1938 I St NE
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1938 I St NE
10 Unit Apartment Building $1,873,169 CAD ($187,317 CAD/Unit) Washington, DC 20002
Investment Highlights
- Prime Location: Walking Distance to Restaurants, Shops, and Entertainment.
- Rare chance for investors and developers to bring a prime condo conversion to life in one of DC's hottest neighborhoods!
- Located near the vibrant H Street Corridor.
Executive Summary
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 and two stylish one-bedroom units round out the offering.
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.
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 and two stylish one-bedroom units round out the offering.
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.
Property Facts
Unit Amenities
- Air Conditioning
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Walk Score ®
Very Walkable (76)
zoning
| Zoning Code | RA-2 (Residential Apartment zone that allows for a variety of urban residential development, as long as it meets certain height, density, & area requirement) |
| RA-2 (Residential Apartment zone that allows for a variety of urban residential development, as long as it meets certain height, density, & area requirement) |
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1938 I St NE
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