Good Deal or Not? Condo Edition

DSCN3575, originally uploaded by Prince of Petworth.

I think this was a house of the day back in the day. Apparently it has been split into two condos. The flier for this home/condo at 1836 11th Street, NW says:

“A most perfect offering in an ideal location, delightfully situated in a turn-of-the-century Victorian. This upper level 2BR 2BA is an impressive space w/ hardwoods, 10ft ceilings & generous storage space. A true gourmet kit incl: top of the line appliances & granite. Unit #2 includes one parking space. Located in U Street Corridor & just 2 blocks to Metro.”

A most perfect offering is the greatest start to the hundreds of these descriptions that I’ve read. Sorry. More info and photos can be found here.

So is a two bedroom, two bathroom with a parking spot at this location reasonably priced at $542,000?

7 Comment

  • no. no. no. and im not a big fan of splitting up small houses like this into condos.

  • nice.

    Who knows what anything is “worth” these days when it comes to real estate.

    I wonder about these row house condo conversions. This seems like a pretty high quality job. But I know that the developers are really only concerned with selling the units for top $, since they have no obligation for maintenance and repairs once the units are sold. The developer has no incentive to spend extra money on plumbing, electrical and other unseen items, or to ensure that high quality contractors do that work.

    We own a similar row house, and the need for expensive maintenance and repairs is nearly constant.

    What is going to happen at these places 5 years from now when the bills come due, the condo assoc. reserves are low to nonexistent, and the two owners need to agree to pay for repairs, and come up with the money to do so? Sounds like a recipe for bad feelings.

  • 2/3 story town houses turned into tiny condos (with or without pop-ups) are only a good deal if the unites sell for less than $200,000.

  • 500/sq foot is what condos in this location are going for, not 600/sq foot. So this is overpriced by about $100k.

  • NO WAY JOSE — this price is not even close

  • I live near hear and remember when these were first renovated and sold. They were listed for somewhere in the 700s roughly 2-3 years ago (they have changed owners at least once I think). I’ve been inside and they are nice units but my wife and I were giggling when we left the open house at how expensive they were. I hope the people who are sellling now aren’t upside down.

  • sorry neighbor, but these are recently renovated. Not the ones you are thinking about. See DC Property Sales history website.

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