Renovated Trinidad Four-Unit
For Sale
$1,795,000
Pending
1274 Meigs Place Northeast, Washington, DC 20002
Fully renovated four-unit building in vibrant Trinidad neighborhood.
Property Size3,210 SF
Days on Market466
Property Features for 1274 Meigs Place Northeast
General Information
Standard status
Pending
Size
3,210 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
RF-1
Taxes and HOA fees
Annual Taxes
$5,458
Amenities
No
Built-In Microwave, Dishwasher, Disposal, Exhaust Fan, Refrigerator, Stainless Steel Appliances, Stove, Washer/Dryer Hookups Only
Breakfast Area, Combination Dining/Living, Combination Kitchen/Dining, Crown Moldings, Floor Plan - Open, Kitchen - Gourmet, Kitchen - Island, Primary Bath(s), Recessed Lighting, Skylight(s)
No Pool
Building Details
Year Built
1940
Listing Agency:
Compass
(240) 793-5563
Listed By:
Nikki Cooper · License #523834
(240) 793-5563
Source:
Compass
Added: May 16, 2025
Changed: Aug 23
Last Checked: Jul 24 at 12:14PM
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 Compass
Investment Insights
Based on property information with market context.
Located in the Trinidad neighborhood, 1274 Meigs Pl. NE is a fully renovated four-unit building. This turnkey property features two 2-bedroom units and two 3-bedroom units, offering rental potential. Three of the units are occupied, with two 3-bedroom units renting for $5,000 per month each, and one 2-bedroom unit renting for $2,987. Each unit is updated with modern finishes and all-electric systems. The property includes street parking and two private parking spaces at the rear. The building is located minutes from Union Market, H Street Corridor, shopping, dining, and local spots. DC Housing may provide up to $15,974 for a fully leased building. This property offers a blend of location, lifestyle, and opportunity.
Key Highlights
- Fully renovated 4‑unit building in the vibrant Trinidad neighborhood.
- Strong rental income potential with a mix of two 2‑bedroom and two 3‑bedroom units.
- Three units are currently leased with a total monthly income of $7,987.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,154
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 3.41%
Second Best
Apartment 5plus
$780.7K
$683.1K – $910.8K
NOI $54,649 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,013 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,695
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully renovated four-unit building in vibrant Trinidad neighborhood.
Where is this quadplex located?
The property is located at 1274 Meigs Place Northeast Washington, DC.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Fully renovated 4‑unit building in the vibrant Trinidad neighborhood.; Strong rental income potential with a mix of two 2‑bedroom and two 3‑bedroom units.; Three units are currently leased with a total monthly income of $7,987.
