4-Unit Multifamily with Off-Street
For Sale
$1,400,000
1239 MEIGS PLACE NE, Washington, DC 20002
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.
Property Size2,652 SF
Days on Market77
Property Features for 1239 MEIGS PLACE NE
General Information
Standard status
Active
Size
2,652 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$36,293
Building Details
Building Size
2,652 SF
Year Built
1940
Tenancy
Multi
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Wendy A Gadson · License #SP101732
(202) 445-0226
Source:
Barnesrealestatecompany
Added: Jul 22
Changed: Oct 3
Last Checked: Oct 6 at 12:11AM
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, Inc.
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
Estimated NOI and Cap Rate
NOI / Yr
$50,524
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,010,480
$1.0M
Cap Rate 7%
$721,771
$721.8K
Cap Rate 9%
$561,378
$561.4K
Market Conditions
NOI Build-Up for 2,652 SF
Gross rent
$76.4K $28.80/SF
− Vacancy
−$4.2K −$1.58/SF
EGI
$72.2K $27.22/SF
− OpEx
−$21.7K −$8.16/SF
NOI
$50.5K $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%
$1,010,480
Cap Rate 7%
$721,771
Cap Rate 9%
$561,378
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
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Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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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 PLACE 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
