About 1017 17th Pl Ne
***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.
Features of 1017 17th Pl Ne
| MLS® # | DCDC2129360 |
|---|---|
| Price | $997,500 |
| Bathrooms | 0.00 |
| Square Footage | 2,810 |
| Acres | 0.09 |
| Year Built | 1936 |
| Type | Multi-Family |
| Sub-Type | Quad, Twin/Semi-Detached |
| Style | Other |
| Status | Active Under Contract |
Community Information
| Address | 1017 17th Pl Ne |
|---|---|
| City | WASHINGTON |
| County | WASHINGTON-DC |
| State | DC |
| Zip Code | 20002 |
Amenities
| Is Waterfront | No |
|---|
Interior
| Heating | Forced Air |
|---|---|
| Cooling | None |
| Has Basement | No |
| Fireplace | No |
Exterior
| Exterior | Brick and Siding, Stone |
|---|---|
| Foundation | Brick/Mortar |
School Information
| District | DISTRICT OF COLUMBIA PUBLIC SCHOOLS |
|---|
Additional Information
| Zoning | RA-2 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Coldwell Banker Realty - Washington |
|---|---|
| Contact Info | (202) 387-6180 |
