515 CONSTITUTION NE Washington, DC 20002
UPDATED:
08/14/2024 07:31 AM
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 2,919 sqft
Price per Sqft $411
Subdivision Capitol Hill
MLS Listing ID DCDC2146612
Style Victorian
Abv Grd Liv Area 2,331
Originating Board BRIGHT
Year Built 1907
Annual Tax Amount $13,095
Tax Year 2023
Lot Size 1,337 Sqft
Acres 0.03
Property Description
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, the lease on the lower level studio unit ends 12/31/24. 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 units, arrangements to view other units would be made w/submission of an offer to purchase the property. Tenants convey w/sale of property. Note that sf figures are not to be used for valuation purposes.
Location
State DC
County Washington
Zoning RESIDENTIAL
Rooms
Basement Daylight, Partial, Front Entrance, Rear Entrance, Walkout Stairs, Windows
Interior
Interior Features Carpet, Entry Level Bedroom, Flat, Studio, Tub Shower, Walk-in Closet(s), Wood Floors
Hot Water Natural Gas, 60+ Gallon Tank
Heating Hot Water
Cooling Window Unit(s)
Flooring Wood, Carpet
Equipment Disposal, Oven/Range - Electric, Oven/Range - Gas, Refrigerator, Water Heater
Fireplace N
Appliance Disposal, Oven/Range - Electric, Oven/Range - Gas, Refrigerator, Water Heater
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Roof Type Metal
Accessibility None
Parking Type On Street
Garage N
Building
Foundation Permanent
Sewer Public Sewer
Water Public
Architectural Style Victorian
Additional Building Above Grade, Below Grade
Structure Type 9'+ Ceilings,Dry Wall,High,Plaster Walls
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 0839//0042
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Other
Listing Terms Cash, Other
Financing Cash,Other
Special Listing Condition Standard
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