4-Unit Multifamily
New
For Sale
$995,000
1231 MEIGS Pl NE, Washington, DC 20002
All four residences have renovated kitchens, and the building has a new roof.
Property Size3,210 SF
Days on Market7
Property Features for 1231 MEIGS Pl NE
General Information
Standard status
Active
Size
3,210 SF
Property subtype
Investment
Site & Location
Neighborhood
Trinidad
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,393
Building Details
Building Size
3,210 SF
Year Built
1940
Buildings
1
Units
4
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Henry Cornelius White III
(301) 526-5659
Source:
Elliman
Added: Oct 23
Changed: Oct 26
Last Checked: Oct 28 at 8:15AM
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 TTR Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This four-unit multifamily property at 1231 Meigs Place NE was built in 1940. Each residence has a renovated kitchen, and the building has a new roof, providing two concrete updates to the property.
The building is in Northeast Washington’s Trinidad neighborhood, with access to the H Street Corridor, Union Market, Gallaudet University, restaurants, shops, and everyday amenities. Its scores are 71 for walkability, 66 for biking, and 62 for transit.
The building is in Northeast Washington’s Trinidad neighborhood, with access to the H Street Corridor, Union Market, Gallaudet University, restaurants, shops, and everyday amenities. Its scores are 71 for walkability, 66 for biking, and 62 for transit.
Key Highlights
- Four residential units
- Renovated kitchens in all four units
- New roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,154
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,223,080
$1.2M
Cap Rate 7%
$873,629
$873.6K
Cap Rate 9%
$679,489
$679.5K
Market Conditions
NOI Build-Up for 3,210 SF
Gross rent
$92.4K $28.80/SF
− Vacancy
−$5.1K −$1.58/SF
EGI
$87.4K $27.22/SF
− OpEx
−$26.2K −$8.16/SF
NOI
$61.2K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,223,080
Cap Rate 7%
$873,629
Cap Rate 9%
$679,489
Alternative Uses
Best Use
Multifamily LT 5
$873.6K
$764.4K – $1.02M
NOI $61,154 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$780.7K
$683.1K – $910.8K
NOI $54,649 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,013 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences have renovated kitchens, and the building has a new roof.
Where is this quadplex located?
The property is located at 1231 MEIGS Pl NE Washington, DC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four residential units; Renovated kitchens in all four units; New roof
