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1938 I St NE
1938 I St NE
1938 I St NE
1938 I St NE
SEE ALL PHOTOS
1938 I St NE
1938 I St NE
1938 I St NE
1938 I St NE
For Sale

1938 I St NE

1938 I St NE, Washington, DC 20002

$1,299,999
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 DC's 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.

20
beds

2,368 Sq.Ft. LIVING AREA

2,432 Sq.Ft. lot

Nicola Taylor

Nicola Taylor

Features & Amenities

Interior

  • total bedrooms20
  • APPLIANCES Electric Water Heater

Area & Lot

  • Status For Sale
  • Living Area2,368 Sq.Ft.
  • Lot Area2,432 Sq.Ft.
  • MLS® IDDCDC2169630
  • TypeMulti-Family
  • YEAR BUILT1942
  • Architecture StylesFederal, Mid-Century Modern, Contemporary, Colonial
  • School DistrictDISTRICT OF COLUMBIA PUBLIC SCHOOLS

Exterior

  • water SourcePublic
  • parkingOn Street
  • HEAT TYPEHot Water, Electric
  • AIR CONDITIONINGCentral Air
  • sewerPublic Sewer

Financial

  • Sales Price$1,299,999
  • Real Estate Tax $6,581/yr

Let's Work Together

As an accomplished real estate consultant and investor in the greater Washington, D.C. area, Nicola has more than thirteen years of experience. She is a radiant, warm and joyful Jamaican native who has grown her career over the past decade with an abundance of sold homes in the greater Washington D.C. area.