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GDoN “light to fill every room” edition

by Prince Of Petworth March 30, 2017 at 12:00 pm 20 Comments

1340 Q St NW #13

This unit is located at 1340 Q Street, NW. The MRIS listing says:

“Condo located on the southside of the building allowing light to fill every room with the oversized windows. This comfortable 2 BD, 2 BA condo has an open floor plan featuring separate living room and dining room. The kitchen has stainless steel appliances, gas cooking and a breakfast bar, hardwood floors throughout, crown molding, and a gas fireplace. extra storage and a full-sized, deeded PKING”

gdon logan

You can see more photos here.

This 2 bed/2 bath is going for $749,000 ($445 monthly fee.)

  • HOA Hater

    $445 monthly fee better include personal foot massages. That is really high for a rowhouse conversion — unless there is a doorman and a pool I’m not seeing.

  • EckingtonDoodle

    Agreed, just about to say the same thing. For the full price of a rowhouse, no yard AND condo fees..no thanks.

    • MHillPark

      Sadly, in Logan Circle $750K is nowhere near the cost of a rowhouse. 🙁

      • JohnH

        Depends on the size (there aren’t a lot of rowhouses that are 2 bed/bath). There’s a nice 3 bed/2 bath that’s a bit larger than this house for sale at 11 and T for $885 (just had a price drop). Not “Logan Circle” by definition, but still in very “hot” area.
        .
        However, you can get a very nice 2 bed/2 bath for less than $749k in the area (if you’re willing to look past .5 block from 14th) – half the issue is inventory, which there isn’t a lot of.

  • condoer

    A lot of money, but seems like a decent deal to me. Beautiful exterior. I disagree that the condo fee is high for a 2/2. It’s not low, but it’s probably set at a price to actually meet the monthly expenses (unlike some new buildings advertising $180 condo fees that are unsustainable)

    • JohnH

      $480/month for a rowhouse conversion with 2-3 units is PRICEY. $180 is not unsustainable for something like that. Reasonable would be $250- low 300s.

      • condoer

        I guess it depends on the owners’ tolerance for special assessments and whether or not you want to hire a property management company. For example, in my 4 unit row house conversion we hired a company to do the books but not any of the day-to-day maintenance/cleaning. Also need to consider things like trash collection. If you have to pay private trash, that’s a shockingly expensive.

      • Anon

        $250-300 is more inline for a 2 unit building. My guess is that this is professionally managed, which adds 10-15% percent to the cost. I also highly doubt that someone looking to buy a 2/2 for $750k is going to want to do any of the basic maintenance/landscaping themselves. These guys also have to pay for private trash/recycling, I’m pretty sure, which further adds to the cost.

      • MHillPark

        There is only so much a condo fee can cover in a building without a pool, gym, or front desk concierge or door attendant. The fee might cover the lion’s share of insurance needs (common elements and sometimes even the interior of units), some of the unit’s utilities, yard maintenance and snow removal, the capital fund, property management, and perhaps general maintenance needs. I’m wondering if the fee might cover all utilities and a generous master insurance policy? There has to be something in there to rationalize the high fee (which the listing oddly labels a low fee) since this is a fairly new building (post-reno anyway).

        • Anon

          Right. In a small building it is easy to understand where the money is going. Either current services or reserves. Once you buy you can push to cut one or the other if you want to pay less. Just make sure you know that without reserves an assessment is looming.

      • anon

        This is a 12 unit building. So they probably pay a lot for relatively simple management tasks like bookkeeping and all other paperwork filing stuff (I have done all the work for a 4-unit coop, it isn’t that much work, but some people will not do anything for others, because while you do end up with a well-managed building if you have someone good like yourself doing the work, you can feel taken advantage of if you are the one doing it – it is a thankless task.)
        .
        And, since they have fireplaces, I hope part of that fee goes to pay a chimney sweep on a regular basis, rather than hoping that those with fireplaces actually clean them frequently enough such that you aren’t worrying that your neighbors’ negligence might cause the building to burn down (if they aren’t just gas fireplaces) as I used to worry about – wood burning fires cause build-up in chimneys that can lead to fires if not regularly cleaned by a chimney sweep.

        • JohnH

          Wow, didn’t realize it was that large.

  • Newer Hill East

    Beautiful staging, minus the list of New York streets. Comeon, folks. Hang a DC sign!

  • JohnH

    While they seemed to make a good effort, any rowhouse that’s not an end-unit that advertises itself as “sun drenched” and what not is a lie, particularly when its a north/south row house.
    .
    I have an end unit rowhouse east/west facing apartment with windows across the whole side and there’s still times it doesn’t seem “sun drenched”.

    • anon

      Well, yeah, it depends on what’s outside to block the sun. I had two brownstone apartments, both on second floor, both facing same direction on same side of the street, where the one with no side windows had many sun-drenched rooms, and the row-end one with an additional 6 windows on the long side had really nice views out those windows, but not a lot of direct sunlight came in from those west-facing windows, due to that side of the building being on a narrow (though highly picturesque) street with lots of really old tall trees outside.

    • B

      FWIW, I suspect this place is sun-drenched. I’ve seen several of these units (had a friend who was an initial buyer way back when), and this one you will see has East and West exposures, as well as Southern exposures in the bedrooms. While I don’t deny that this place (and the condo fees) is not cheap, I do think it is appropriately priced. This is not just a three unit conversion, but was two lots, and built back (I suspect the 12 units is correct). Having been suckered into being a condo president for a 36-unit building once, the costs folks don’t think about really start to add up – landscaping, snow removal, trash, insurance, repairs, property management, utilities, reserves. No one wants to deal with this stuff, but don’t want to pay the fees to cover them. That said, the condo fee is a bit high, though not insane.

  • msfp

    This price seems reasonable to me for a nice looking 2BR/2BA with parking in that area. That fee doesn’t seem outrageous to me if they are adequately funding reserves (eventually the exterior needs pointing, roof, resurfacing parking lot, etc). That corner is a bit busier than my ideal but not a dealbreaker.

    • msfp

      Though I meant to add also, why are there no pictures of the bathrooms?

  • Easyenough

    $749/sq ft is pretty impressive for a 1000 sqft 2bed, 2bath. I’m more familiar with Dupont apartments, but in similar condition they tend to be in the mid 600’s/ sq ft with comparable condo fees.

  • Am

    The closets in the bedroom only have enough space for 5 shirts each and a couple pair of shoes.

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