Politico reported that the 8,200-square-foot mansion sits on a quarter of an acre of land. The house, which was built in 1928, has nine bedrooms and eight-and-a-half bathrooms. It also has a two-car garage and a gated courtyard for eight to 10 vehicles.
President Obama and Michelle Obama will lease the property.
Joe Lockhart, White House press secretary for President Bill Clinton, and Giovanna Gray Lockhart own the home, which was purchased in May 2014 for $5.3 million.
Lockhart moved in February to Manhattan to become executive vice-president of communications for the National Football League, and Gray will handle special projects for Glamour magazine.
The Obamas will live in Washington until Sasha, the couple’s youngest daughter, graduates from high school.
President Obama is the first president in 100 years to remain in Washington, following his tenure in office. Woodrow Wilson stayed in Washington when his term ended in 1921.