GDoN? “INCREDIBLY CUTE 1bd/1bth W/ PARKING” edition

1705 P Street Northwest

This unit is located at 1705 P Street, Northwest. The listing says:

“INCREDIBLY CUTE 1bd/1bth W/ PARKING in Heart of Dupont! Low condo fee. Marble/SS Kit. Dining Area w/ Built-in has space for a table. French Doors, high ceilings, Crown Molding, sep LR/DR & a nice Balcony facing courtyard. 2 blocks from: Dupont Metro/Wholefoods. 5 blocks to 14th St,U St,Ad. Morgan! Pets OK. No rent rest. 2014 rented for $2650/mo. Room to add easily W/D.”

p st kitchen

You can see more photos here.

This 1 bed/1 bath is going for $324,900 ($375 monthly fee.)

31 Comment

  • This was rented for $2650 a month? Can that possibly be true? If so it’s insanely underpriced.

    • Well, it has no washer and dryer, is only 488 sq. feet, has no central air, and is a first floor unit. Yes it is cute and great location but I don’t really think it is underpriced.

      • Doesn’t matter. If the place rents for $2650 a month then this is an unusually strong investment opportunity. Somebody familiar with cap rates want to back me up here?

  • Super cute but super small.

  • Good deal (parking!)

  • This is basically my dream apartment….except about twice what I can afford.

  • Location = A+ Parking= A+, Great if you don’t mind small side IMO.

  • That range on that tiny little island is one of the biggest accidents waiting to happen I’ve ever seen.

  • This seems reasonable. Given the lack of amenities and the impending condo boom I don’t see the price going up a lot. But if you want to live in the city and plan on being around for a few years you could build a ton of equity quickly by taking a 15 yr mortgage on this place.

  • Incredibly overpriced. J. H. Christ.

    • Explain?! 1 brs here go for $2000. Add parking and you are 2250.

      With a normal down payment, this unit costs 1800/month. It is a steal at this price.

  • What’s with the weird strip of tile in the kitchen? Where would the w/d go?

  • Are there any drawers in that kitchen? Hard to see…

  • It’s very small, but it’s a true one-bedroom (not a studio), it’s in Dupont, AND it has parking. The price seems about right to me.

  • Who would seriously pay $2650/month to rent a 488 sq feet apartment? It IS cute and in a great location I suppose…but wow. I’m also going to assume that at least one utility is extra and pet fees/rent would apply.

    For the purposes of purchasing that is a great investment IMO if you plan to rent it immediately.

    • I rented my 495 sq foot apartment, all inclusive, but with a large balcony and a front desk, for $2200. Without parking. And I had my pick of applicants. So at the right time to rent (spring or fall), you can get that – add WD you can get more (but only if you include parking).

      • also, I never charged utilities or a pet fee (but I did collect a refundable deposit). If they don’t nickle and dime, they can get that and a good tenant. But it’s also a good first home for someone who can then continue to own and use it as an investment property

    • Don’t forget parking in this neighborhood is $200-275/month

  • VERY good deal if you can ensure the addition of a W/D. IF you put a W/D in there, you could get about $2800/mo for it incl parking. It’s a good price for owning – I am under contract to sell a nearby condo, no w/d in unit but in building (building also has a front desk staff), but no parking….for close to that price. similar size. good deal.

  • Just out of curiosity how much would an apartment like this, without parking, go for on a higher floor? I ask because I’m in the market.

  • Where would you even fit a W/D in here? Agree that range is an accident waiting to happen. Living with all 3 or your rooms 8′ or less in width is TOO cramped. This is a one bedroom, but with the size of the rooms, it would definitely work better as a studio. While it can make sense to overpay rent for location or whatever for awhile, that can be temporary. It makes NO sense to over pay to buy a place that is not comfortable to live in. Because the market won’t be that great when you get tired of being so cramped, and it will go up way more slowly than more comfortable places. Would only buy something like this if it was really seriously underpriced a lot, which this isn’t. Also, if you are going to cram into a place so small that you think it will have market value as a pied a terre later on, best to be in a larger building with more amenities for that market.

  • I viewed this place yesterday. To answer some of the questions: nope, no drawers in the kitchen. They suggest putting a combo washer/dryer in the kitchen under the angled counter to the left of the doors. I’m not convinced one would actually fit there unless they are much smaller than I’m imagining.

  • Did anyone look at the floor plan? The living room and bedroom are both only about 8 feet wide!

  • Will go over list. Parking alone is $50k

  • Realistically priced. The blurb is overwritten in terms of convenience. Proximity to Metro, WF, S’way and 17th street restaurants would be the real selling points, along with parking, which probably is worth 25-30K because it’s outdoors. The W/D option sounds like a joke. The need for central air in a place like this is ridiculous–a good window unit will quietly cool the unit for very little money over time. The rental rate is out of scale for the area, given the size.

  • This location is totally awesome. You can walk practically everywhere. I couldn’t afford living in the hood and now I live in Columbia Heights which is nowhere near as convenient walking-wise. It is also much safer than many of the newer hipster hoods. I think it will sell, especially with parking!

  • I could see it possibly working if one was able to knock down the dining/living room wall and at least open that area up into one space. I agree that the range on the island is a fire waiting to happen, especially since it’s gas– yikes! It’s such a cramped space that I imagine a rather tall person would just have to bend over at the sink and potentially be set aflame, it’s barely a wider space than the doorway. Absolutely ridiculous size for a one bedroom. The walls are a waste of what little space there is, and it would definitely be more functional as a studio.

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