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7125-7127 Georgia Avenue NW

WASHINGTON, DC 20012
  • $2,000,000
  • STATUS: Active
  • ON SITE: 24 Days
  • ID#: DCDC2017326
UPDATED: 19 min ago
$2,000,000
  • 0
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,560
    SQFT
  • $781
    $/SQFT
Type:
Multi-Family
Built:
1925
County:

School Ratings & Info

Description

Looking for an ideal condo conversion project? These two side-by-side rowhomes on Georgia Ave NW across the street from the Walter Reed Development are perfectly situated in Brightwood near the Takoma Ave Metro Station. ---------------------------------------------------------------The two lots are zoned RA-2 and total 3,855 sqft. Highest and best use for these two lots is probably nine 2bd/2ba condos. According to the Zoning Load Study (available upon request), the total developable area is 10,177.20 sqft. ---------------------------------------------------------------A single 1,878 sqft lot to the north was converted into a 7 unit condo building in 2019. The 3,987 sqft lots to the south were converted into a 9 unit condo building this year and are currently for sale. Search for 7121 Georgia Ave NW to see these 2bd/2ba comparables. ---------------------------------------------------------------Another great example of new construction resale values is the recently built Brooks Condominiums located at 6803 Cameron Dr NW. These 2bd/2ba condos sold from $639,900 to $943,200. The average closed sales price was $760,114 and the average sold price/sqft was $724.14. Multiply the average sales price ($760,144) by 9 units and the ARV is $6,841,026.00. Or multiply the average price/sqft ($724.14) by the total developable area (10,177.20 sqft) and the ARV is $7,369,717.61. Either way this is a huge spread from the asking price! ---------------------------------------------------------------Thanks to its sought after location, new residents will enjoy all that Takoma has to offer: shops, restaurants, Farmer+GGs market, grocery stores, Rock Creek Park, and all the new development at The Parks at Historic Walter Reed (a one billion dollar project that will feature a combination of dining, retail, office space, and over 20 acres of open space). This lot will be directly across from parkland even after the Walter Reed Development is complete. Located on several main arteries, with quick access to downtown DC, and just a 15 minute walk to the Takoma Metro Station (Red Line), there is easy accessibility for any commuter. With a walkscore of 84 (very walkable), most errands can be accomplished on foot. And as The Parks at Historic Walter Reed are completed, that score is only going to go up. ---------------------------------------------------------------If you have a client who may be interested in this condo conversion project and would like to take a look at the current structure, please respond to this email to RSVP to either open house: OPEN Friday, November 5th, 11am-1pm and Sunday, November 7th, 2-4pm ---------------------------------------------------------------All offers considered. Offers due Tuesday November 9th at 12pm.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Crews Real Estate | EXP Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-11-26T17:49:59.927.
www.crewsrealestate.com/homes/122926462
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7125-7127 Georgia Avenue NW WASHINGTON, DC 20012

  • Price: $2,000,000
  • Status: Active
  • On Site: 24 Days
  • Updated: 19 min ago
  • ID#: DCDC2017326
0
Beds
0
Baths
0
½ Baths
0.09
Acres
2,560
SQFT
$781
$/SQFT
1925
Built
County:
Washington
School District:
District Of Columbia Public Schools
Property Description
Looking for an ideal condo conversion project? These two side-by-side rowhomes on Georgia Ave NW across the street from the Walter Reed Development are perfectly situated in Brightwood near the Takoma Ave Metro Station. ---------------------------------------------------------------The two lots are zoned RA-2 and total 3,855 sqft. Highest and best use for these two lots is probably nine 2bd/2ba condos. According to the Zoning Load Study (available upon request), the total developable area is 10,177.20 sqft. ---------------------------------------------------------------A single 1,878 sqft lot to the north was converted into a 7 unit condo building in 2019. The 3,987 sqft lots to the south were converted into a 9 unit condo building this year and are currently for sale. Search for 7121 Georgia Ave NW to see these 2bd/2ba comparables. ---------------------------------------------------------------Another great example of new construction resale values is the recently built Brooks Condominiums located at 6803 Cameron Dr NW. These 2bd/2ba condos sold from $639,900 to $943,200. The average closed sales price was $760,114 and the average sold price/sqft was $724.14. Multiply the average sales price ($760,144) by 9 units and the ARV is $6,841,026.00. Or multiply the average price/sqft ($724.14) by the total developable area (10,177.20 sqft) and the ARV is $7,369,717.61. Either way this is a huge spread from the asking price! ---------------------------------------------------------------Thanks to its sought after location, new residents will enjoy all that Takoma has to offer: shops, restaurants, Farmer+GGs market, grocery stores, Rock Creek Park, and all the new development at The Parks at Historic Walter Reed (a one billion dollar project that will feature a combination of dining, retail, office space, and over 20 acres of open space). This lot will be directly across from parkland even after the Walter Reed Development is complete. Located on several main arteries, with quick access to downtown DC, and just a 15 minute walk to the Takoma Metro Station (Red Line), there is easy accessibility for any commuter. With a walkscore of 84 (very walkable), most errands can be accomplished on foot. And as The Parks at Historic Walter Reed are completed, that score is only going to go up. ---------------------------------------------------------------If you have a client who may be interested in this condo conversion project and would like to take a look at the current structure, please respond to this email to RSVP to either open house: OPEN Friday, November 5th, 11am-1pm and Sunday, November 7th, 2-4pm ---------------------------------------------------------------All offers considered. Offers due Tuesday November 9th at 12pm.
Exterior Features

Architectural Style Traditional Construction Materials Brick Garage YN No Other Structures Above Grade Parking Types Alley Pool No Pool Riparian Rights YN No Soil Types Urban Land-Manor-Gleneig Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 2560 Cooling Central A/C Heating Forced Air Heating YN Yes Single Room Units 0 Three Bedroom Units 0 Two Bedroom Units 9

Property Features

Accessibility Features None Assessment Year 2020 Central Air YN Yes Cooling Fuel Electric Foundation Details Other Heating Fuel Natural Gas Hot Water Natural Gas Navigable Water YN N New Construction YN No Number Of Units Total 2 Original MLSNumber 801114664604 Ownership Interest Fee Simple Possession SettlementSeller Rent Back Property Sub Type Other Sale Type Standard Sewer Public Sewer Structure Design Type Interior Row/Townhouse Tax Annual Amount 5199.00 Tax Assessment Amount 904200.00 Vacation Rental YN No Water Source Public Zoning Ra-2 Zoning Description Residential Apartment Zone - The Ra-2 Zone Provides For Areas Developed With Predominantly Moderate-Density Residential.

Listing courtesy of Rlah Real Estate.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Crews Real Estate | EXP Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-11-26T17:49:59.927.
 
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