Investor Opportunity: Central African Republic Embassy For Sale

• January 17, 2011
• 2 Comments

by UrbanTurf Staff

1618 22nd Street NW

Four-level townhomes in Kalorama can easily fetch several million dollars when listed for sale, so when one hits the market for just $1.3 million, it seems like it must be a deal.

Well, the townhouse that houses the offices of the embassy of the Central African Republic at 1618 22nd Street NW (map) was listed for sale late last week for just that amount. The property is currently being used as offices, so some work would be required if the eventual buyer wanted to convert it into condos or a single-family home. Also, the listing description for the 2,775 square-foot property notes that it is “in need of work”, an indication that the building is in fairly rough shape.

All that said, its Dupont/West End location (near the corner of 22nd and R Streets NW) and its potential value as office space or condos make the property quite attractive to the right buyer.

* Image courtesy of Google Maps.

This article originally published at http://dc.urbanturf.com/articles/blog/investor_opportunity_central_african_republic_embassy_for_sale/2858

2 Comments

1. yvon mavoungou said at 12:51 am on Tuesday January 18, 2011:

   What’s this again, so where is the central African embassy now? the location has been shifted or central Africa have no representative in USA?

1. mtumba djibouti said at 10:35 am on Wednesday January 19, 2011:

   Let’s see: poor condition (likely a wreck), landlocked, no parking (deal killer), Kalorama doyennes will KILL anyone who wants to convert it to multiunit, most recent sales prices for similar size houses on same block or next block north on 22nd maxing out at under $2 million (completely renovated to the highest standard)... looking less like a deal.  If you spend $500,000 renovating (very easy to do) you’d be better off getting it for around $1m or less.  And you’d still have no parking at an intersection where roughly 30% - 50% of the street has reserved diplomat parking, just to make matters worse.

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