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Good Deal or Not? “Fully renovated” edition (Reader Request)

by Prince Of Petworth July 22, 2010 at 1:00 pm 25 Comments

This home is located at 1118 Florida Ave, NE:


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The flier says:

“Two units zoned residential/commercial in a sought after rental area. Fully renovated in 2007, each unit has Stainless/Granite kitchen, gas appliances, Jacuzzi, exposed brick, rear deck, parking for 4 cars. Located in the H Street/Atlas District, a short commute to Metro, Downtown, Capitol Hill, and easy access to Gallaudet University, shopping and eating establishments.”

You can find more info here and photos here.

The reader writes:

“Hey, I saw this property and its neighbor pop up a few weeks ago and can’t figure out why they’re so cheap. Perhaps it’s the stigma attached to the Trinidad neighborhood, but I’d be interested to see whether people thought this was a GDON or not. The second link is the property right next door and has probably been renovated by the same person.”

That is bizarre. This 4 bed/2.5 bath is going for $319,000. This is truly bizarre. In June 2006 it sold for $615,000. Does the $319,000 sound realistic or will it get bid up much higher? The house next door that the reader mentions went under contract for $349,000.

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