GDoN Revisited by Hipchickindc – 440 L Street, NW #1107


Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a advertiser. 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: 440 L St NW #1107
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Mt. Vernon Triangle
Bedrooms: 2 Baths: 1 Parking: Garage Parking Space Conveys (also storage unit conveys)
Living Area Square Footage Per Listing: 868
Original List Price: $489,000.
List Price at Contract: $489,000.
Days on Market: 6
Settled Sales Price: $499,000.
Seller Subsidy: $5,000.
Settled Net Price per Square Foot: Factoring in $15k for garage parking, $551/sq foot
Settlement Date: 10/16/2013
Bank Owned? No Short Sale? No

Original GDoN post is: here.

The listing can be seen: here. To see pics, open the link above and click on the camera icon to scroll through pics.

As the real estate bubble swelled during the mid-2000’s in downtown DC, developers were scrambling to finish up the numerous large condo projects that had literally taken years for permits, financing, and construction. Unfortunately, a lot of these large projects came on line just as buyers were starting to question the seemingly ever expanding prices of DC real estate. Many entire buildings ended up as rentals.

Over the past couple of years, however, the L Street building at City Vista has seen a return to a healthy sales pace. When the building was first introduced, the surrounding area was still in development, but has since blossomed with the Sexy Safeway, and numerous restaurant choices within steps.

Commenters to the original Good Deal or Not (GDoN) post noted the $560 per month condo fee, which was quickly backed up with a nod to the building features, which include a roof top pool. Residents of this building (and its sister rental building, The K) also have the benefit of secure underground parking, a concierge, an elevator, and comfortable common area loungy spaces that essentially extend one’s living space.

The listing agent was Kerry Fortune of Washington Fine Properties. The purchaser was represented by Mark Luther with Access Real Estate.