2139 Newport Place NW
Multifamily | 4 Units | 2,300 SF
Marketing description
Horvath & Tremblay is pleased to exclusively present the opportunity to acquire 2139 Newport Place NW, a four-unit apartment building ideally situated at the convergence of Dupont Circle and the West End, two of Washington, DC's most prestigious and sought-after neighborhoods. The Property consists of four one-bedroom apartments of identical layout, two of which will be vacant as of July 27th, providing in-place income while offering additional upside through the lease-up of the vacant units and future value-add opportunities.
The Property presents a compelling opportunity for both investors and owner-occupants. A purchaser can immediately occupy either of the vacant apartments while generating while generating rental income from the remaining three units or lease the units to maximize cash flow from day one. Supported by exceptional neighborhood demographics, a highly walkable location, and recent favorable regulatory changes benefiting smaller multifamily properties, 2139 Newport Place NW offers a rare opportunity to acquire a boutique apartment asset in one of the District's most resilient rental markets.
Investment highlights
VALUE-ADD OPPORTUNITY
Two of the four apartments are currently vacant, creating immediate flexibility for both investors and owner-occupants. If they own four or less units in the District, investors can lease the units at current market rates while implementing strategic interior renovations over time to further increase rental income. As illustrated by the comparable rentals included in this Offering Memorandum, renovated one-bedroom apartments of similar size in the neighborhood are achieving rents of up to $2,800 per month, providing a clear path to immediate revenue growth.
RENT CONTROL EXEMPTION POTENTIAL
Ownership of a residential property containing four or fewer units may qualify for an exemption from the District's Rent Control regulations. This allows owners to renovate apartments and lease them at prevailing market rents without the restrictions applicable to larger multifamily assets, enhancing long-term revenue potential.
ATTRACTIVE UNIT FEATURES / SELF-CONTAINED UNITS
Each apartment is equipped with central air conditioning, in-unit washer and dryer, dishwasher, and separately metered all-electric service. The two ground level units have outdoor patios in the rear of the building. Tenants are responsible for their individual electric usage, leaving ownership responsible only for water service and contributing to an efficient, low-maintenance operating expense structure.
TOPA EXEMPT
The District of Columbia's RENTAL Amendment Act of 2025, effective January 2026, exempts most four-unit residential properties from the Tenant Opportunity to Purchase Act (TOPA). This significant legislative change reduces transaction uncertainty, eliminates many of the delays historically associated with TOPA, and provides buyers with greater certainty and more predictable closing timelines.
STRONG DEMOGRAPHICS & COVETED RESIDENTIAL LOCATION
2139 Newport Place NW is a 5-minute walk (0.3 miles) to the Dupont Circle Metro station, providing convenient access to Downtown Washington, Capitol Hill, and Northern Virginia. Residents enjoy immediate access to an extensive collection of neighborhood amenities, including Whole Foods Market, Trader Joe's, Tatte Bakery & Cafe, Sweetgreen, Equinox, CVS, Walgreens, and numerous restaurants and neighborhood retailers.
The Property is also a 10-minute walk (0.5 miles) of George Washington University and is surrounded by many of Washington's diplomatic missions, including the Embassies of Australia, Greece, Indonesia, Jamaica, the Philippines, and Tunisia. Combined with the neighborhood's high household incomes, exceptional walkability, and limited multifamily inventory, these factors continue to support strong renter demand and long-term investment fundamentals.
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