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Property profile & analytics
FOR SALE
Apartment buildings
215 Constitution Ave NE Washington, DC 20002
Trust Owned
23-yr Hold
Absentee Owner
Property ID
US16-0063785
For Sale
1 / 11
$8,410,000
215 Constitution Ave NE, Washington, DC 20002
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Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1940
Construction
BRICK
Total area
30,997 SF
Lot
0.15 ac (6,706 SF)
Zoning code
RF-3
APN
0758 0011
UPID
US16-0063785
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.41M
Owner & transaction history
Lm Associates Trust
Lm Associates Trust
1 recorded transaction
Zoning & alternative use
RF-3 · Washington, DC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Washington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Washington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,795,000
6.5%
$8,120,000
7%
$7,540,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,780,000
Change: -12% · Conversion: Moderate
OFFICE BUILDING
$12,440,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$8.41M
Range $7.57M – $9.25M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$271 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$89,867
Tax year 2023
Assessed value
$10,509,850
Assessed 2023
Previous assessed
$10,509,850
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$1,978,270
Assessed improvement
$8,531,580
Land market value
$1,978,270
Improvement market value
$8,531,580
Total market value
$10,509,850
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1940
Construction
BRICK
Heating
NONE
Stories
6
Units
61
Total area
30,997 SF
Lot
0.15 ac (6,706 SF)
Zoning code
RF-3
APN
0758 0011
UPID
US16-0063785
Jurisdiction
DISTRICT OF COLUMBIA
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
RF-3 · Washington, DC
Zoning RF-3 · permitted uses
RF-3 · Washington, DC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Washington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$12.8M
OFFICE BUILDING
Est. value
$12.4M
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Construction
BRICK
Heating
NONE
Stories
6
Units
61
Lot
0.15 ac
Current owner
From public records · entity-resolved
Lm Associates Trust
Trust
Mailing address
301 CONSTITUTION AVE NE, WASHINGTON, DC 20002-5921
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Lm Associates Trust
—
Deed Of Trust
related
$2,300,000 · Sun Life Assurance Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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