$849,900

2,810

square ft

1017 17th Place Ne

Washington, District Of Columbia 20002

Active / MLS #DCDC2187996 / Multiple Unit (2-4) / Carver / Langston

Listing information updated 3/27/2025 at 9:41am

***EXCELLENT OPPORTUNITY FOR DEVELOPER*** 100% FINANCING AVAILABLE***Welcome to 1017 17th Place NE a multiple unit apartment building located in the subdivision of Trinidad/Langston Carver, Washington DC. At current, each unit offers 2 bedroom/1 bath with extended bump out. In need of renovation and/or repairs. 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 4 vehicles. Projected Condo Project: 8 units = (8) 2-bdrm at 900 s/f each ($485 s/f), Total s/f = 7,200; ARV = $3,492,000. Projected Construction Cost: Acquisition Cost $850,000; Construction Cost: $1,188,000 ($165+ per s/f x 7,200 s/f of living area); Negotiated Broker's Fee (5%); $174,600; Carrying Cost at 13% on $850,000: $221,000 (24 months); Plans & Permits: $50,000; Legal Fees: $10,000; Total Acquisition & Construction Cost: $2,493,600; Profit: $998,400; ROR: 40%; Very HOT area for new development. Condo conversion projects next door, across the street and three doors down. ENTIRE BUILDING IS VACANT. NO TOPA INVOLVED. PHOTOS DO NOT REPRESENT CURRENT CONDITION.

Full Features

Architecture Style:

Other

Cooling System:

None

Heating System:

Forced Air

Pool:

Age:

89 Years

Water Front:

Square Feet:

2,810

Lot Size:

3744.00 Square Feet

Acreage:

0.09

Taxes & Assessments

Tax Amount:

$7,600

Tax Year:

2024

Location

Zip Code:

20002

City:

Washington

County:

Washington

Schools

School District(s):

DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Full Features Taxes & Assessments Location Schools

Architecture Style:

Other

Cooling System:

None

Heating System:

Forced Air

Pool:

Age:

89 Years

Water Front:

Square Feet:

2,810

Lot Size:

3744.00 Square Feet

Acreage:

0.09

Listing Office: Coldwell Banker Realty - Washington

Listing Office Phone: 202.387.6180

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