$997,500 $5,355 est/mo Sourced by Back At You

1017 17th Pl NE,Washington, DC 20002

Washington DC, 20002

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Description

***EXCELLENT OPPORTUNITY FOR DEVELOPER*** Welcome to 1017 17th Place NE a multiple unit apartment building located in the subdivision of Trinidad/Langston Carver, Washington DC. Each unit offers 1 bedroom/1 bath with extended bump out. Excellent opportunity for a multiple unit condo conversion. Lot size: 3,744 s/f; Zoning RA-2; NO PLANS OR PERMITS. Very deep rear yard. Parking up to 3-4 vehicles. Projected Condo Project: 8 units = (8) 2-bdrm at 1,074 s/f each ($483 s/f), Total s/f = 8,598; ARV = $4,152,834. Projected Construction Cost: Acquisition Cost $997,500; Construction Cost: $1,418,670 ($165+ per s/f x 8,598 s/f of living area); Paid Commissions (5%): $207 642; Carrying Cost at 8%: $302,240 (18 months); Plans & Permits: $50,000; Legal Fees: $10,000; Total Acquisition & Construction Cost: $3,038,552; Profit: $1,114,552; ROR: 36.6%; Very HOT area for new development. 3 UNITS are vacant. Unit #4 is occupied. PLEASE NOT DISTURB TENANT. PROPERTY WILL CONVEY VACANT.

Details

MLS#DCDC2129360
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive Under Contract
Year1936
Days On Site135
Listing Provided ByColdwell Banker Realty - Washington | Alvin D Rice
Buying Commision2.25% Of Gross

Features

SQ Feet2,810
Units3
ZoningRA-2
Acreage0.09

Market Activity 20002

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Learn More About This Property

StateDC
CountyWashington
CityWashington
Zip Code20002
School DistrictDistrict Of Columbia Public Scho
Listing VS Median (in 20002)
Price:
$997,500
low | high
Med:
$610,000
88.847117794486% of Average
SqFt:
2,810
low | high
Med:
1,661
90.889679715302% of Average
$ / SqFt:
$355
low | high
Med:
$417
32.569524652909% of Average
On Site:
135
low | high
Med:
179.000000
75.418994413408% of Average
Sourced by Back At You
Listing Updated: July 2, 2024 at 10:01:35 AM PDT