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1938 I Street NE

WASHINGTON, DC 20002
  • $1,299,999
  • STATUS: Active
  • ON SITE: 18 Days
  • ID#: DCDC2175756
UPDATED: 15 min ago
$1,299,999
  • 0
    BEDS
  • 0.06
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1942
County:

School Ratings & Info

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 DCs 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.

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©2025 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Arlington Realty, Inc.. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2025-02-11T16:53:27.167.
www.arlingtonrealtyinc.com/homes/159688116
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1938 I Street NE WASHINGTON, DC 20002

  • Price: $1,299,999
  • Status: Active
  • On Site: 18 Days
  • Updated: 15 min ago
  • ID#: DCDC2175756
0
Beds
0
Baths
0
½ Baths
0.06
Acres
1942
Built
County:
Washington
School District:
District Of Columbia Public Schools
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 DCs 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.
Exterior Features

Construction Materials Brick Garage YN No Parking Types On Street Property Condition Excellent Soil Types Chillum-Urban Land Complex Water Access YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 7414.00 Cooling Central A/C Heating Hot Water Heating YN Yes Net Square Feet 7414.00

Property Features

Acceptable Financing CashJoint VenturePrivateOtherIndustrial Development Authority Accessibility Features 2+ Access Exits Central Air YN Yes Construction Completed YN No Cooling Fuel Electric Foundation Details Concrete PerimeterOther Heating Fuel Electric Hot Water Electric Navigable Water YN N New Construction YN Yes Number Of Units Total 4 Original MLSNumber 803591734330 Ownership Interest Fee Simple Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 6581.00 Tax Lot 22 Vacation Rental YN No Water Source Public Zoning RA-2

Listing courtesy of EXP Realty, LLC: .


©2025 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Arlington Realty, Inc.. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2025-02-11T16:53:27.167.
 
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