Real Estate

Sold in Woodridge in 28 Days

By Prince Of Petworth

sold 3109-20th-Street-Northeast

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: 3109 20th St NE
Legal Subdivision: Woodridge
Advertised Subdivision per Listing: Woodridge
Bedrooms: 3 Baths: 3 Parking: Driveway/Off Street, Faces rear Ownership: Fee Simple
Original List Price: $536,000.
List Price at Contract: $526,000.
List Date: 06/29/2016
Days on Market: 28
Settled Sales Price: $526,000.
Seller Subsidy: $0.
Settlement Date: 08/22/2016
Transaction type: Standard

Original GDoN post can be seen: here.

The listings can be seen here: here.

Year to date, the median settled price for a home in DC is $540,000. (current national median home price is $244,100.) That DC median price includes rowhomes, detached homes, condos, and co-ops. The current median price for detached homes in the District of Columbia is $930,962.

That said, it is surprising that this relatively modestly priced detached single family home defied GDoN commenters’ expectations of selling the first week on the market. (more…)

From $1 Million Fully Renovated (or $650k as is) in 2008 to $1,075,000 as is Today

By Prince Of Petworth

nostalgia t st 1 mil reno

This is wild – I found the above photo from 2008 when I was going through my photo archives and today when I was looking for a GDoN I found it listed again – in the same condition:

today

Though the price has changed at 1442 T Street, NW. Today it’s going for $1,075,000:

“LOCATION,LOCATION, LOCATION— RARE OPPORTUNITY TO PURCHASE THE PROPERTY AT 1442 T ST NW WITH PLANS FULLY APPROVED BY HISTORIC PRESERVATION FOR AN AMAZING HOME . PERMITTING IN PROCESS . PLEASE CONTACT LISTING AGENT, ELLEN KLEIN”

Sold in 30 Days – The House “Designed by Percival Emmert in 1911”

By Prince Of Petworth

GDoN-R

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: 1854 Wyoming Ave NW
Legal Subdivision: Kalorama
Advertised Subdivision per Listing: Kalorama
Bedrooms: 8 Baths: 5.5 Parking: Garage, Attached Ownership: Fee Simple
Original List Price: $2,599,000.
List Price at Contract: $2,599,000.
List Date: 06/10/2016
Days on Market: 30
Settled Sales Price: $2,500,000.
Seller Subsidy: $0.
Settlement Date: 08/05/2016
Transaction type: Standard

Original GDoN post can be seen: here.

The listings can be seen here: here.

Last week for Good Deal or Not Revisited (GDoN-R), we revisited the settled transactions of duplex condos in a converted Mount Pleasant Rowhome. What was significant about that sale was that each condo unit sold for at least $1,250,000. This puts a whole new spin on Mount Pleasant, which is largely known for being a tucked away NW DC residential neighborhood with large (and thus far largely intact) single family rowhomes.

Today’s subject is not geographically far from tree-lined Mount Pleasant (less than a mile and a half). Further south of the zoo, and close to Adams Morgan bars and restaurants, the Kalorama neighborhood is dotted with grand apartment and co-op buildings, embassies, and is where President Obama will reside with his family after January. (more…)

“The 20010 zip code made up by Park View, Columbia Heights and Mt Pleasant is actually paying 62% of their take home income on rent!”

By Prince Of Petworth

radpad-dc-income-rent
via RadPad

From an email:

“As D.C. rents continue to rise as fast as anywhere in the country, what D.C. residents are feeling it the most in the wallet?

RadPad, the apartment search and rent payment startup, decided to take a look. To do this, it examined thousands of active one-bedroom listings across zip codes in D.C. to get a median one-bedroom apartment price for each postal number.

It then utilized 2015 U.S. Census Data with help from Income by Zip Code to get median household income numbers for each of the same zip codes. From there, RadPad was able to calculate what percentage of monthly take home pay residents from each zip code (after taxes for a single filer) are spending on rent.

And here are some highlights: (more…)

Sold in 33 Days and 1 Day in Mount Pleasant – 1815 Lamont St NW, Units 1 & 2

By Prince Of Petworth

GDoN-R

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…)

Sold in Eleven Days – Logan Circle Condo

By Prince Of Petworth

1245-13th-Street-Northwest

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…)

“Bell Corner Shop for sale $2.1M”

By Prince Of Petworth

bell
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.

Metro Considers Sale of Headquarters as building “valued between $56 million and $132 million”

By Prince Of Petworth

metro hq
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…)

“It seemed like an opportunity to write about a rare bird in DC…the foreclosure sale.”

By Prince Of Petworth

GDoN R

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…)

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