1017 17th Place NE Washington, DC 20002
Listing Courtesy of: BRIGHT IDX / Coldwell Banker Realty / ALVIN "Alvin" RICE

  1017 17th Place NE Washington, DC 20002

Pending (16 Days)
$997,500

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); $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.

MLS #:
DCDC2129360
Taxes
$7,600(2024)
Lot Size
3,744 SQFT
Type
Multifamily
Year Built
1936
Style
Other
School District
District of Columbia Public Schools

Listed By

ALVIN "Alvin" RICE, Coldwell Banker Realty
Source
BRIGHT IDX
Last checked Nov 11 2024 at 11:26 AM GMT+0000
Bathroom Details
Property Features
  • Below Grade
  • Above Grade
  • Foundation: Brick/Mortar
Heating and Cooling
  • Forced Air
  • None
Exterior Features
  • Brick
  • Stone
Utility Information
  • Sewer: Public Sewer
  • Fuel: Natural Gas
Living Area
  • 2,810 sqft
Location
   
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Disclaimer: Copyright 2024 Bright MLS IDX. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is 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. Data last updated 11/11/24 03:26