1017 17th Place Ne
Washington,
DC
20002
Property Details
List Price: |
$997,500 |
Beds: |
-- |
Baths: |
-- |
Status: |
Pending |
SqFt: |
2810 |
Agency: |
Coldwell Banker Residential Brokerage |
Description/Comments
Lot Size: |
-- |
Property Type: |
MultiFamily |
Year Built: |
1936 |
Notes: |
***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. |
MlsNumber: |
DCDC2129360 |
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Listing Provided By: |
Coldwell Banker Residential Brokerage, original listing |
Name: |
Coldwell Banker Residential Brokerage |
Phone: |
(410) 224-2200 |
Office Name: |
Coldwell Banker Realty - Washington |
Office Phone: |
(202) 387-6180 |
Agent Name: |
Al Rice |
Disclaimer: |
Copyright © 2024 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |