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Wed. Afternoon Rental Option – Navy Yard

by Prince Of Petworth June 25, 2014 at 3:00 pm 34 Comments

navy_yard_rental

This rental is located somewhere in Navy Yard. The listing says:

“I bought this condo because I wanted a nice place to setup my treadmill desk and somewhat minimalist setup. I found the Navy Yard location excellent for bikeshare and easy access to the interstate (which is crucial, since I work outside the beltway). The condo building is new, everything works, and it is easy to clean. My furniture is currently scheduled to be moved into storage while I am away, but I would be willing to leave it in place at no additional cost if you like the setup.

Available 8/1/2104. Murphy bed included. One underground parking space included. Twelve month lease, $3000 deposit, utilities NOT included (average $60 electric, $30 water/trash), building has $300 move in/out fee.”

You can see more photos here.

This studio is going for $1,850/Mo.

  • Anonymous

    Wow, the owner wasn’t kidding about a minimalist setup…

  • Anonymous

    is it legal to charge such a large deposit? I thought you could legally only charge one month’s rent as a deposit.

    • Anonymous

      If you’re a landlord, no. You can only charge one month’s rent, and you are obligated to return it with interest if the tenant leases for a year or longer. Not sure this guy would qualify as a landlord though, if he’s just renting a single unit. I think you have to have four or more units to be subject to those requirements.

      • Lawyer

        Wrong. If you rent four or more units you’re subject to rent control, but if you rent even a single unit you’re a “landlord” and subject to DC’s basic landlord/tenant law. It is against DC law for any landlord to charge a security deposit of more than a months’s rent.

        • anon

          +1
          Hope he has his basic business license ready to go

  • Anonymous

    for this much you can get a 1br of similar caliber in a similar if not better area…and whoah at that deposit!

  • Anonymous

    Looks nice, great neighborhood. Holy crap a studio costs $1850 now. Eff my life.

    • Anonymous

      No, they don’t in many other places. This is ridiculous. And that deposit! What the hell?

      • Anonymous

        The deposit it illegal.

    • Anonymous

      It costs that much in one of these cloistered, soul-less buildings. I’d never drop that much scratch on a glass box studio. However, this falls within the military’s housing allowance for DC, so my guess is that it goes to someone detailed in the Navy yard who doesn’t have to pay his own rent.

      • Anon

        Probably one that also owns a treadmill desk.

      • Anon

        The military gives you a housing allowance, and does not actually pay your rent. Most militatary people only spend a portion of the allowance, and pocket the rest.

  • kken

    I live across the street… this is the Velocity. Looks like a nice building, the balconies are way too small to be really usable. Luckily this isn’t on the side that overlooks Justins, which has been noisy as hell now that summer/baseball season is here.

  • Anonymous

    People are out of their minds! I pay a $1,575 mortgage and $350 condo fee in a 6 year old, 2 bedroom 1 bath (975 sq. ft.) unit in Adams Morgan. Granted the the area and access to metro/highway is different, it just baffles me that people would possibly pay this much in rent for a studio.

    • Anonymous

      There are LOTS of people in DC who don’t pay their own rent. It’s either covered by the US Government (military, State Dept foreign service, USAID foreign service, intelligence agencies, etc.), a foreign government, or one of the big international organizations (IMF, World Bank, etc). Tens of thousands of people. There’s entire buildings in the most expensive parts of DC filled with State Department staff who are here for over a year while they do language training. TBH, there’s no reason why they shouldn’t cover their own costs while in-country. Same goes for much of the military, especially the Officer class who are well compensated.

      • anon

        World Bank/IMF do NOT pay anybody’s rent. That’s just dead wrong. Like many employers they’ll pay a one time resettlement fee to offset the cost of moving, but that’s it

    • kook47797

      975 Square feet, in a new building, IN Adams Morgan? That had to be like 500-600K, yes? How much did you put down and what was your rate to get your mortgage that low?

  • Anon

    Never in my life would I have thought that someone would buy a place because it had a good place to set up their “treadmill desk”. I feel OK about making this snarky comment because a $3000 deposit on a bare bones studio is laughable.

    • I feel exactly this comment.

      “We put a mac in the pictures! Add $100 to rent.”

  • Navy Yard Res

    Needs to drop the rent maybe $100 or so and out of their mind on the deposit. I live in Navy Yard and I pay $1834 a month for a 1 bedroom plus den, two parking spots (free at the time we signed the lease) plus a huge storage unit (also free). No deposit, great amenities.

    • Urban_Architect

      What bldg do you live in? That sounds like a sweet deal.

  • bleedo

    I looked at these a while back…nice well kept building and units…but TINY for the price!!!

  • Ryan

    The $300 nonrefundable “move-in/out” fee makes me cringe. That’s $600 someone will never get back.

    • Anonymous

      Usually required by the condo association to cover any potential damages/scuffs during the moves. The owner should just eat these fees, if he wants to get this ambitious price.

      • anon

        these are standard fees in most condo buildings.

        • but that rent is not standard for a studio, idc how large the windows are.

  • You kidding me?

    $600 non-refundable moving fees and a THREE THOUSAND dollar deposit? What a ripoff!

  • carlosthedwarf

    A deposit that large is very shady. If I had to guess, the owner is in financial trouble and needs that cash ASAP.

    • Anonymous

      Yeah that would be a huge red flag for me too.

  • carlosthedwarf

    $1850 a month is more than an ordinary mortgage on a 1-BR in the same building: http://www.zillow.com/homedetails/1025-1st-St-SE-APT-1104-Washington-DC-20003/103865928_zpid/

    • Sarah

      Yeah, but you have to have a sizable down payment to compete. A lot of people rent because they don’t have $60K or $70K to put down.

      • CHGal

        Right, and I’m not going to pay a higher rent because my landlord put down a small deposit.

  • cewaspx

    Thanks for the comments! I lowered deposit to one months rent.

  • Eleven

    Y’all, in this type of building, with parking, this is really not a bad deal (now that the deposit is lowered). My guess is several of the commenters have been out of the rental market for a while and/or are anti-fancy-buidling, and those who own sound like they had hefty down payments. Three years ago I considered renting a studio with not-as-nice finishes and no parking in a good downtown NW location with similar fees and rent that was $400 more than this. I decided to move to a basement apartment instead because I didn’t need the amenities. But these are the prices!

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