GDoN Revisited by Hipchickindc – 326 A Street, SE


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: 326 A St SE
Legal Subdivision: Capitol Hill
Advertised Subdivision per Listing: Capitol Hill
Bedrooms: 3 Baths: 1.5 Parking: Street Basement: Yes Ownership: Fee Simple
Original List Price: $1,000,000.
List Price at Contract: $1,000,000.
List Date: 6/24/2014
Days on Market: 6
Settled Sales Price: $1,253,260.
Seller Subsidy: $0.
Settlement Date: 9/5/14
Bank Owned?: No Short Sale? No Estate: Yes

Original GDoN post is: here.

The original listing can be seen here: here.

PoPville original commenters to last week’s GDoN Revisited were completely on target with the expectation that the H Street area property would escalate above list price. The ultimate price of today’s subject historic property, a stone’s throw from the Library of Congress, will likely surprise a lot of people.

The property is situated on an over 4000 square foot lot, which is zoned R-4 and located in a designated historic district. The unconfirmed assumption is that the property has been acquired by a developer. This was the largest lot size recently transferred on Capitol Hill. Two properties with lots over 3000 square feet have settled on Capitol Hill since the beginning of the year.

Here are some news clippings referencing the property going back to the 1930’s, courtesy of a blog called “A Street SE: The History of a Capitol Hill Street”.

The listing agent was Betty Gee of Long & Foster Real Estate, Inc. Phyllis Jane Young of Coldwell Banker Residential Brokerage represented the buyer in this transaction.

19 Comment

  • I wish there was a little more explanation in these posts for those of us who are not real estate professionals. What is an R-4 zone? What are the ramifications of being in a historic district? Why was the settled price so much higher than the contract price?

    • R-4 allows multiple unit development. The historic district essentially means you can add on, but only if it looks a certain way. It doesn’t mean the size is limited as long as a bigger structure doesn’t detract from the existing appearance and design. There is a city review board especially for historic neighborhood that would have to approve the plans.

      I expect this to be expanded to probably about 6 units based on the lot size.

  • Wow a quarter million ABOVE asking. Wonder who bought this….

    I could see a developer/flipper buying this -but at that price? Seems like if they did that are looking to make multiple units but given how the house is situated it will be interesting to see how considering this in an historic district. Going up may not be an option and since so much of the lost is visible there is not easy/less visible way of adding to it so that may not be an option either.

    Whatever happens I have a feeling that the neighbors may be grateful.

  • historic district means they’ll have to preserve the facade and make upgrades that are compatable with the neighborhood (ie window sashes that are not vinyl). New materials can be used for replacment but must be hitorically compatible. Othewise this looks like a total gut job on the existing structure. The house itself only occupies a small amount of the land, and the open lot was surely attractive to developers (and raised the price %25 above the steep ask). R-4 means it but used as matter of right for single family home or small multi unit apartments (>900 sqft per unit).

    say 3 units ~$800K/unit + 2 units in existing structure ($600K)

    Plus the neighbors aren’t going to hardball them on plans becuase it’s replacing an eyesore.

    • You would think non one would raise a stink but this is the Hill and someone will object……..

      I do know that there are limits to how much a building can occupy of its lot though I don’t understand all the intricacies. Basically can they actually build and utilize the full lot I wonder.

      • They cannot utilize the full lot without gaining zoning exemptions, which as you alluded isn’t likely to happen given the “historic district” neighbors.

  • justinbc

    I didn’t realize just how big a 4,000 square foot lot was until I looked up mine, which I consider to be quite large thanks to it being a corner lot, and saw it was 1,200. Wow, that’s rather huge for Capitol Hill indeed.

  • I’m not surprised this sold, but the original asking price was absurd. 300k over the asking price is disgusting.

  • I’d love to see this lady come in and fix up the house:
    Not sure how I missed this last week. I think if you clean out the crap, shore up the house, and do some major renos it could be AMAZING. Clear out the side lot, put in a lovely garden, modern appliances, a modern HVAC, and let some natural light in after you replace floorboards and check for mold and asbestos, it could look like a completely different house, the house it originally was (and yes, I know that’s a lot).

  • Actually wasn’t a developer that purchased, but rather a neighbor.

    Excited to see this hoarder-den get renovated.

Comments are closed.