UPDATED:
11/04/2024 09:58 AM
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $153
Subdivision Woodridge
MLS Listing ID DCDC2151816
Style Other
Bedrooms 5
Full Baths 2
HOA Y/N N
Abv Grd Liv Area 3,500
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $1,451
Tax Year 2023
Lot Size 0.328 Acres
Acres 0.33
Property Description
Discover an incredible investment opportunity with this property offering significant potential. The existing home spans 5,000 sq ft and includes 5 bedrooms and 2 bathrooms. It is a blank canvas, needing a full rehab down to the studs. An added bonus is the garage, which has the potential to be converted into an Accessory Dwelling Unit (ADU).
The property sits on four plots totaling 14,300 sq ft, providing ample space for various development options.
Investment Opportunities:
Rehab & Convert: Rehab the current home and convert the garage into an ADU. Rehab quotes are estimated at $250,000, with an After Repair Value (ARV) of approximately $1.5 million.
New Construction: Alternatively, you can build 2-3 duplexes on the land, with each unit having a resale value of around $950,000. Legal and contractor consultations have already been completed, and an architect and contractor are ready to start the project.
This property offers a unique chance to maximize your return on investment through either rehabilitation or new construction. Don’t miss out on this exceptional opportunity!
Location
State DC
County Washington
Zoning R
Rooms
Basement Full
Main Level Bedrooms 5
Interior
Hot Water Other
Heating None
Cooling None
Fireplaces Number 1
Fireplace Y
Heat Source None
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type Driveway
Garage N
Building
Story 3
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories 3
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Senior Community No
Tax ID 4360//0808
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Private
Listing Terms Cash, Private
Financing Cash,Private
Special Listing Condition Standard
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