Today’s Rental has “the best rooftop in DC!” (reader request)

2112 8th st nw at 8th and v st nw

This rental is located at 2112 8th st nw at 8th and v st nw. The Craigslist ad says:

“$2900 / 1br – 742ft2 – Incredible unit in Atlantic Plumbing (U street, Shaw)

Amazing 1 bed/1 bath on 9th floor, west facing, in an incredible building with the best rooftop in DC! Highly sought after floorpan with a walk in closet, huge pantry, washer/dryer in unit, open kitchen layout and floor to ceiling windows in living room and bedroom. We were one of the first few residents in the building, so were able to choose basically any floorpan and unit – and this one is a winner!

rental

Building amenities include a gorgeous rooftop with views of both the Washington Monument and Capitol. Pool with plenty of lounge seating. Four fully functioning industrial gas grills and garden plots available for rent. Fully equipped gym at ground floor and indoor rooftop spin studio with Yoga, Bootcamp and professional personal training classes available for purchase at a discount to residents.

Also available is an industrial sized washing machine located on the first floor as well as a dog washing station, free bike storage, personalized package concierge as well as dry cleaning and laundering services available in house.

I’m being relocated for work, so unfortunately we’re forced to be parting ways with this incredible apartment. Looking for someone to take over our lease starting June 1. The lease runs through March 1, with the option to renew after (and probably get a free month out of the building when you renew! We did for the second year).”

33 Comment

  • I was interested in an IZ unit in this building, and the leasing office was a pain in the butt to try to work with, so I backed out. It seems like a very nice building but just a heads up. (This may just have been whoever was handling the new leases though, not whoever is working with the current tenant and prospective new tenant.)

  • This looks like a better deal than that last one (I think it was the smaller building next door, but still.)

  • maxwell smart

    on one hand I think “this is a beautiful building, great unit, good amenities. totally out of my price range, but about $1000/month but wishful thinking.” on the other hand I think “if you are paying almost $3000/month rent, couldn’t you easily afford a decent, if not nice, condo and build equity?”

    • Assuming you have the cash for a downpayment and closing costs, then yes. The issue is not always the monthly mortgage but having the money needed to close on a purchase. Of course, spending almost $3,000/mo makes it much harder to save up to buy.

      • right. I left a similar comment the last time this building was discussed. I’m half of a DINK couple and we can afford to and do pay $3000/month for rent (albeit for a 2 bedroom 2.5 bath split level condo). However, it will be a while before we build up enough savings to put down $100K or more on the type of condo we would want to live in.

        • maxwell smart

          not being in the condo market myself because I am relegated to a life of never being able to afford only the cheapest of apartments – yikes! is that what it takes for a down payment on a condo in this city!?

          • Yup. (Actually, I assumed that condos were like houses and people were buying the whole thing in cash — but that might be a false assumption.)

          • Developer consultant here* – yes the biggest barrier for first-time buyers is the down payment, not the monthly mortgage payment. This applies to condos as well as SFR.

          • We put $35k down on a nearly $600k row home with no problems. If you have good credit, can comfortably afford the mortgage, you should be able to find a broker in town to take care of you.

          • “is that what it takes for a down payment on a condo in this city!?” — It depends on the price of the unit and whether you are putting 20% down, or whether you’re putting down a smaller-percentage down payment and using PMI (private mortgage insurance).
            .
            If RSS and Mr. RSS are thinking they’ll need a down payment of $100K, that may mean that the type of condo they’re eyeing is going for around $500K.
            .
            For a less-expensive condo, the 20% figure would of course be smaller — for a $250K condo, 20% would be $50K.
            .
            FridayGirl, I think very few D.C. buyers are purchasing either condos or houses as all-cash sales, except for developers who are buying houses with plans to flip them. Developers have the financial wherewithal to do that kind of thing.

          • I bought my condo with 8% down, after the bubble burst with more hurdles to leap through in underwriting. If you have good credit, it is possible though it will impact the max you qualify for since PMI will be part of your monthly payment until you reach 20% equity (unless you can pay upfront with single premium mortgage insurance, and that also adds to what you need to bring to the table).

          • maxwell smart

            @textdoc: from what I have heard from friends and coworkers horror stories of trying to buy in DC, yes.. people are purchasing $300K+ houses and condos with full cash in hand. I know several people who were pre-qualified and had 20% or more to put down and got “outbid” by people with cash in hand.

          • maxwell smart – same. i have a few coworkers who’ve been trying to buy for almost a year now only to get outbid by cash-in-hand folks each time (thus my assumption). Either that or flippers are now flipping houses that don’t need to be flipped.

          • I just put down $25k on a $275k purchase. My interest rate is slightly higher because I did less than 20%, but it’s definitely WAY better to do the lender PMI (via the increased interest rate) than a separate PMI. I think I ended up paying an extra $20/month or so – worth it to be able to own now instead of several years in the future. (PS, don’t forget closing costs!! Those were another $8k or so.)

          • Maxwell Smart and FridayGirl — Hmm… that might be only anecdotal data about people beating out others with all-cash offers, but nonetheless I can see how it would be mighty discouraging.
            .
            FridayGirl, I think there are also cases of “flippers are now flipping houses that don’t need to be flipped.” Flippers prefer houses that are shells (or shell-like) so they don’t have to pay as much to acquire them… but they are also sometimes content to buy houses that are perfectly livable as-is, gut them, and turn them into luxury condos so as to maximize their return on investment.

          • Pre-approval will not enable a non-cash prospective buyer to compete with a prospective all-cash buyer who can make a competitive offer, but it is possible to do better than pre-approval. Recognizing our disadvantage in not having tons of cash available (though enough for 20%+ down), we worked with our lender and were able to determine an upper limit (anticipating a bidding war on a particular house) that the lender would guarantee, making any offer we made equivalent to all-cash in the eyes of the seller. It worked out for us.

          • There are great first time homebuyer programs (likely out of range of higher earning DINKS) out there if you’re willing to be patient as they are long winded. Maybe consider getting a second job part-time to save up enough to get over the down payment, closing costs hump.
            I’m fine living in a not that nice apt now to allow me to save for the great home later. Not everyone is willing to do that. It’s all about choices.

        • check out DC Open Doors (if you make under, I believe, $130,000). worked for us to buy a condo on the hill. we do pay mortgage insurance since the DC Open Doors only puts down 3.5% (FHA mortgage). seller paid closing costs since the unit sat on the market for several months. worth looking into!

    • @maxwell – agreed. If someone is paying almost $3000/month to RENT a 1 bedroom… I do not envy you, even with a pool…

    • I think many people choose to rent vs. own, as it allows greater flexibility

    • some people make a of money, but only wanted to stay in DC a two or three years (e.g., law firm associates), and this would be a great place for them.

  • I definitely appreciate this building a lot more from the outside now that that I’ve seen inside several of the units.

  • I love how the 9:30 club lights up the antenna wires during the holidays. I hope that won’t stop because of these places. (Although it will probably be pretty bright if your unit faces it.)

  • I have friends in this building and like it a lot, but would not take over this lease. Last I checked the building was offering a free month (or more) right off the bat. So you’d want to take advantage of that by leasing directly from the building under a new lease.

    • Reached out to the building and this floorplan is only available for $3400/month with a half month free. This is a better deal, by a long shot

  • Must be nice to have $2900+ handy to spend on rent…even a mortgage. Living in DC is becoming more and more dismal….

  • I’m not sure quitw how to articulate it, but I’m troubled by the fact that double the people weigh in on this real estate post vs. the senseless crime post directly above. I sort of get it, in that we are all invested in this one via housing costs, etc., and therefore our opinions are easier to access.
    And yet.
    It’s remarkable.

  • Two opposing thoughts:
    1) Walk-in pantry!! I want to marry this apartment right now.
    2) Eww @ ventless dryer that takes about 3 hours to dry a load of clothes. I mean I could (and have) put up with this in a $1500 apartment, but not one for $3k / month.