Thanks as always to DC realtor Kevin Wood for compiling this monthly list of home/condo sales for PoPville. Click below on “July 2016 Sales” for the full list of sales in PDF and excel formats.
Real Estate
Suzanne Des Marais is an associate broker with Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.
Featured Property: 1815 Lamont St NW, Units 1 & 2
Legal Subdivision: Mount Pleasant
Advertised Subdivision per Listing: Mount Pleasant
UNIT 1
Bedrooms: 3 Baths: 2.5 Parking: Surface, Faces Rear Ownership: Condo
Monthly Condo Fee: $470.96 Square Footage per Listing: 2279
Original List Price: $1,125,000.
List Price at Contract: $1,125,000.
List Date: 05/04/2016
Days on Market: 33
Settled Sales Price: $1,125,000.
Seller Subsidy: $0.
Settled Price per Square Foot (adjusted for parking): $485.
Settlement Date: 07/08/2016
Transaction type: Standard
UNIT 2
Bedrooms: 3 Baths: 2.5 Parking: Surface Ownership: Condo
Monthly Condo Fee: $470.96 Square Footage per Listing: 2052
Original List Price: $1,250,000.
List Price at Contract: $1,250,000.
List Date: 05/04/2016
Days on Market: 1
Settled Sales Price: $1,300,000.
Seller Subsidy: $0.
Settled Price per Square Foot (adjusted for parking): $623.
Settlement Date: 06/03/2016
Transaction type: Standard
Original GDoN post can be seen: here.
The listings can be seen here: here.
This property had been a large house with three levels of living space above grade and an unfinished basement. You can see the condition from when it was tenant occupied and transferred in 2014 for $896,000. here. As have many residentially zoned rowhomes throughout DC in recent years, it was converted to two substantially sized duplex condo units. The original Good Deal or Not (GDoN) post drew over 100 comments, many debating the value of a condo conversion versus a house. (more…)
Suzanne Des Marais is an associate broker with Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.
Featured Property: 1245 13th St NW #915
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Bedrooms: 1 Baths: 1 Parking: Street/On-site parking for rent Ownership: Condo
Monthly Condo Fee: $513.03 Square Footage per Listing: 632
Original List Price: $369,000.
List Price at Contract: $369,000.
List Date: 06/12/2016
Days on Market: 11
Settled Sales Price: $371,500.
Seller Subsidy: $0.
Settled Price per Square Foot: $588.
Settlement Date: 07/29/2016
Transaction type: Standard
Original GDoN post can be seen: here.
The listing can be seen here: here.
Built in post-lead paint era* 1981 as “luxury rentals” prior to the Renaissance of Logan Circle, the Logan Park occupies a prime downtown spot on the South East corner of the intersection 13th and N Streets NW. The building went condo in the early 1990’s, at which point the name changed to “Park Princess”. Her original “Logan Park” name was restored about a decade ago, when condo identity had seriously started to be a thing in DC. (more…)
3501 Georgia Ave, NW via loopnet
Thanks to a reader for passing on:
“Its been on the market for over a year…$2.1 might be a little steep.”
3501 Georgia Avenue NW
4,914 SF · Retail For Sale
$2,100,000
Value-add corner retail building. Adjacent secondary retail storefront rental and upstairs 10-room legal rooming house. Future development opportunity with 4,914 additional buildable s.f. as of right.
Park View/Petworth neighborhood, five blocks South of the Petworth Metro Station.
Photo by PoPville flickr user nevermindtheend
From WMATA:
“Metro GM/CEO Paul J. Wiedefeld announced that a valuation analysis of the Jackson Graham Building, Metro’s downtown D.C. Headquarters, has been done. The findings are that the building is valued between $56 million and $132, depending on what density a rezone of the property would allow.
Proceeding with the General Manager’s Customer Accountability Report (CARe) initiative to review the upside of selling the Jackson Graham Building, Wiedefeld enlisted a commercial real estate advisory firm, Jones Lang LaSalle, to conduct a valuation of the 48,041 square foot property.
The report includes a range of current market values for the property and identifies various scenarios that maximize its worth—from a baseline scenario of renovating the existing structure (which renders the lower end of the value range, at $56 million), to demolition and redevelopment from the ground up for future commercial uses (the highest likely value estimated at $132 million).
Adjacent to the Verizon Center and proximate to two Metrorail stations, the sale of the 600 Fifth Street, NW site is prime for a top-of-the-market commercial or residential development. However, current zoning has Metro as the only permitted use of the site. If Metro were to stay in the building, it would need to expend an estimated $75 million to $90 million to replace almost every major building system (plumbing, heating and air conditioning, electrical, fire/life safety), all of which are at the end of their useful life. (more…)
Hipchickindc (aka Suzanne Des Marais) is an associate broker with The Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.
Featured Property: 1421 Columbia Rd NW #B2
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Bedrooms: 1 Baths: 1 Parking: “Other” (yes, it says this in the listing) Ownership: Condo
Monthly Condo Fee: 123.00 Square Footage per Listing: 430
Original List Price: $299,000.
List Price at Contract: $245,000.
List Date: 09/10/2015
Days on Market: 243
Settled Sales Price: $220,299.
Seller Subsidy: $0.
Settled Price per Square Foot: $512.
Settlement Date: 06/29/2016
Transaction type: REO/Bank Owned
Note that this is not the subject property, but another unit in the building was a GDoN post in November 2015: here.
The listing can be seen here: here.
This recent sale did not start out as a GDoN (Good Deal or Not) post, however, I stumbled upon it while following up on another unit that was a GDoN in the same building. It seemed like an opportunity to write about a rare bird in DC…the foreclosure sale.
It’s still a heavily weighted Seller’s market out there with less than two months worth of active listing inventory at any given time (a balanced market is considered six months worth of inventory, which refers to the amount of time it would take at the current pace of the market to absorb existing inventory). That said, “Good Deals” are all relative to the conditions of the market. As agents, we still get inquiries from buyers looking for deals and the question, “what about foreclosures?” (more…)
A reader reports: “House in Brookland under contract for over $1 million. $1,195,000 to be exact. Wow.”
Check out the virtual tour here.
Hipchickindc (aka Suzanne Des Marais) is an associate broker with Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.
Featured Property: 3628 New Hampshire Ave NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Bedrooms: 4 Baths: 2.5 Parking: Carport Ownership: Fee Simple
Lot Square Footage per Tax Record: 1955
Original List Price: $679,000.
List Price at Contract: $679,000.
List Date: 05/23/2016
Days on Market: 8
Settled Sales Price: $715,000.
Seller Subsidy: $5000.
Settlement Date: 07/06/2016
Transaction type: Standard
Original GDoN post is: here.
The listing can be seen here: here.
The multiple listing system in the Washington, DC Metro region first went online as a dial up (not internet based until a few years later) in the mid 1990’s. Prior to listings being available on this closed computer system to agents only, listings were printed out for each real estate office in an MLS book. Every once in a while, while poking through listing history for a Good Deal or Not Revisited post, there is a house that has a few old listings which give us a bit of a time capsule view into the District’s real estate market.
This is a 104 year old house, so consider that this is just a small fraction of her story, over the last twenty one years:
Listed in September 1995 for $180,000. Sold for $180,000. Total taxes: $700. 3 days on the market (unusually quick for back then).
3 bedrooms, 1.5 baths. No pictures and no remarks. At that time, the agent would put the listing info into the system and several days later, the multiple listing system would send out a photographer to take a pic of the front of the property. No interior pics were included until many years later. Buyers were 100% reliant upon agents to pick out listings to show them since there was no consumer facing access to listings.
Listed in July 1996 for $108,000. It settled in October 1996 for $104,000. with a $2500. seller subsidy. 63 days on market. Still 3 bedrooms, 1.5 baths. Here are the remarks: (more…)
The 209 Upshur Street NW is currently home to the Gap Community Child Development Center. The real estate listing says:
“Fully occupied asset with strong NNN cash flow with fixed annual increases through 2024. Conveniently situated in the Petworth Neighborhood with proximity to Old Soldier’s Home, Washington Hospital Center, and growing retail along Upshur. Ideal 1031 Exchange. 7.65% Cap.”
It’s yours for $4,400,000.
Hipchickindc (aka Suzanne Des Marais) is an associate broker with Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.
Featured Property: 1005 Taylor St NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 3 Baths: 1 Parking: Street Ownership: Fee Simple
Lot Square Footage per Tax Record: 5265
Original List Price: $599,000.
List Price at Contract: $599,000.
List Date: 05/24/2016
Days on Market: 8
Settled Sales Price: $644,700.
Seller Subsidy: $0
Settlement Date: 07/05/2016
Transaction type: Standard
Original GDoN post is: here.
The listing can be seen here: here.
This home is a great example of a restored bungalow, with what appears to be the original layout and finishes preserved. There is a lot of unpainted wood trim and gorgeous floors. The down sides of these homes for modern users tend to be the small room sizes and single bathroom (hence why so many homes do not retain their original features to sell in the current market). In this case, the basement remains unfinished (although the attic offers additional living space.) (more…)