Active

1410-1412 Meridian Pl NW

Washington DC, 20010

$900,000


$654.07 per sqft

Active

3 Beds

2 Baths

1,376 sqft

Town House

Built in 1910

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

DCDC2161062

MLS ID

September 24, 2024

Listed

October 2, 2024

Updated

Map

1410-1412 Meridian Pl NW
Washington DC, 20010

Interior Features

Total Stories

3


Bedrooms

3


Total Bathrooms

2


Full Bathrooms

2


Fireplace

No


Cooling

No


Heating

Yes

Exterior/Building Features

Lot Size

0.03 Acres


Architectual Style

Traditional


Sewer

Public Sewer

School Information

School District

DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Other Property Details

Taxes

$5,739


Tax Frequency

Annually


Days on Market

1


Garage

No


Parking

On Street


View

No


County

WASHINGTON


Water Source

Public


Pool

No

Listed by Alex Cooper Auctioneers, Inc.
Listing Contact: 4109774711 

The IDX display contains information sourced from the Bright MLS, Inc. as of 10/2/2024. 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 10/2/2024 at 7:00 AM UTC

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