1017 17TH PL NE new to site Save Request In-Person Tour Request Virtual Tour
Washington,DC 20002
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Twin/Semi-Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,810 sqft
Price per Sqft $302
MLS Listing ID DCDC2187996
Style Other
Abv Grd Liv Area 2,810
Originating Board BRIGHT
Year Built 1936
Available Date 2025-03-10
Annual Tax Amount $7,600
Tax Year 2024
Lot Size 3,744 Sqft
Acres 0.09
Property Sub-Type Twin/Semi-Detached
Property Description
***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. At current, each unit offers 2 bedroom/1 bath with extended bump out. In need of renovation and/or repairs. 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 4 vehicles. Projected Condo Project: 8 units = (8) 2-bdrm at 900 s/f each ($485 s/f), Total s/f = 7,200; ARV = $3,492,000. Projected Construction Cost: Acquisition Cost $850,000; Construction Cost: $1,188,000 ($165+ per s/f x 7,200 s/f of living area); Negotiated Broker's Fee (5%); $174,600; Carrying Cost at 12%: $489,120 (24 months); Plans & Permits: $50,000; Legal Fees: $10,000; Total Acquisition & Construction Cost: $2,761,720; Profit: $730,280; ROR: 26.4%; Very HOT area for new development. Condo conversion projects next door, across the street and three doors down. ENTIRE BUILDING IS VACANT. NO TOPA INVOLVED. PHOTOS DO NOT REPRESENT CURRENT CONDITION.
Location
State DC
County Washington
Zoning RA-2
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling None
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade,Below Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 4473//0111
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard