Photo courtesy of Alex Cooper Auctioneers
Thought you might find this story and associated picture interesting given the recent post concerning Petworth’s status as one of the hottest neighborhoods of 2012 in terms of real estate. Alex Cooper Auctioneers conducted a public auction on Wednesday January 16th to sell 514 Quincy St. NW. As you can see from the picture, the auction drew a huge crow including over 60 registered bidders.
The bidding started at $300,000 and ended up at $488,000. The home is a large, semi-detached home with 4 bedrooms, but needs complete renovations. The interest in this home really demonstrates how attractive Petworth has become for home buyers. The purchaser was not an investor and intends to live in the home following renovations. The family who sold the property had resided in it since the 1940′s, the family recollects that they paid around $20,000 for the property. The family was very pleased with the sale price.
514 Quincy St, NW via google street view