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