Hipchickindc is a licensed real estate broker. She is the President of 10 Square Real Estate. 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: 816 8th St NE #1 & #2
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Bedrooms: 3 Baths: 2.5 Parking: Street Ownership: Condo
List Date: 04/23/2015
Unit 1 Original List Price: $825,000.
List Price at Contract Unit 1: $796,000.
Settled Sales Price Unit 1: $796,000.
Seller Subsidy Unit 1: $0
Square footage Unit 1: 1962 Square Feet
Price per square foot Unit 1: $406.
Days on market: 41
Settle Date: 30 June 2015
Unit 2 Original List Price: $875,000.
List Price at Contract Unit 2: $875,000.
Settled Sales Price Unit 2: $875,000.
Seller Subsidy Unit 2: $15,000.
Square footage Unit 2: 1634 Square Feet
Price per square foot Unit 2: $526.
Days on market: 39
Settle Date: 15 July 2015
Transaction type: Standard
Original GDoN post is: here.
The original listings can be seen here: here.
Despite the controversy surrounding development of single family residential homes into multiple units, along with the likely dreaded-by-neighbors pop up, there is clearly demand for the resulting condo product. Buyers of these units tend to be looking for new construction and spaciousness. In many neighborhoods, converted rowhomes can serve as an interim priced product between smaller condo units and single unit houses.
In this specific location, within 1/5th of a mile of the subject property, since the beginning of 2015, there have been 12 fee simple houses sold ranging in size and condition, and with settled sales prices from $419,000. to $980,000.
In addition to these two units, in the immediate area since January 2015, there have been two other similar condo sales one block east on 9th St NE. These sold at $481 and $575 per square foot. There are several new construction multi unit condo buildings currently selling in the area, including The Maryland, and 1115 H St NE. As with other neighborhoods around the city, as the need for housing units continues, we can expect to see more condos developed in this area that has primarily been single family residential units in the past.
The listing agent for the subject property sale was Tom Faison with Re/Max Allegiance. Nate Guggenheim with Washington Fine Properties represented the buyer for Unit 1 in this transaction. Nathan Guggenheim with Washington Fine Properties represented the buyer of Unit 1. Sharon Jordan with Berkshire Hathaway Homeservices PenFed Realty represented the buyer of Unit 2.