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Washington, DC 20002,1938 I ST NE
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Washington, DC 20002,1938 I ST NE
Washington, DC 20002,1938 I ST NE
Washington, DC 20002,1938 I ST NE
Washington, DC 20002,1938 I ST NE
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Lisa Jackson

Lisa Jackson

+1(717) 649-7248
$ 1,299,999
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1938 I ST NE Washington, DC 20002

7,414 SqFt

UPDATED:

02/11/2025 07:04 AM

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 7,414 sqft

Price per Sqft $175

MLS Listing ID DCDC2175756

Originating Board BRIGHT

Year Built 1942

Annual Tax Amount $6,581

Tax Year 2023

Lot Size 2,432 Sqft

Acres 0.06

Property Description

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.

Location

State DC

County Washington

Zoning RA-2

Interior

Hot Water Electric

Heating Hot Water

Cooling Central A/C

Heat Source Electric

Exterior

Garage Spaces 2.0

Water Access N

Accessibility 2+ Access Exits

Total Parking Spaces 2

Garage N

Building

Foundation Concrete Perimeter, Other

Sewer Public Sewer

Water Public

New Construction Y

Schools

School District District Of Columbia Public Schools

Others

Tax ID 4477//0022

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Cash, Joint Venture, Private, Other, Industrial Development Authority

Listing Terms Cash, Joint Venture, Private, Other, Industrial Development Authority

Financing Cash,Joint Venture,Private,Other,Industrial Development Authority

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Nicola C Taylor • EXP Realty, LLC
agent

Lisa Jackson

License ID: MD (5006876) & DE (RS-0038166)

+1(717) 649-7248

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1938 I ST NE