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Good Deal or Not? Revisited by Hipchickindc – 2725 13th Street, NW #2

by Prince Of Petworth March 28, 2014 at 11:00 am 28 Comments


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 popville.com 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: 2725 13th St NW #2
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Bedrooms: 2 Baths: 2 Parking: Drvwy/Off-Street Ownership: Condo Monthly fee: $238.80.
Square Footage per listing: 1237
Original List Price: $674,900.
List Price at Contract: $624,900.
List Date: 1/7/2014
Days on Market: 21
Settled Sales Price: $595,000.
Seller Subsidy: $0.
Settled price per square foot (adjusted $25,000. For parking): $460/sq foot
Settlement Date: 3/14/2014
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The original listing can be seen here: here. You can see the virtual tour here.

Columbia Heights in 1993 was a very different place than it is today, from a number of perspectives. This massive Victorian corner property sold in its entirety for $229,000, a price less than the typical one bedroom condo in the area’s current real estate market. A few years later, in 1999, the property sold again for $250,000. Right around that period of time, the value of real estate in many downtown neighborhoods throughout the District began an upward trajectory that slowed from about 2006 to 2009, only to resume in earnest and continue its ascent in present day.

In 2012, the property came on the market at a list price of $1,095,000. It was purchased at that time for $975,000. You can see the extensive historic details in the virtual tour here.

The recent owners subdivided the property into four condo units. In addition to the subject property, Unit 3, a 1262 square foot two bedroom two bath unit sold for $703,900. Units 1 and 4 are currently under contract.

The listing agent was Mark Mlakar with M Squared Real Estate. Justin Paulhamus also of M Squared Real Estate was the designated representative for the buyer.


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