Fearless Investors: DC Gov to Auction of 30+ Houses Next Week

• January 23, 2009
• 2 Comments

by Will Smith

The DC government will hold an auction next week to unload more than 30 residential properties around the city. However, to call some of these properties fixer-uppers would be generous; many of them appear to be completely uninhabitable, boarded-up shell houses. On the other hand, a few of them have the potential to be restored into beautiful row houses.

In addition to the condition of the properties themselves, the obvious risk in taking on any of these as investment projects is the location. They are spread across Ledroit Park, Shaw, Columbia Heights, Anacostia, Deanwood, Trinidad, H Street NE, and Old City 1 and 2. Potential bidders would be wise to do their homework as to the level of crime in these areas. They should probably also visit the properties in person to get a feel for the neighborhood. Without having visited any of the properties ourselves, our guess is that the Ledroit Park properties will be the most popular, both because of location and because they are the most attractive. (Make sure to read our real estate profiles of Ledroit Park, Columbia Heights, and Shaw.)

Clearly none of these are for the faint of heart, but for that very reason they could represent phenomenal investment opportunities. Of course, that all depends on what they actually sell for. But given how conservative buyers are right now, and the shape and location of some of these properties, there will likely be some great deals to be had for those with the cash and the will to make it happen.

The auction happens a week from today on Friday January 30 at 2pm. It will be held at 441 4th St., NW. Full details about the auction are available here, including a list of the properties and a PowerPoint presentation that outlines the buying process and requirements for bidders.

Following is a sampling of some of the better-looking properties:

2305 1st St. NW. Washington, DC 20001
(Ledroit Park)

3004 13th St. NW. Washington, DC 20009
(Columbia Heights)

57 Bryant St. NW. Washington, DC 20001
(Ledroit Park)

100 Bryant St. NW. Washington, DC 20001
(Ledroit Park)

And here are some of the, um, less desirable ones:

805 7th St. NE. Washington, DC 20002
(Old City I)

1819 H Place NE. Washington, DC 20002
(Trinidad)

2321 High St. SE. Washington, DC 20020
(Anacostia)

1648 U St. SE. Washington, DC 20020
(Anacostia)

This article originally published at http://dc.urbanturf.com/articles/blog/fearless_investors_dc_gov_to_auction_of_30_houses_next_week/470

2 Comments

1. IMGoph said at 10:01 am on Monday January 26, 2009:

   the first, third, and fourth houses are not in ledroit park, they are in bloomingdale.  ledroit park does not extend east of second street.  that was the limit of the neighborhood when it was laid out over 100 years ago.

1. Ted Jaditz said at 10:42 pm on Monday January 26, 2009:

   any idea of an estimate for some of these places?

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