DC > Washington > Columbia Heights
Washington, DC 20010,1410-1412 MERIDIAN PL NW
Washington, DC 20010,1410-1412 MERIDIAN PL NW
Washington, DC 20010,1410-1412 MERIDIAN PL NW
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Simone Velvel

Simone Velvel

+1(703) 507-7614
$900,000
Est. payment /mo
3 Beds
2 Baths
1,376 SqFt
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UPDATED:

09/24/2024 08:20 PM

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 $654

Subdivision Columbia Heights

MLS Listing ID DCDC2161062

Style Traditional

Bedrooms 3

Full Baths 2

HOA Y/N N

Abv Grd Liv Area 1,376

Originating Board BRIGHT

Year Built 1910

Annual Tax Amount $5,739

Tax Year 2023

Lot Size 1,274 Sqft

Acres 0.03

Property Description

List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding begins Thursday, October 24th & ends Tuesday, October 29th, 2024 at 12:00pm. 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 = $205200, 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);
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 MU4

Rooms

Basement Other

Interior

Hot Water Other

Heating Other

Cooling Other

Fireplace N

Heat Source Other

Exterior

Water Access N

Accessibility None

Garage N

Building

Story 3

Foundation Other

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 Assessor

Special Listing Condition Auction

Read Less Info
Bright MLS (BMLS)
Listed by Matthew S Cooper • Alex Cooper Auctioneers, Inc.
agent-avatar

"Simone's passion for real estate and her love for "The DMV" are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in DC, Maryland and Virginia. "

+1(703) 507-7614

simone@thevelvelgroup.com

11003 Glueck Lane, Kensington, Maryland, 20895, USA

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1410-1412 MERIDIAN PL NW

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