Gutted Brick Quadplex
1219 Simms Place Northeast Washington, DC 20002
1219 Simms Place Northeast, Washington, DC, 20002
$750,000
For Sale
$750,000
Gutted brick four-unit building with approved plans for a residential conversion on a deep lot with rear alley access.
Property Size2,812 SF
Lot Size0.09 Acres
Price / SF$266.71
Days on Market151
Property Features for 1219 Simms Place Northeast
General Information
- Standard status
- Active
- Size
- 2,812 SF
- Lot size
- 0.09 Acres
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1940
Listing agency
Coldwell Banker Realty - Washington
(202) 302-0437
Listed by
Bryce T Rowland · License #SP101278
(202) 302-0437
Source
Compass
Added: Feb 20 Updated: Jul 20 at 6:24PM Checked: Jul 21 at 6:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Washington
Investment Insights
Based on property information with market context.
This property is a brick quadplex project currently in a gutted condition and operating as a construction site. The sale includes fully approved architectural plans for a four-unit residential conversion, with the interior already cleared and ready for the next development phase. Some site preparation and structural finishing work remains before the project is build-ready.
The site includes rear alley access with room for multiple off-street parking spaces. The lot is described as deep, providing additional space that may support building expansion or rear amenity area development. The property is located in Washington, D.C. with RF-1 zoning noted as grandfathered/approved for a four-unit use.
Prospective buyers should exercise extreme caution when touring due to the current construction condition. The listing notes that closed-toe footwear is required, and that children and pets are not permitted on site.
The site includes rear alley access with room for multiple off-street parking spaces. The lot is described as deep, providing additional space that may support building expansion or rear amenity area development. The property is located in Washington, D.C. with RF-1 zoning noted as grandfathered/approved for a four-unit use.
Prospective buyers should exercise extreme caution when touring due to the current construction condition. The listing notes that closed-toe footwear is required, and that children and pets are not permitted on site.
Key Highlights
- Brick quadruplex built in 1940, sold gutted and ready for the next phase of development
- Fully approved architectural plans for a 4‑unit residential conversion
- Deep 3,723 sq. ft. lot (approx. 25' x 149') with potential for expansion or a rear amenity area
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.0k | $28.80 |
| − Vacancy | −$4.5k | −$1.58 |
| EGI | $76.5k | $27.22 |
| − OpEx | −$23.0k | −$8.16 |
| NOI | $53.6k | $19.05 |
2,812 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$765.3K
$669.7K – $892.9K
NOI $53,572 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$683.9K
$598.4K – $797.9K
NOI $47,873 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,629 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Gutted brick four-unit building with approved plans for a residential conversion on a deep lot with rear alley access.
Where is this quadplex located?
The property is located at 1219 Simms Place Northeast Washington, DC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Brick quadruplex built in 1940, sold gutted and ready for the next phase of development; Fully approved architectural plans for a 4‑unit residential conversion; Deep 3,723 sq. ft. lot (approx. 25' x 149') with potential for expansion or a rear amenity area
