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$735,000

Beds
5
Baths
5.5
sq ft
1,492

1017 Florida Ave NE, Washington, DC 20002

1017 Florida Ave NE

WASHINGTON, DC 20002

  • 339 days on market
    • Price drop $160,000↓
Fantastic development opportunity conveniently situated near the H Street Corridor and hot NoMa/Union Market! This stately Victorian rowhouse is being delivered with stamped and permitted redevelopment plans. Great opportunity to add your design vision to the existing plans to create a stunning 2-unit gem in a prime location. The permitted configuration is for a 3-bedroom 3 bath penthouse unit with rooftop deck, and a spacious 2-bedroom 2.5-bath lower unit. Perfect for condo conversion, or grand main unit with separate income generating unit. ARV of completed project is approximately $1.6M ($900K for 3 BR Unit and $700K for 2 BR Unit). Comparables are included in documents. Purchase and develop now while infrastructure street upgrades are in-progress on Florida Ave. This will be a great property on a magnificent boulevard between H Street and NoMa, once both are complete. Interior photos are in MLS Virtual Tour.

Details

Property type

Townhouse

Est. home value

$791,110

Property condition

Fixer

Lot size

1,200 sq ft

Price per sq ft

$493

Year built

1920

Annual property taxes

$35,643

HOA

No

Price History

12/20/2023
Bright

Bright #DCDC2026852

Listed
$735,000

Schools & Community

Neighborhood: 

Near Northeast

Elementary school: 

J.O. WILSON

Middle school: 

STUART-HOBSON

High school: 

EASTERN

School district: 

DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Vertical Lend Inc

Loan start date

June 2007

Original loan amount

$544,185

Est. remaining balance

Not provided

Interest rate

6.15%

Loan type

Reverse Mortgage (Home Equity Conversion Mortgage), 80 year

Seller

Mary V Tate

Lender

Vertical Lend Inc

Loan start date

June 2007

Original loan amount

$544,185

Est. remaining balance

Not provided

Interest rate

6.15%

Loan type

Reverse Mortgage (Home Equity Conversion Mortgage), 80 year

Seller

Mary V Tate

Lender

Private

Loan start date

May 1996

Original loan amount

$50,000

Est. remaining balance

Not provided

Interest rate

7.69%

Loan type

Not Provided

Seller

Mary V Tate

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/23/2024 at 10:25 AM

Listing updated: 08/14/2024 at 4:44 AM

Listed by: Shanu T Okwesa, Equilibrium Realty, LLC Phone #: (202) 788-6049

MLS: Bright #DCDC2026852

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