PoPville » Good Deal or Not? “Spacious two bedroom” edition

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Wed. Afternoon Rental Option - Park View/Petworth

Good Deal or Not? “Spacious two bedroom” edition

This coop is located at 429 Kenyon Street, NW:

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The listing says:

“Spacious two bedroom unit offers two full bathrooms, lots of closet space and included parking. Newly renovated kitchen! Walking distance to bustling Columbia Heights, 11th Street Corridor, and Washington Hospital Center. Great opportunity and great price!”

You can see more photos here.

This 2 bed/2 bath is going for $159,000 ($250 monthly coop fee.)

Category: Park View, Pleasant Plains, Real Estate

By: Prince Of Petworth | 15 October 2012 1:00 PM | 4 Comments

kyle-w

Hmm… Whats the catch? I am sure this is not a very nice building, but this seems like a very good deal.

October 15, 2012 at 1:29 pm
- Johnny
  
  Im guessing the co-op requires owner occupancy or investors would drive the price up.
  
  October 15, 2012 at 1:35 pm
- sam-g
  
  also close to the sketchy park morton public housing just to the north. Coop makes it impossible for investors to rent out and owners must sell if they want to move to a different area instead of renting the unit out. my guess is its priced on the high side even at that price.
  
  October 17, 2012 at 9:59 am
Rich

The coop fee seems low which may mean that the building nneeds work. Givn the location, the building may have been a rent control that was taken over by the residents. A lot of buildings went through this in the 80s. It may be that systems are ready for update, but there aren’t a lot of reserves or a strong enough owner base to finance them.

October 15, 2012 at 5:13 pm