515 Constitution Ave NE Washington, DC 20002

Listing Details

• Property Type: Multi-Family
• Property Sub Type: Quadruplex
• Structure Type: Interior Row/Townhouse
• Architectural Style: Victorian
• Ownership: Fee Simple
• New Construction: No
• Year Built: 1907
• Building Winterized: No
• Remarks Public: Rare opportunity to purchase a FULLY-TENANTED, pretty bayfront Victorian 4 unit property in PRIMO location steps to Stanton Park, Union Station Metro, Eastern Market, US Capitol Complex and everything the Hill has to offer. Walk Score of 92, Bike Score of 97. All 4 units offer tall ceilings, beautiful original mantels and tilework on decorative fireplaces, nice original doors and trim throughout, including the main hallway staircase banister and spindles. The upper 3 units have pretty pine floors, their living areas at front get good light from large bay windows, their updated kitchens have a single run of upper and lower cabinets w/formica countertops, bathrooms are updated and each includes a linen closet. The upper 2 units have quite large screened-in porches providing 3-season additional space to relax and unwind. On the main level unit that porch space has been enclosed w/windows and incorporated into the unit as an un-conditioned sun room, along w/private stairs to backyard. The spacious-feeling lower level studio unit is carpeted, has 8’ tall ceilings, a large walk-in closet, an updated bathroom, newer L-shaped open kitchen w/formica countertops, and direct access to the spacious shared fully-fenced backyard patio where tenants enjoy relaxing and entertaining, sheltered by a large tree. There is a gate for pedestrian access to the alley, making it easy for bikes/strollers. Well-maintained building: screened-in rear porches were recently re-built and re-supported; brickwork was repointed on sides and at rear; the main hallway was recently repainted and re-carpeted; and the newish metal roof was recoated in the past 5 years. There is a single boiler for heat to the building, a single 75 gallon water heater for the building. These systems are located in a separate space on lower level, accessed from outside the building through pedestrian gate to alley. Each unit has 1 window unit A/C that conveys w/sale. Each unit has its own electric meter and electricity is paid individually by each unit. Gas is paid by owner. The 3 1BR/1BA units on upper floors are each month to month w/longterm tenants, the lower level studio is also month-to-month. Subject to rent control, the 2023 annual rent was $72,223 and the 2024 monthly rent roll totals $6502 ($78,024 per year). TOPA notice will be given. This property has had VERY little turnover, 3 are long-term tenants. PROPERTY CONVEYS WITH TENANTS IN PLACE. Property offers possibilities for investor looking to take over a FULLY-TENANTED 4-unit property, or for a savvy owner-occupier who might wish to occupy one or more units for themselves and continue renting out the others. All prospective buyers are advised to run numbers w/a financial advisor knowledgeable about DC TOPA regarding 4 unit buildings, and see how this may work financially BEFORE attempting to see the property. To avoid unnecessarily inconveniencing tenants, seller is requiring proof of funds or lenders letter before scheduling all showings. Shown strictly by appointment during business hours, w/minimum 24 business hour advance notice. Initial showings are likely to be for just one of the 4 occupied units, arrangements to view other units would be made w/submission of an offer to purchase the property. TENANTS CONVEY WITH THE SALE OF THE PROPERTY. Note that sf figures are not to be used for valuation purposes. Thank you for reading this completely.
• Special Features: None

Interior Features

• Appliances: Disposal, Oven/Range - Electric, Oven/Range - Gas, Refrigerator, Water Heater
• Flooring Type: Wood, Carpet
• Interior Amenities: Carpet, Entry Level Bedroom, Flat, Studio, Bathroom - Tub Shower, Walk-In Closet(s), Wood Floors
• Fireplace: No
• Door Features: Six Panel
• Wall Ceiling Types: 9'+ Ceilings, Dry Wall, High, Plaster Walls
• Foundation Details: Permanent
• Basement: Yes
• Basement Type: Daylight, Partial, Front Entrance, Rear Entrance, Walkout Stairs, Windows
• Total Sq Ft: 3108
• Living Area Sq Ft: 2919
• Price Per Sq Ft: 514.80
• Above Grade Finished Sq Ft: 2331
• Below Grade Finished Sq Ft: 588
• Below Grade Sq Ft: 189
• Total Below Grade Sq Ft: 777
• Above Grade Finished Area Units: Square Feet
• Street Number Modifier: 515

Exterior Features

• Other Structures: Above Grade, Below Grade
• Construction Materials: Brick
• Exterior Features: Extensive Hardscape
• Roof: Metal
• Spa: No
• Water Access: No
• Waterfront: No
• Water Oriented: No
• Pool: No Pool
• Tidal Water: No
• Water View: No

Garage/Parking

• Garage: No
• Type Of Parking: On Street

Utilities

• Central Air Conditioning: No
• Cooling Fuel: Electric
• Cooling Type: Window Unit(s)
• Monthly Average Electric: 43
• Previous Twelve Months Electric Expense: 513.87
• Heating Fuel: Natural Gas
• Heating Type: Hot Water
• Heating: Yes
• Hot Water: Natural Gas, 60+ Gallon Tank
• Sewer/Septic System: Public Sewer
• Monthly Water Average: 250
• Water Previous Twelve Months: 3004.94
• Water Source: Public
• Municipal Trash: Yes

Schools

• School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
• School District Key: 121140357950
• School District Source: Listing Agent

Lot Info

• Lot Size Acres: 0.03
• Lot Size Units: Square Feet
• Lot Sq Ft: 1337.00
• Soil Types: Unknown
• Year Assessed: 2024
• Zoning: RESIDENTIAL
• In City Limits: Yes

Rental Info

• Existing Lease Type: Long Term, Month To Month
• Ground Rent Exists: No
• Number Of Units Month To Month: 4
• Rent Control: Yes
• Total Actual Rent: 78024.00
• Units Leased Count: 4
• Vacation Rental: No

Tax Info

• Tax Annual Amount: 13516.00
• Assessor Parcel Number: 0839//0042
• Tax Lot: 42
• Tax Total Finished Sq Ft: 2919
• Tax Data Updated: No
• Tax Year: 2024

Multi Family

• Other Units: Unit 1,Unit 2,Unit 4,Unit 3
• Single Room Units Count: 1

MLS Schools

• School District Name: DISTRICT OF COLUMBIA PUBLIC SCHOOLS