1604 19th St NW 4,340 SF Specialty Building Offered at $2,900,000 in Washington, DC 20009

Feldman Ruel is pleased to offer for sale 1604 19th Street NW, a short-term rental property comprising of eight Airbnb listings, located in the heart of Dupont Circle, one of Washington, D.C.’s most established and desirable neighborhoods. The subject property features a mix of two-1BR/1BA apartments, six-furnished rooms with private bathrooms and no kitchens, and conveys fully furnished and equipped, providing a turnkey investment opportunity. The property is professionally managed by leading short-term rental operator Sojourn, with all units marketed through Airbnb. Based on an average daily rate exceeding $200 and submarket occupancy averaging 85%, the property offers a projected gross income potential of approximately $576,000 annually. The current ownership operates under an active short-term rental license, which requires the property to be the owner’s primary residence — a condition that is currently satisfied. A purchaser may also explore alternative business models, including Bed and Breakfast use under a separate B&B license, which similarly requires primary residency, or the pursuit of a zoning variance to allow commercial lodging use. Significant recent capital improvements, including a full renovation of the first level (2019) and upgrades to the sublevel and roof (~2010), minimize near-term capital expenditures.
Comparable short-term rental opportunities in Dupont Circle are extremely limited, with a nearby sale at 1808 New Hampshire Avenue NW achieving $625,000 per key. In contrast, the subject property is being offered at just $406,250 per key — providing substantial value relative to the market. The subject property is exempt from D.C.’s rent control regulations and TOPA under its current short-term rental license, streamlining ongoing operations and future resale strategy.