Active

1938 I St NE

Washington DC, 20002

$1,299,999


$548.99 per sqft

Active

20 Beds

2,368 sqft

Multi-family

Built in 1942

Discover a prime condo conversion development opportunity in NE DC, strategically positioned near the vibrant H Street corridor. This VACANT (NO TOPA) 4-unit multi-family building comes ready for transformation, with Approved Plans and a recently issued Building Permit to construct 10 luxury condo units spanning a cellar, four floors, and a penthouse (PH) level. Additionally, the property includes two dedicated parking spaces.

The development is designed to attract discerning buyers and investors, featuring:

Two expansive three-bedroom penthouse units, each spread over the 4th floor and penthouse level.

Six thoughtfully designed two-bedroom units.

Two stylish one-bedroom units.

With a projected construction cost estimated between $1.2M - $1.5M, this development offers a potential sales range from $3.4M - $3.9M. The anticipated ARV is based on $580/sqft to $670/sqft, ensuring a strong return on investment. The total gross area for the 10 units is 7,414 sqft, with a net living space of 5,862 sqft.

Plans have been meticulously prepared by 2Plys Architecture, a firm renowned for their expertise in multifamily condo conversions in DC. This project is truly shovel-ready with all plans and permits in place, making it an exceptional opportunity for developers looking to make an immediate impact in one of DC's most desirable locations.

Act now to seize this turn-key development opportunity and position yourself for impressive returns in the dynamic NE DC market. Contact us today for more details and to schedule a viewing.

DCDC2178870

MLS ID

February 1, 2025

Listed

February 12, 2025

Updated

Interior Features

Bedrooms

20


Appliances

Electric Water Heater


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Hot Water, Electric

Exterior/Building Features

Lot Size

0.06 Acres


Architectural Style

Federal, Mid-Century Modern, Contemporary, Colonial


Sewer

Public Sewer

School Information

School District

DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Other Property Details

Taxes

$6,581


Tax Frequency

Annually


Days on Market

11


Garage

No


Parking

On Street


View

No


County

WASHINGTON


Water Source

Public


Pool

No

Listed by EXP Realty, LLC
Listing Contact: 3017929276 

The IDX display contains information sourced from the Bright MLS, Inc. as of 2/12/2025. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 2/12/2025 at 2:56 PM UTC

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