GDoN Revisited by Hipchickindc – 1424 Rhode Island Ave, NW

Hipchickindc is a licensed real estate broker. Her latest business venture can be seen here. Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.

Featured Property: 1424 Rhode Island Ave NW Unit F
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Logan
Original List Price: $791,424.
List Price at Contract: $791,424.
List Date: 09/09/2011
Days on Market: 10
Settled Sales Price: $780,000.
Settlement Date: 10/20/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Cash
Original GDoN post is: here.
The listing can be seen: here. To see the photos, after opening the listing link, scroll through the arrows on the main pic.

Good Deal or Not Revisited (GDoN-R) posts have profiled sales for a range of properties including formstone-laden Victorian castle-like structures, a multi-million dollar contemporary overlooking Rock Creek Park, gut renovated Victorian not-so-castle like structures, a post war apartment building turned condo, and plenty of porch front rowhomes built in the 1920’s and 30’s. Depending on what neighborhood in DC you might find yourself, the architectural vibe can be quite different from block to block. Clearly tastes, technologies, and perceptions of amenities change from one stylistic era to another. Personally, I enjoy stepping into the past and imagining the 1970s homeowners’ delight at upgrading to Harvest Gold Kenmore appliances.

Continues after the jump.

The comments on the original Good Deal or Not (GDoN) post for the subject property (see link above) were not very kind to the late 1980’s/early 1990’s design. Regardless, the property sold quickly at 98.56% of the list price, so it obviously appealed to somebody. According to a couple of the listings over the years, this row of properties was designed by architect Dudley Canada. Another gem excised from past listings…in 1996, the listing agent made special note that the location was “next to HoJo’s”.

Although the entire row is unified in appearance, the units at 1418, 1420, and 1422 Rhode Island Ave NW are fee simple homes. They do not even appear to have a monthly fee, which would indicate a homeowners association for any shared maintenance. The subject property, 1424 Rhode Island Ave NW #F, as well as 1426 #B,C,D, and E, which are off of a court yard, are structured as condominium ownership. The condo ownership structures seem to be quite large, and even include rentable basement studio units.

3 Comment

  • I saw this property several times a few years back when it was on the market. It is a condo associated with another building behind. Interestingly, the other units in this same row are fee simple (and smaller). The condo is very nice, but the kitchen is really tiny. The location speaks for itself.

    Also, you will not get any car bigger than a Mini Cooper or Fiat 500 (both of which I like) in the garage due to the staircase angle. The District owns the land up to the actual building, so parking in front of the garage is not legal. The owner told me that she received a few tickets per year by parking in front of the garage.

    Because I liked the unit so much, I struggled deciding whether or not to make an offer. I ultimately decided against moving forward because of the parking situation – it was a priority on my wish-list. I also hoped to avoid a condo fee if possible.

  • I looked at this place awhile ago and it has some good potential, but will take a good amount of work to get up to snuff. Overall the entire place felt very dated — the outside, the kitchen (which was falling apart), etc.

    It had a small rental unit with it which would generate some good income. I’m guessing $1200-1500 per month because of the location. So, that would definitely help with repairs over time.

    The factor that made me write it off was the wall of windows viewing the hotel next door. It’s hard to picture without actually being there, but basically the owners entire life would be on display to anyone staying at the hotel–not for me.

  • really weird lay-out, especially the kitchen! I think the outside is just butt-ugly too and no realistic parking (although having a garage would be really nice for storage). Overall I think there are better deals for $780k out there, even taking into account the location.

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