Good Deal or Not? Dig The Triangle Window Edition


This condo is located at 3321 Holmead Place, NW:

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The flier says:

“Beautiful, pristine, two bedroom, two luxurious bath condo. Gourmet kitchen with stainless steel appliances, exceptional closets, a beautiful slate landscaped terrace and nearby rental parking available for $ 125 per month”

More info and a virtual tour found here.

Here’s another house that I’ve always wondered about. I hadn’t realized it was split into condos. It is located very close to the Giant which has to be a perk. I like the condo and the location but it is located on the lower level, right? I’ve often wondered how they price underground/basement apartments. How much do you think this would go for on a higher level? The asking price for this unit is $425,000. Sound reasonable?

11 Comment

  • Except this isn’t the 2nd floor unit with the big windows. it’s the basement of a rowhouse, which appears to have one tiny window in the entire place. I really don’t understand how anyone would want to pay this much money for a subterranean cave.

  • this was on the market about a year and a half ago. i wonder if they rented it and took it off the market or if it was purchased and now they’re selling again. At any rate, the second bedroom in this unit is barely large enough for a baby crib. the real bonus of the place is exclusive access to the beautifully landscaped and fenced in back yard. i’d say value of this place is $350k at the very best given that its a basement, and they tried VERY hard to squeeze in 2br and 2ba. its lovely but… squishy and overpriced. love the back yard though.

  • I think it’d be around $450k if it were on a higher floor (like this place:

    $25k or just over 5% does not seem like enough of a discount for being in the basement to me.

    Anon, Redfin says it was sold in March 08 for $414k, so it looks like a quick re-sale.

  • There is at least another window in the kitchen. Looks like they put in a glass door in one of the bedrooms to add more light in. I’d guess the second bedroom, not photographed, has a small window as well. But they are still small windows.

    Paying that much for an upper level seems reasonable, but not a basement unit.

  • $425K for that? Hell, even $414K? Crazy talk for a basement with a tiny-ass yard.

    Anon above who raves about the yard must not have one. This yard looks more like one of those yards that solitary confinement prisoners get – big enough to walk around in circles wondering where grass or a view is.

  • A very nice 2 bedroom on the upper floor (or at least on an above-ground level) of a rowhouse went for about $500k in adams morgan a year ago. Meanwhile, another cave-like “2” br/2ba condo in the basement of a rowhouse at 1454 Newton Street is on the market for under $300k (which, if they had simply gotten rid of the den/pseudo-bedroom and bathroom and made a larger kitchen/dining/living area would be something that someone might consider living in.

    So, no, this is a major rip off at 425K.

  • Ugh. It looks like Fritzl’s basement. Never.

  • The lack of photo(s) of the 2nd br is suspect. I’ll bet it doesn’t have a window.

    I’m about to move out of a basement apartment… It’s good for a year or two rental, but to buy one would be asking for lack-of-vitamin-d-induced-depression. Trust me, don’t do it!

  • Wayan, you are so right, i don’t have a yard and i would kill for a little bit of nice outdoor space, just like this. instead i bought a condo on the second floor, with tons of windows and great natural light, same amount of space and half the price of this. i’d love to have a yard, but the tradeoff for the money and natural light totally worth it.

  • It probably has a window in the 2nrd BR (otherwise they can’t really call it a bedroom, right?) but it’s probably one of those tiny basement windows right under the ceiling.

  • i live on monroe, just around the corner of this place. it sat as a shell for a long time and finally sold in december. within DAYS workers were clearing it. then construction began. the result is from a 2 month turnaround. it was ridiculously fast. that alone makes me skeptical.

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