Address
7125-7127 Georgia Avenue NW Washington, DC
Price
$ 2,000,000
Property Attributes
  • MLS#DCDC2017326
  • TypeMulti-Family
  • CountyWASHINGTON
  • CityWashington
  • Zip20012
  • StyleTraditional
  • Year Built1925
  • Taxes$ 5199
  • Price$ 2,000,000
  • Bedrooms18
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size3,920 SqFt
Listing Provided Courtesy Of:
RLAH Real Estate
Data Source:
Bright MLS - 382 - MD
Property Description

Looking for an ideal condo conversion project? These two side-by-side rowhomes on Georgia Ave NW across the street from the Walter Reed Development are perfectly situated in Brightwood near the Takoma Ave Metro Station. --------------------------------------------------------------- The two lots are zoned RA-2 and total 3,855 sqft. Highest and best use for these two lots is probably nine 2bd/2ba condos. According to the Zoning Load Study (available upon request), the total developable area is 10,177.20 sqft. --------------------------------------------------------------- A single 1,878 sqft lot to the north was converted into a 7 unit condo building in 2019. The 3,987 sqft lots to the south were converted into a 9 unit condo building this year and are currently for sale. Search for 7121 Georgia Ave NW to see these 2bd/2ba comparables. --------------------------------------------------------------- Another great example of new construction resale values is the recently built Brooks Condominiums located at 6803 Cameron Dr NW. These 2bd/2ba condos sold from $639,900 to $943,200. The average closed sales price was $760,114 and the average sold price/sqft was $724.14. Multiply the average sales price ($760,144) by 9 units and the ARV is $6,841,026.00. Or multiply the average price/sqft ($724.14) by the total developable area (10,177.20 sqft) and the ARV is $7,369,717.61. Either way this is a huge spread from the asking price! --------------------------------------------------------------- Thanks to its sought after location, new residents will enjoy all that Takoma has to offer: shops, restaurants, Farmer’s market, grocery stores, Rock Creek Park, and all the new development at The Parks at Historic Walter Reed (a one billion dollar project that will feature a combination of dining, retail, office space, and over 20 acres of open space). This lot will be directly across from parkland even after the Walter Reed Development is complete. Located on several main arteries, with quick access to downtown DC, and just a 15 minute walk to the Takoma Metro Station (Red Line), there is easy accessibility for any commuter. With a walkscore of 84 (very walkable), most errands can be accomplished on foot. And as The Parks at Historic Walter Reed are completed, that score is only going to go up. --------------------------------------------------------------- If you have a client who may be interested in this condo conversion project and would like to take a look at the current structure, please respond to this email to RSVP to either open house: OPEN Friday, November 5th, 11am-1pm and Sunday, November 7th, 2-4pm --------------------------------------------------------------- All offers considered. Offers due Tuesday November 9th at 12pm.

Price History
11/1/2021 Listed $2,000,000

General Features

Accessibility None
Architectural Style Traditional
Construction Materials Brick
Cool Fuel Electric
Cooling Central A/C
County WASHINGTON
Days on Market 28
Garage Y/N No
Heating Forced Air
Lot Size Square Feet 3855.00
New Construction No
Other Structures Above Grade
Ownership Fee Simple
Pool Y/N No Pool
Possession Settlement, Seller Rent Back
Price Per Sq Ft 781.25
Property SubType Other
Property Type Multi-Family
School District DISTRICT OF COLUMBIA PUBLIC SCHOOLS
School District 121140357950
Sewer Public Sewer
Structure Type Interior Row/Townhouse
Tax Annual Amount 5199.0
Tax Year 2020
Total Units 2
Two Bedroom 9
Vacation Rental Y/N No
Water Access Y/N No
Zoning RA-2
Zoning Description Residential Apartment Zone - The RA-2 zone provides for areas developed with predominantly moderate-density residential.

Interior Features

Central Air Y/N Yes
Heating Fuel Natural Gas
Heating Y/N Yes
Hot Water Natural Gas
Living Area 2560

Exterior Features

Foundation Details Other
Lot Size Acres 0.09
Lot Size Source Estimated
Navigable Water Y/N No
Soil Types Urban Land-Manor-Gleneig
Type of Parking Alley
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 20012

Price
AVG $9M
$2M
Taxes
AVG $15,668
$5,199
Visits
AVG 609
9
Year Built
AVG 1973
1925
Walkscore
AVG 87
84
Data Provided by Walkscore ® not using MLS data

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