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1017 17TH Place NE

WASHINGTON, DC 20002
  • $997,500
  • STATUS: Active Under Contract
  • ON SITE: 76 Days
  • ID#: DCDC2129360
Under Contract
UPDATED: 93 min ago
$997,500
  • 0
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,810
    SQFT
  • $355
    $/SQFT
Type:
Multi-Family
Built:
1936
County:

School Ratings & Info

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.

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Bic DeCaro & Associates | eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-05-23T19:52:55.49.
www.bicdecaro.com/homes/148353390
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1017 17TH Place NE WASHINGTON, DC 20002

  • Price: $997,500
  • Status: Active Under Contract
  • On Site: 76 Days
  • Updated: 93 min ago
  • ID#: DCDC2129360
0
Beds
0
Baths
0
½ Baths
0.09
Acres
2,810
SQFT
$355
$/SQFT
1936
Built
County:
Washington
School District:
District Of Columbia Public Schools
Property 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.
Exterior Features

Architectural Style Other Construction Materials BrickStone Garage YN No Parking Types On Street Pool No Pool Soil Types Unknown Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 2810 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling None Heating Forced Air Heating YN Yes Single Room Units 0 Three Bedroom Units 0 Two Bedroom Units 0 Units Furnished None

Property Features

Accessibility Features None Central Air YN No Cooling Fuel Electric Cross Street K Street NE Foundation Details Brick/Mortar Heating Fuel Natural Gas Hot Water Natural Gas Navigable Water YN N New Construction YN No Number Of Units Total 4 Number Of Units Vacant 3 Original MLSNumber 802877907378 Ownership Interest Fee Simple Property Sub Type Quadruplex Sale Type Standard Sewer Public Sewer Structure Design Type Twin/Semi-Detached Tax Annual Amount 7600.00 Vacation Rental YN No Water Source Public Year Built Effective 2000 Zoning RA-2

Listing courtesy of Coldwell Banker Realty - Washington: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Bic DeCaro & Associates | eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-05-23T19:52:55.49.
 
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20130 Lakeview Center Plaza, Suite 400
Ashburn VA, 20147