Active
1938 I St NE
Washington DC, 20002
$1,199,000
$506.33 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
March 6, 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
34
Garage
No
Parking
On Street
View
No
County
WASHINGTON
Water Source
Public
Listing History
Date | Event | Price |
|---|---|---|
3/6/2025 | Price change | $1,199,000 -5% |
2/18/2025 | Price change | $1,249,000 -4% |
Listed by EXP Realty, LLC
Listing Contact: 3017929276
The IDX display contains information sourced from the Bright MLS, Inc. as of 3/6/2025. 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 3/6/2025 at 11:26 AM UTC
