2139 Newport Pl Nw, Washington, DC 20037

Property Description

2139 Newport Place NW is a four-unit apartment building located less than a six-minute walk from George Washington University and Dupont Circle. The Property consists of four one-bedroom apartments of similar layout, two of which are vacant, providing in-place income while offering additional upside through the lease-up of the vacant units and future value-add opportunities. 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).