Welcome to 1738 1st Street NW! This elegantly renovated four-level bayfront Victorian in the heart of the Bloomingdale Historic District offers an exceptional opportunity that is perfect for the investment-minded buyer. This impressive home features a massive upper unit with a flexible four-bedroom layout, ideal for multi-tenant rental. The expansive attic adds tremendous potential, serving as a versatile space for a music/art studio, study, office, or playroom. With high ceilings, a turning staircase, carved mantels, chandeliers, and wood shutters, this home retains its authentic charm while incorporating modern updates like modern HVAC systems, a gas fireplace, ample storage, and full-sized washer/dryers in both units. The separate 1-BR English basement apartment, currently rented to reliable tenants eager to stay, provides dependable rental income. This unit has a sprinkler system and is a fantastic value-add in this highly sought-after neighborhood. Enjoy a private, fenced outdoor space, plus easy access to parks and vibrant local amenities such as Union Market, Trader Joes, Metro stations, and the upcoming Reservoir District development. The home is steps from award-winning dining at The Red Hen and Big Bear Caf, Yoga District, and the Sunday Farmers Market, with a walkability score of 91. For those interested in potential improvements, there are estimates for adding a bathroom upstairs and architectural drawings for further updates. In-person basement viewings are limited to respect tenant privacy and will be scheduled for serious inquiries only. This home offers a rare chance to invest in a thriving, dynamic community as Bloomingdale continues to grow.