Good Deal or Not? “condo w/balcony & pool view near Theatre” edition


This unit is located at 700 7th Street, Southwest. The listing says:

“Priced to sell 1-Bedroom condo w/balcony & pool view near Theatre, Grocery, SW Waterfront, NATS Stadium & many other amenities! Access to L’Enfant Plaza Metro & close to Reagan Airport. Circulator Bus provides easy access to Chinatown, U Street Corridor & Columbia Heights. Enjoy this very secure building with 24-hour concierge, Pool, Sauna, & Fitness Center. Elec. & Wtr. incl. in Condo Fee!”

You can see more photos here.

This 1 bed/1 bath is going for $264,900 ($615 monthly fee.)

17 Comment

  • Personally I would hold off and see if he can sell it for a little bit more in 2 years. If he/she can afford it to that is. Prices are about to jump in this area. If the Wharf pans out he can sell it for 300k if not more.

    • +1. That’s what I was thinking. This would be a good investment/rental property if you were looking,

      • I’m in the same boat, this particular condo is about 100 sq feet bigger than mine, so I’m still debating if I should rent it out or just sell it at a really good price. Talking w/others in my building, we all want to see if the Wharf thing is legit before we make a move.

    • Do yu think there will be HUGE demand for waterfront units in the Wharfs projects? Like will the waterfront high in demand like many other cities that have waterfront living?

      • Yep. The new luxury apartments that opened up 3 months ago is already at NoMa levels in terms of pricing, and that’s without a single construction crane/shovel into the ground. It’s going to get worse.

  • Great deal! My friend has a one-bedroom in this building. These pictures don’t do it justice. The units are very big, the balconies are spacious, and the grounds are beautiful. There’s a ton of storage too – the master bedroom closet is huge, there’s a big coat closet by the front entrance, and I believe there is also a linen closet in the hallway by the bathroom/bedroom. Yes, this unit needs to be updated, but it would cost less than $10K to put in a new kitchen, flooring, and light fixtures. The location is very convenient to downtown, Capitol Hill, and Arlington. And in just a few years, the waterfront (only two blocks away) will be completely redone with shops and restaurants. If you’re planning to live in the city as a single person or couple for the next 3-5 years, you should hop on this deal.

  • The price itself is a great deal, but yikes — that condo fee is steep for a 1-bedroom.

  • Sell before summer. Look for the condo fees to increase since it is an older property. You are competing against newer properties that have better amenity. Sure the neighborhood will improve, but the property will continue to age.

  • The condo fees can be a little daunting at first, but they include all utilities, 24-hour front desk, gym fees, and pool fees, plus twice yearly preventative maintenance on your HVAC unit and other in-house services. I’ve lived here for about 4 years now and think it’s a fantastic place.

    • I was going to say $615 as crazy until I saw your post. That’s completely worth it if it includes all that. Someone should jump on this especially a baseball fan.

  • Who put those cabinet handles in the middle like that? I don’t get it.

  • I live in this building and enjoy the pool and large porch. The building is very clean and the maintenance folks are very nice. The residents are comprised of younger folks looking for more space and amenities for their dollar and older residents, many of whom are original owners from the late 60s. There is plenty of parking in southwest which is a huge perk. No need to pay for a parking spot. The building politics are absolutely ridiculous as it seems to be a bunch of people who have nothing better to do with their time. Politics aside, its a great building to live in, it is FHA approved, and we need more young people!

  • But the realtor should really update their information about transit access here – the DC Circulator ceased providing easy access from here to Chinatown and points north in 2011.

  • I use to live in this building, and this apartment mirrors mine completely. It is a nice place to live and the staff and longterm residents are really nice. (And kinda funny, how the old timers congregate in the lobby. The apartment is really affordable, I am guessing because it has the original cabinets and bathroom.

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