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Listed by Robert C Morris III • Keller Williams Capital Properties

$700,000

Est. payment - /mo

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3 Beds

1 Bath

1,376 SqFt

New

1410 MERIDIAN PL NW Washington, DC 20010

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Jonathan Greene

jonathan@trustgreene.com +1(973) 873-0734

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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 $508

Subdivision Columbia Heights

MLS Listing ID DCDC2231594

Style Traditional

Bedrooms 3

Full Baths 1

HOA Y/N N

Abv Grd Liv Area 1,376

Year Built 1910

Annual Tax Amount $10,800

Tax Year 2025

Lot Size 1,274 Sqft

Acres 0.03

Property Sub-Type Interior Row/Townhouse

Source BRIGHT

Property Description

Public Remarks: 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 R4

Rooms

Basement Partially Finished

Main Level Bedrooms 3

Interior

Hot Water Natural Gas

Heating Hot Water

Cooling None

Fireplace N

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Story 3

Foundation Slab

Above Ground Finished SqFt 1376

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 1376

Special Listing Condition Standard

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Jonathan Greene

Broker of Record | License ID: 1433604

+1(973) 873-0734

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1410 MERIDIAN PL NW Washington, DC 20010

Jonathan Greene

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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1410 MERIDIAN PL NW