934
Amenities
swimming pools
gym/fitness center
24-hour concierge
bicycle storage
laundry facilities
library
Building Details
Building Size
1,071 SF
Year Built
1964
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Stephen Gabauer · License #SP200205169
(202) 400-1041
Source:
Canopy-re
Added: Aug 18
Changed: Oct 26
Last Checked: Oct 26 at 1:42PM
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 CENTURY 21 New Millennium
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Investment Insights
Based on property information with market context.
This 1,071-square-foot condominium contains two bedrooms and two full bathrooms. Interior details include refinished hardwood flooring, living-room shelving, and expansive windows. The renovated kitchen has quartz countertops, custom cabinetry, stainless steel appliances, and gas cooking. A 34' x 14' fenced patio extends the private space outdoors. The primary suite has an updated closet and an en-suite bath; the second full bathroom has also been renovated. The unit was built in 1964 and includes a dedicated parking space and private storage.
Shared building amenities include two swimming pools, a fitness center, elevator, 24-hour concierge, bicycle storage, laundry facilities, a library, and common areas. Van Ness-UDC Metro is steps away, with restaurants, shops, cafes, UDC, American University, and Rock Creek Park also identified nearby. The property is in the Hearst Elementary, Alice Deal Middle, and Jackson-Reed High School cluster.
Shared building amenities include two swimming pools, a fitness center, elevator, 24-hour concierge, bicycle storage, laundry facilities, a library, and common areas. Van Ness-UDC Metro is steps away, with restaurants, shops, cafes, UDC, American University, and Rock Creek Park also identified nearby. The property is in the Hearst Elementary, Alice Deal Middle, and Jackson-Reed High School cluster.
Key Highlights
- 1,071‑square‑foot condominium with two bedrooms and two full bathrooms
- Private fenced patio measures 34' x 14'
- Renovated kitchen with quartz counters, custom cabinetry, stainless steel appliances, and gas cooking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,795
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,900
$355.9K
Cap Rate 7%
$254,214
$254.2K
Cap Rate 9%
$197,722
$197.7K
Market Conditions
NOI Build-Up for 1,071 SF
Gross rent
$34.1K $31.80/SF
− Vacancy
−$1.7K −$1.59/SF
EGI
$32.4K $30.21/SF
− OpEx
−$14.6K −$13.59/SF
NOI
$17.8K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,900
Cap Rate 7%
$254,214
Cap Rate 9%
$197,722
Alternative Uses
Best Use
Apartment 5plus
$254.2K
$222.4K – $296.6K
NOI $17,795 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$550.9K
$482.0K – $642.7K
NOI $38,562 @ 7.0% cap · market cap 9.07%
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
1,033
Businesses Nearby
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Business Placement
Demographics for 20008, DC
30,143
Population
18,083
Households
1.7
Avg Household Size
38
Median Age
89%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
9,724
Density / Sq Mi
$123,653
Median Household Income
$87,607
Median Earnings
$2,202
Median Rent
$894,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom condominium combines updated interior finishes with dedicated parking, private storage, and extensive shared amenities.
Where is this residential income property located?
The property is located at 2939 VAN NESS STREET NW Unit 106 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: 1,071‑square‑foot condominium with two bedrooms and two full bathrooms; Private fenced patio measures 34' x 14'; Renovated kitchen with quartz counters, custom cabinetry, stainless steel appliances, and gas cooking
