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1017 17th Place NE, Washington, DC 20002

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For Sale

$997,500

2,810 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family Home
    Property type

  • 1936
    Year built

  • $354.98
    Price per square foot

Explore this Property

***EXCELLENT OPPORTUNITY FOR DEVELOPER*** Welcome to 1017 17th Place NE a multiple unit apartment building located in the subdivision of Trinidad/Langston Carver, Washington DC. Each unit offers 1 bedroom/1 bath with extended bump out. Excellent opportunity for a multiple unit condo conversion. Lot size: 3,744 s/f; Zoning RA-2; NO PLANS OR PERMITS. Very deep rear yard. Parking up to 3-4 vehicles. Projected Condo Project: 8 units = (8) 2-bdrm at 1,074 s/f each ($483 s/f), Total s/f = 8,598; ARV = $4,152,834. Projected Construction Cost: Acquisition Cost $997,500; Construction Cost: $1,418,670 ($165+ per s/f x 8,598 s/f of living area); Paid Commissions (5%): $207 642; Carrying Cost at 8%: $302,240 (18 months); Plans & Permits: $50,000; Legal Fees: $10,000; Total Acquisition & Construction Cost: $3,038,552; Profit: $1,114,552; ROR: 36.6%; Very HOT area for new development. 3 UNITS are vacant. Unit #4 is occupied. PLEASE NOT DISTURB TENANT. PROPERTY WILL CONVEY VACANT.
MLS# DCDC2129360

Courtesy Of Coldwell Banker Dupont / Logan Circle

(202) 387-6180

Property Features

  • Cooling
    No A/C
  • Heating - Fuel Type
    Gas
  • Heating Type
    Forced Air
  • Lot Size
    0.09 Acres
  • Sewer
    Public
  • Style
    Other Style
  • Water
    City Water

Map and Directions

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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