UPDATED:
09/24/2024 08:20 PM
Key Details
Property Type Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 1,376 sqft
Price per Sqft $654
Subdivision Columbia Heights
MLS Listing ID DCDC2161062
Style Traditional
Bedrooms 3
Full Baths 2
HOA Y/N N
Abv Grd Liv Area 1,376
Originating Board BRIGHT
Year Built 1910
Annual Tax Amount $5,739
Tax Year 2023
Lot Size 1,274 Sqft
Acres 0.03
Property Description
For detailed information, including budgets, plans, and drawings, please visit the documents section. Don't miss this chance to capitalize on this exceptional development opportunity. 1410 Meridian: Improved by a 1,376+/- SF townhome. 1412 Meridian Improved by a 1,790+/- SF townhome. Projected Condo Project:
EXIT STRATEGY 1: Unit 1 - 654sf - 2 Bed, ,Unit 2 - 598 sf - 2 Bed, Unit 3 - 570 sf - 2 Bed, Unit 4 - 631 sf - 1 Bed + Den, Unit 5 (PH) - 853 sq sf- 3 bed, 3306 sq ft total for each building, Total ARV $2,550,398.29. @ $750/sq ft. EXIT STRATEGY 2: Rent = Avg Rent $3420 / unit, Annual rent = $205200, Net Rent (after 25% expenses) = $153900, ARV (@ 6% cap) = $2,565,000. Projected Construction Cost: Acquisition Cost $1.000,000; for each, Construction Cost: $578,985 ($175 per s/f x 3,306 s/f of living area);
Carrying Cost (6%): $99,000 (12 months); plans & Permits: $30,000, Legal Fees: $10,000, Total Acquisition/Construction Cost: $1,996,000
Location
State DC
County Washington
Zoning MU4
Rooms
Basement Other
Interior
Hot Water Other
Heating Other
Cooling Other
Fireplace N
Heat Source Other
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type On Street
Garage N
Building
Story 3
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Traditional
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 2678//0021
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Auction
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