1410-1412 Meridian Place Northwest
$900,000
3
2
1,376
1,376
$654
Description
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...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
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
- Listed by Matthew S Cooper • Alex Cooper Auctioneers, Inc.P: (410)-977-4711 Matt@alexcooper.com
Property Details for 1410-1412 Meridian Place Northwest
Tax ID Number
2678//0021
OwnershipFee Simple
Condo Coop AssociationNo
HOANo
Structure TypeInterior Row/Townhouse
StyleTraditional
Levels/Stories3
WaterfrontNo
LISTING UPDATED: 09/24/2024 04:20 PM
Property Details for 1410-1412 Meridian Place Northwest
Status | Active |
---|---|
MLS # | DCDC2161062 |
Days on Market | 59 |
Taxes | $5,739 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Townhouse |
MLS Type | Residential / Fee Simple |
Year Built | 1910 |
Lot Size | 0.03 AC / 1,274 SF |
County | District of Columbia |
Building Information for 1410-1412 Meridian Place Northwest
Stories3Residences-Year Built1910Lot Size0.03 AC / 1,274 SF
Property Information for 1410-1412 Meridian Place Northwest
Property History for 1410-1412 Meridian Place Northwest
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1410-1412 Meridian Place Northwest
This home is within District Of Columbia Public Schools.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Raymond Elementary School PublicPK to 5 | ||
MacFarland Middle School Public6 to 8 | ||
Roosevelt High School @ MacFarland Public9 to 12 | ||
Roosevelt STAY High School @ MacFarland Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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