1412 MERIDIAN PL NW new to site Save Request In-Person Tour Request Virtual Tour
Washington,DC 20010
Key Details
Property Type Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 1,790 sqft
Price per Sqft $391
Subdivision Columbia Heights
MLS Listing ID DCDC2231586
Style Traditional
Bedrooms 3
Full Baths 2
Year Built 1910
Annual Tax Amount $10,800
Tax Year 2025
Lot Size 1,271 Sqft
Property Sub-Type Interior Row/Townhouse
Property Description
Auction Property. In Cooperation with Alex Cooper Auctioneers. List price is Opening Bid At The Online Only Auction Sale To Be Held on The Auctioneers Website – Bidding begins Thursday, December 4th & ends Tuesday, December 9th, 2024 at 2:00pm. Prime Development Opportunity: 10-Unit Permit Delivered At Closing - Discover a unique investment opportunity in Columbia Heights. Two adjacent properties, 1410 and 1412 Meridian Place, offer the potential to construct a combined 10-unit building. The 5-unit, per building, plans are currently in the final stages of review, and will be delivered at closing.
Key Features: Prime Location: Ideal for residential development - • High ARV: Attractive returns on investment - • "As-Is" Sale: Flexibility in development plans. 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 = $205,200 - 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);Paid Fees (4%): $101,950; 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 R5
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling None
Fireplaces Number 2
Exterior
Water Access N
Building
Story 3
Foundation Slab
Sewer Public Sewer
Water Public
New Construction N
Schools
High Schools Columbia Heights Education Campus
School District District Of Columbia Public Schools
Others
Acceptable Financing Cash,FHA 203(b),Private,Wrap,Bank Portfolio
Listing Terms Cash,FHA 203(b),Private,Wrap,Bank Portfolio
Special Listing Condition Standard