PoPville » Historic 1900 “Eliot” Building, home to 11-M Laundry, For Sale at the Corner of 11th and M St, NW

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Fri. Afternoon Rental Option - Truxton Circle/Shaw

Historic 1900 “Eliot” Building, home to 11-M Laundry, For Sale at the Corner of 11th and M St, NW

The listing says:

“Historic 1900 “Eliot” building, prominently sited on the corner of 11th and M Street within walking distance to the Verizon Center, METRO and the Convention Center. Great opportunity for any new venture on this busy intersection. Currently used as a thriving coin operated laundromat on the first floor with two rental apts on the 2nd and 3rd floors.”

It’s going for $2,999,000.

Category: Buildings, Logan Circle, Shaw

By: Prince Of Petworth | 30 July 2012 4:00 PM | 10 Comments

diploj

This is great. I hope it leads to a revitalization on 11th St that hasn’t really arrived yet. So long as nothing takes away El Riconcito — that plays is awesome.

July 30, 2012 at 4:06 pm
- Danielle
  
  My sentiments exactly.
  
  July 30, 2012 at 8:56 pm
Anonymous

I wonder if this includes the lot behind it, which has huge development potential. If not, it is priced too high.

July 30, 2012 at 4:31 pm
- Anonymous
  
  That’s kind of what I was thinking. The rental apartments probably generate ~$2,000-$5,000 in revenue each month. I have no idea what retail income would be, but it seems like it would be tough on a $3 million loan.
  
  A development company could of course convert and resell.
  
  July 30, 2012 at 4:39 pm
wonu

I know there are environmental remediation issues with dry cleaners….anyone know if that’s the case with landromats? I’d assume it isn’t, but just curious.

July 30, 2012 at 4:54 pm
Dave

This building has actually been on the market for over a year. It does not include the parking lot behind- that’s another owner. The price is way to high for just the building, which is a on a tiny lot.

July 31, 2012 at 6:57 am
crin

Parking lot is separate. Parking lot is actually 7 building lots all owned by E & L Associates of Cabin John, MD. Corner building is a stand alone in a historic district, so what you see is what you get. E & L can do something big with or without the corner building, but right now they must be happy sitting in Cabin John and counting their parking receipts.

July 31, 2012 at 10:05 am
- kyle-w
  
  Seems way too high. I would say probably a million too high. Someone who is sitting tight, with a small corner of a bigger lot that is looking to cash in when a developer wants to buy both the parking lot and this house and put in an 8 story condo building would be my guess.
  
  July 31, 2012 at 11:02 am
Anthony

We used to live in those apartments! Undoubtedly that is why it is considered “historic”.

It was a nice place to live but I always wondered why someone didn’t tear down the building and put up something bigger.

July 31, 2012 at 11:29 am
r

My friend used to live in the second floor unit. The kitchen is carpeted. Yes, the KITCHEN.

July 31, 2012 at 11:36 am