Tues. Afternoon Rental Option – SW Waterfront

This rental is located at 510 N Street, SW:

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The Craigslist ad says:

“Bedrooms: Studio
Bathrooms: One
Neighborhood: SW Waterfront on the water
Sq Ft: 450
Parking: Available
Pets: NO
Laundry: W/D in Building
Kitchen: Dishwasher, Cooktop and Oven, Disposal, Refrigerator and Freezer.
Lease Terms: 12 Month Lease
Application Fee: $40/Applicant
Deposit: Equal to One Month’s Rent
Move-In Fee: $250
Fireplace: None
Floors: Hardwoods in the Living room and W2W Carpets in the Bedroom
A/C & Heat: A/C and Heat included in rent
Furnishings: NONE
Amenities: Indoor Pool, Outdoor Pool, Located right on the SW Waterfront and Walkway, Available Parking, Courtyard, Gym and Spa, 24/7 Onsite MGMT”

$1,250/month sound right?

18 Comment

  • Is a move-in fee standard? What does it cover that the application fee and the security deposit don’t?

    • I’ve not figured out what the move in fee covers. I’m moving out of an apartment building in Arlington on Friday and was given a list of charges for cleaning that i thought would be covered with the move in fee. i had never heard of move-in fees until coming to DC.

    • My condo has move in/out fees. Supposedly that money is used to fix damage to the common areas caused by moving. Dings to walls, doorways, stains on carpets, etc. (In practice though, it seems like just another revenue source, because they don’t repaint, clean the carpets, or fix dings each time someone moves in and out.) It says this is a coop, which I’m not familiar with, but I’m guessing the move in fee might be an association fee imposed on the owner, who is passing it on the renter.

      The application fee is for the credit check or other screening and the security deposit is to cover the owner in case of damage to the apartment itself.

      Why a regular rental building might charge move in fees separate from the cleaning or security deposit, I don’t know. I haven’t rented in a long time, but given the market, maybe some buildings just charge an extra fee because they can. Kind of like the checked baggage fee.

  • Very high for that area, very high for a tiny studio – especially considering the app/move-in fee and no W/D in the unit. I lived in a basement studio in Georgetown for less than this. No way – $1000/max

    • rents have actually gone up a TON in SW recently (with arena stage, the new safeway, etc.) I was paying $1200 for a 1br a couple years ago and rented the same place out this spring for $1400 (folks on PoP said it was a crappy deal, but I had plenty of interest). I think you’d be hard-pressed to find a studio west of the metro for much less than $1250, especially one with a dishwasher. Maybe a hundred or so less, but that’s about it.

      • em

        +1 – this place has a dishwasher, which I’ve heard is much more essential than a W/D (you have to wash dishes every day or two – clothes perhaps every couple of weeks, depending on your wardrobe size). Also, A/C and heat are included in the rent, which makes this a decent deal.

  • Too bad it’s a little high. That seems like it would be a really unique place to live, being right on the water like that.

  • Given the application and move-in fee, I think $1150-1200/month would be more appropriate. For those who say it’s way too high, it’s right on the water in a nice building, 450 is not tiny as far as studios go, and it is not a basement unit so those kinds of comparisons don’t really apply.

  • tonyr

    How does this …..

    Floors: Hardwoods in the Living room and W2W Carpets in the Bedroom

    … make sense in a studio?

  • 1250$ is about average for a in SW waterfront in a good building on the river. My husband and I looked renting a 2 bedroom in a few of the buildings in that neighborhood. They all had move-in fees and security deposits. A few even charged a deposit to hold the service elevator, which we found odd since we assumed that was covered in the move-in fee. We were also told we had to pay another move-out fee when we decided to leave. Needless to say we opted to not move to SW waterfront.

  • That’s too high. I pay $750 for my studio in Capitol Hill with utilities included, but I live in a small building, maybe that has something to do with it.

  • I am pretty sure we looked at a place in this building 2 years ago. The building itself is really nice, but the area between Waterfront and Navy Yard metro stops is still really sketchy. We drove and walked around that area before we decided not to move there. There are some big projects over there and it’s still not gentrified enough for me (let the flame war begin-I’m just being honest).

    • em

      Perhaps you should come back and review the area, as a lot has changed in two years. This building isn’t “between Waterfront and Navy Yard” – it is solidly two blocks south of Waterfront and definitely not “really sketchy.”

      • It hasn’t changed that much. I made the mistake of walking from the Yards Park to the fish market after dark recently. That area between the Navy Yard metro and the Arena Stage is still as sketchy as it was when I lived there in 2007/2008.

  • If there is any way you can swing it, you might look at Redfin.com for that area–the condo prices have come way down. Fees are a bit high, but….


    • Condos and, esp. coops, in that area are relatively cheap. In looking at co-op fees take into account that they represent the condo fee +w hat you’d pay in property taxes. I think some of the coops have taken out underlying mortgages (very common for coops, as opposed to special assessments which are common but rarely discussed for condos) to pay for significant improvements–those are reflected in coop fees.

  • I think I looked at that EXACT unit about 6 months ago and it was a couple hundred less then. Also, that complex kind of sucks and is about two blocks from a really sketchy looking hood. My answer is no, definitely not worth it.

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