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GDoN “well-lit spacious home” edition

by Prince Of Petworth — September 6, 2016 at 12:10 pm 17 Comments

128 U St NE

This unit is located at 128 U Street, NE. The listing says:

“A wonderfully renovated three (3) bedroom, three (3) full bath converted into duplex condos on an open floor plan with Quartz, stainless, and much more. This well-lit spacious home offers walk-in closets, recessed lighting, beautiful hardwood floors and off-street parking. Includes 1 assigned parking space.”

GDoN

You can see more photos here.

This 3 bed/3 bath is going for $655,000 ($100 monthly fee.)

  • anon

    Who would the target market for this home be? If you can afford to drop $655k + $100 (for now) fee, you could get a comparable fee simple rowhome with a finished basement/yard on the Northern parts of Petworth/Brightwood Park….Eckington is definitely more centrally located, but this is about a 15 minute walk to the metro, and it’s not a totally safe walk either.

    Also, something about the third column on the porch bugs me. The interior is fine, nothing offensive, but it doesn’t blow me away.

    • jcm

      I am not the target market, because I wouldn’t live in a two-unit condo, but I would much rather live in Eckington than in the Northern parts of Petworth/Brightwood Park. The neighborhoods aren’t really comparable at all, at least to my taste.

      • anon

        Whatever, I just picked that neighborhood out of a hat because it’s one of the places where a nicer standard issue rowhome goes for about the price of this condo. I’d probably prefer to live in Eckington too, just not sure I’d pay this much to get no outdoor space and little storage space.

    • Bdylan89

      This location is basically in between Rhode Island and Noma Metros. The walk to Noma is safe but I would not walk down Rhode Island.

  • Anonymous

    So if the two owners have a dispute in a building how it that resolved? Court? I am sure it is fine if you get along but if not it seems like it could be terrible. Unless the deal was incredible not worth the risk for me.

    • Anon

      I cannot speak as to how this condo association is set up, but one unit will generally hold a controlling share.

      • Anon

        Nah, ours is a 2 unit with the bigger unit being 51% and 49% for the other. Neither unit has a majority and disputes go to arbitration. Condo associations don’t have a ton of power really. An individual owner can be a severe asshole if they want.

        • Anon

          Doesn’t 51% give you a majority there?

          • anon

            Yes, but its not a controlling share. A majority is still over 2/3. No unit can make unilateral decisions. So both units have to agree for anything to happen.

          • anon

            The percentage is used to calculate the condo fees for each unit. Since the 51% is slightly bigger it pays more condo fees. Which is why, I believe, that they make it uneven in percentage of condo board participation, but not enough to be a controlling majority in the condo board.

          • anon for this

            That’s odd. I own a condo in a building in which the commercial share is 51% and the residential share is 49%. My understanding was that the commercial owner, as the majority owner, got to call the shots. Perhaps Anon 1:47’s building is set up differently.
            In any event… 51% is a straight majority. Unless someone’s condo bylaws are written differently, I’m not aware that there would need to be a 2/3 supermajority.

  • Bdylan89

    I live a block down from this place and the property has been on the market for over a year. Since may of 2015 I believe. They sold the upper units in about 6 months but the bottom unit is just not selling mainly because of the price. Whoever the owner of the condo is trying to sell is definitely greedy and does not need the money that bad because they have barely dropped the prices on this unit over the past year. I think it started out at $675k. At 655k you could get a house in Edgewood in decent shape (not flipped) that would be a much better buy. This condo is not selling anytime soon unless the price drops. I’d say maybe $620k would be a good price for this unit.

    • Different perceptions of safety

      It makes sense that you would think the house is only worth $620k, you feel it’s unsafe to walk down Rhode Island to the metro station. I am surprised that you would choose to live in this neighborhood if you feel the walk down Rhode Island is unsafe.

      • Anon Spock

        Not the house, the lower unit. The upper sold for 665k after being on the market for 8 months. It’s highly unlikely the lower unit will get 655k after being out there for 15 months.
        Plenty of ppl don’t rely on metro or choose not to walk from it at night; don’t know why that’s so surprising.

      • Bdylan89

        The neighborhood itself is safe. The walk down Rhode Island to the metro, while it’s ok I would not do it at night. Both Noma and Rhode Island are on the Red Line one stop apart so you might as well walk to Noma which is a nicer walk and safer overall.

    • SF

      Totally agree. Nobody in their right mind would buy into a condo like this at this price.

      • Frank

        People say that all the time about properties that end up selling for the asking price. Never underestimate the demand for housing in DC.

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