From $78,500 to $1.1 Million in Lanier Heights

by Shilpi Paul

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As an indication of how dramatically home prices have shot up in certain parts of the District, check out this Lanier Heights home that has appreciated fourteenfold in 20 years.

We wrote about the renovated rowhouse a little over a month ago when it was listed for just south of $1 million. In addition to four bedrooms in the main house, the home has the added benefit of a one-bedroom apartment on the lower level, currently renting for $1,150 per month.

The quiet, convenient-to-the-zoo locale was likely a draw as well, and the house managed to attract a lot of attention: it recently sold for $1.13 million, $132,500 over the initial asking price of $997,500.

But most interesting is the appreciation of the home over the past few decades: in 1994, it sold for a mere $78,500.

  • Address: 1847 Ontario Place NW (map)
  • Asking Price: $997,500
  • Sales Price: $1.13 million
  • Bedrooms: Five
  • Bathrooms: 3.5
  • Year Built: 1910
  • Days on the Market: 6
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See other articles related to: under contract, lanier heights, dclofts

This article originally published at http://dc.urbanturf.com/articles/blog/from_78500_to_1.1_million_in_lanier_heights/7001

9 Comments

  1. Ryan said at 12:55 pm on Tuesday April 30, 2013:

    Sold for $78,500 in 1994.  The early and mid-90s were rough times for DC.  What was Lanier Heights like back then?

  1. Found said at 1:06 pm on Tuesday April 30, 2013:

    Wow!

    @Ryan, I lived in this area when I was in high school in the last 90s. It was a fine area, but definitely more crime back then. Wish my folks had hung on to their house!

  1. janna said at 1:14 pm on Tuesday April 30, 2013:

    I had friends living there in ‘96-‘98 and it was pretty run down - lots of student group houses, like my friends.  The area looked really bad.  It was the outer limits of our orbit as most of us poor young 20 somethings lived in dupont.  However, regarding the price difference, note that 100’s of thousands were put into that renovation.  So its not really an apples to apples comparison to say that it went from 78.5K to 1.1M.  Still an impressive jump.

  1. Sid Vicious said at 2:01 pm on Tuesday April 30, 2013:

    What Lanier Heights?  This is either Mount Pleasant or Adams Morgan.  There is no such neighborhood called Lanier Heights anymore, some of these writers are clueless.

  1. Robert said at 2:21 pm on Tuesday April 30, 2013:

    Sid,

    I have lived in LANIER HEIGHTS for 25 years, so please don’t say it no longer exists.

  1. Dave said at 3:31 pm on Tuesday April 30, 2013:

    Robert is definitely correct - Lanier Heights is a very clear cut neighborhood bounded by Admo, Mt.P and Kalorama (triangle).

  1. Janson said at 8:44 pm on Tuesday April 30, 2013:

    According to BLS, $78,500 in 1994 is equal to $123,297 now. Appreciation from $123,297 to more than a million in real terms seems to reflect a very serious change in perspective by the market on the prospects for DC. Congrats to any who lives anywhere around there, and all residents of DC. Condolences to anyone hoping to move here…

  1. Kevin said at 10:05 pm on Tuesday April 30, 2013:

    Maybe I missed an article but what area of DC can I move to (or stay since I already live off of Minnesota Ave SE DC) that will see this type of change. I’ve been in SE for a long time and I’m not seeing the positive change as the other districts :( I almost feel like giving up (the area around Sheridan Station is still struggling).

  1. Sid Vicious said at 4:35 pm on Wednesday May 1, 2013:

    Lol, people may think they live in Lanier Heights and they have every right to call their neighborhood whatever they want, but they really live in Mount Pleasant.

    Lanier Heights is not recognized in DC as a legal subdivision, it’s not even an advertised subdivision.

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