4-Unit Multifamily with Off-Street
1239 MEIGS NE Washington, DC 20002
New
For Sale
$1,400,000
Four 1-bedroom units are fully vacant, with the building described as sound despite sustained fire damage and parking for up to 3–4 cars.
Days on Market7
Property Features for 1239 MEIGS NE
General Information
Standard status
Active
Property subtype
Investment
Building Details
Year Built
1940
Listing Agency:
Long & Foster Real Estate
(202) 445-0226
Listed By:
Wendy A Gadson
(202) 445-0226
Source:
Elliman
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 29 at 10:06AM
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 Long & Foster Real Estate
Investment Insights
Based on property information with market context.
This 4-unit multifamily property features four spacious 1-bedroom units that are fully vacant. The building has sustained fire damage but is described as sound. Off-street parking is available for up to 3–4 cars, making it useful for residents and renovation planning.
The property is located in Trinidad, with Union Market dining and shopping described as nearby. The area is also presented as convenient to local restaurants and grocery options, and to nearby universities. Metro access is described as nearby, with downtown DC and Capitol Hill reached in minutes.
The property is scored as very bikeable (BikeScore 87) and extremely walkable (WalkScore 94), with excellent transit (TransitScore 70). With all units vacant, the configuration allows flexibility to renovate on the owner’s timeline.
The property is located in Trinidad, with Union Market dining and shopping described as nearby. The area is also presented as convenient to local restaurants and grocery options, and to nearby universities. Metro access is described as nearby, with downtown DC and Capitol Hill reached in minutes.
The property is scored as very bikeable (BikeScore 87) and extremely walkable (WalkScore 94), with excellent transit (TransitScore 70). With all units vacant, the configuration allows flexibility to renovate on the owner’s timeline.
Key Highlights
- 4‑unit multifamily building (built 1940) with four spacious 1‑bedroom units
- All four units are fully vacant, offering flexibility for renovation timing
- Building is described as sound despite sustained fire damage
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 | $76.4k | $28.80 |
| − Vacancy | −$4.2k | −$1.58 |
| EGI | $72.2k | $27.22 |
| − OpEx | −$21.7k | −$8.16 |
| NOI | $50.5k | $19.05 |
2,652 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$721.8K
$631.6K – $842.1K
NOI $50,524 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$645.0K
$564.4K – $752.5K
NOI $45,150 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,846 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Four 1-bedroom units are fully vacant, with the building described as sound despite sustained fire damage and parking for up to 3–4 cars.
Where is this quadplex located?
The property is located at 1239 MEIGS NE Washington, DC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 4‑unit multifamily building (built 1940) with four spacious 1‑bedroom units; All four units are fully vacant, offering flexibility for renovation timing; Building is described as sound despite sustained fire damage
