1938 I Street NE
Washington, DC 20002
- – beds
- – baths
- 2,368 sqft
- 2,432 sqft lot
- $548 per sqft
- 1942 build
Discover a prime condo conversion development opportunity in NE DC, strategically positioned near the vibrant H Street corridor. This VACANT (NO TOPA) 4-unit multi-family building comes ready for transformation, with Approved Plans and a recently issued Building Permit to construct 10 luxury condo units spanning a cellar, four floors, and a penthouse (PH) level. Additionally, the property includes two dedicated parking spaces. The development is designed to attract discerning buyers and investors, featuring: Two expansive three-bedroom penthouse units, each spread over the 4th floor and penthouse level. Six thoughtfully designed two-bedroom units. Two stylish one-bedroom units. With a projected construction cost estimated between $1.2M - $1.5M, this development offers a potential sales range from $3.4M - $3.9M. The anticipated ARV is based on $580/sqft to $670/sqft, ensuring a strong return on investment. The total gross area for the 10 units is 7,414 sqft, with a net living space of 5,862 sqft. Plans have been meticulously prepared by 2Plys Architecture, a firm renowned for their expertise in multifamily condo conversions in DC. This project is truly shovel-ready with all plans and permits in place, making it an exceptional opportunity for developers looking to make an immediate impact in one of DC’s most desirable locations. Act now to seize this turn-key development opportunity and position yourself for impressive returns in the dynamic NE DC market. Contact us today for more details and to schedule a viewing.
Listing courtesy of BRIGHT / EXP Realty, LLC
Last checked:
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Last updated Nov 8, 2024
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MLS# DCDC2167858 —
The Building
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Year Built:1942
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Year Built Source:Estimated
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New Construction:Yes
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Construction Completed:No
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Construction Materials:Brick
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Structure Type:Interior Row/Townhouse
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Architectural Style:Federal, Mid-Century Modern, Contemporary, Colonial
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Building Units Total:4
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Accessibility Features:2+ Access Exits
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Foundation Details:Concrete Perimeter, Other
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Total SqFt Source:Estimated
Interior
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Living Area SqFt Source:Estimated
Room Dimensions
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Total SqFt:2368
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Living Area SqFt:2,368 Sqft
Financial & Terms
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Sale Type:Standard
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Acceptable Financing:Cash, Joint Venture, Private, Other, Industrial Development Authority
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Possession:Immediate, Negotiable, 0-30 Days CD
Location
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Directions:Use GPS
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Latitude:38.90269252
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Longitude:-76.97496000
The Property
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Property Subtype:Quadruplex
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Property Type:Multi-Family
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Property Condition:Excellent
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Lot Size Units:Square Feet
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Lot Size Acres:0.06
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Lot Size Source:Estimated
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Lot SqFt:2,432 Sqft
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Zoning:RA-2
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In City Limits:Yes
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Other Structures:Above Grade
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Water View:No
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Soil Types:Chillum-Urban Land Complex
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (301) 792-9276
- Office phone:
- (833) 335-7433
Taxes
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Tax ID Number:4477//0022
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Tax Year:2023
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Tax Lot:22
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Tax Annual Amount:$6,581
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Tax Assessed Value:$774,210
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Year Assessed:2023
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City/Town Tax:6581.00
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Total Taxes Payment Frequency:Annually
Heating & Cooling
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Cooling Type:Central A/C
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Central Air:Yes
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Cooling Fuel:Electric
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Heating:Yes
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Heating Type:Hot Water
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Heating Fuel:Electric
Utilities
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Sewer/Septic:Public Sewer
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Hot Water:Electric
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Water Source:Public
Schools
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School District Name:District Of Columbia Public Schools
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School District Source:3rd Party
The Community
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Pool:No Pool
Parking
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Garage:No
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Type of Parking:On Street
Extra Units
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Vacation Rental:No
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One Bedroom Units:2
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Two Bedroom Units:6
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Three Bedroom Units:2
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
11/7/24
Nov 7, 2024
|
Listed / Active | BRIGHT | $1,299,999 |