Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    631 CONSTITUTION Ave NE Washington, DC 20002

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,900,000

    Fully leased, renovated multifamily property in a premier location.

    Type:Investment
    Property size:
    930 SF
    Price / SF:
    $3,118/SF
    Added:
    Apr 24, 2026
    Days on Market:
    7
    Last Refresh:
    Apr 24 at 3:32 pm

    Property Features for 631 CONSTITUTION Ave NE

    General Information

    Standard status
    Active
    Size
    930 SF
    Property subtype
    Investment

    Building Details

    Year Built
    1903

    We can help!

    Listing Contact
    Joel S Nelson

    Listing agent Joel S Nelson License #SP98357766

    Listing office Keller Williams Capital Prop.

    Listing date Apr 24, 2026

    Source Elliman

    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 Keller Williams Capital Prop.

    Overview

    Income-Producing Multifamily in Capitol Hill

    This fully leased, income-producing multifamily property is located in a premier Capitol Hill location. The property consists of two buildings situated on one large lot, with a 3-car driveway separating them. The main building contains four large, two-level units, each measuring 930 square feet. An additional two units are located in a detached carriage house, bringing the total to six leased units. All units were renovated in 2019 and are currently 100% occupied and generating income. The property features three 2-bedroom units and two 3-bedroom units, plus an additional office rental, offering a diversified tenant mix. Well-maintained systems and thoughtful updates support stable, long-term performance. The location has a bike score of 99, indicating it is a biker's paradise, a walk score of 91, indicating it is a walker's paradise and a transit score of 88, indicating excellent transit.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Washington
    County
    District of Columbia
    State
    District of Columbia
    Longitude
    -76.9972581
    Latitude
    38.8918077

    Nearby Similar for Sale

    • $599,900

      Dental Office Near Dupont Circle

      Ideally located dental office condominium near Dupont Circle's amenities.
      1330 NEW HAMPSHIRE Avenue NW, WASHINGTON, DC 20036
      View Details
    • $365,000

      Unique Floating Home Opportunity

      60-foot yacht offering a unique waterfront living experience.
      650 WHARF Street SW, WASHINGTON, DC 20024
      View Details
    • $999,900

      Three-Unit Office Building For Sale

      Three-unit office building with flexible uses, for sale or lease.
      1235 PENNSYLVANIA Avenue SE, WASHINGTON, DC 20003
      View Details
    • $290,000

      Commercial/Industrial Unit in Washington, DC

      Commercial/Industrial unit for sale in a rapidly developing neighborhood.
      1812 H PL NE #B02, WASHINGTON, DC 20002
      View Details
    • $1,100,000

      Turnkey Restaurant/Bar Opportunity on Georgia Avenue

      Fully built-out restaurant/bar on Georgia Avenue in Northwest DC.
      5217 GEORGIA Avenue NW, WASHINGTON, DC 20011
      View Details
    • $655,000
      2,800 SF

      Three-Unit Property with Assumable Loan

      Three-unit property with assumable FHA loan at 2.375% interest.
      16 GALVESTON Place SW, WASHINGTON, DC 20032
      View Details
    • $1,550,000
      1,920 SF

      Renovated Commercial Building on H Street

      Two-unit commercial building in the H Street Corridor.
      521 H Street NE, WASHINGTON, DC 20002
      View Details
    • $1,550,000

      Renovated Commercial Building on H Street

      Two-unit commercial building in the heart of H Street Corridor.
      521 H Street NE, WASHINGTON, DC 20002
      View Details
    • $579,000
      2,720 SF

      Turnkey 4-Unit Building in DC

      Vacant, updated 4-unit building in Washington, DC.
      1608 17TH Place SE, WASHINGTON, DC 20020
      View Details
    • $699,000
      3,280 SF

      Fort Dupont Multi-Family Opportunity

      Versatile 4-plex in Fort Dupont with income potential.
      324 34TH Street SE, WASHINGTON, DC 20019
      View Details
    • $899,000
      2,964 SF

      Anacostia Multifamily Investment Opportunity

      Four-unit property with income potential in Washington, DC.
      2335 GREEN Street SE, WASHINGTON, DC 20020
      View Details
    • $500,000
      3,228 SF

      Partially Completed Multifamily Building

      Four-unit building with permits, partially completed, great investment opportunity.
      1223 18TH Place NE, WASHINGTON, DC 20002
      View Details

    FAQs

    What type of property is this?
    Apartment building - Fully leased, renovated multifamily property in a premier location.
    Where is this apartment building located?
    The property is located at 631 CONSTITUTION Ave NE Washington, DC.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: Fully leased, income‑producing multi‑family property.; Assumable 5% loan.; Premier Capitol Hill location.
    (202) 243-7707
    We can help!
    Listing Contact
    Joel S Nelson
    Real Estate License ID: SP98357766
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!