What $169,500 Buys You in DC: 327 Square Feet

• February 19, 2010
• 9 Comments

by Mark Wellborn

In this week’s installment of What X Buys You, we look at the $169,500 price point and find a studio apartment in the gray area neighborhood that some consider Logan Circle and others the U Street Corridor. This unit measures out at 327 square feet, small by most people’s standards, but as you can see from the photos the current owner has done a nice job with the space, and the windows offer a ton of natural light. Looking at the sales history for the unit, it also seems like quite a deal. Sold for $215,000 in 2005, the unit is now on the market at almost a 25 percent discount. More details and photos below.

• Address: 1822 15th Street NW, #1 (map)
• Price: $169,500
• Bedrooms: 0
• Bathrooms: One
• Square Footage: 327
• For the full listing, click here.

This article originally published at http://dc.urbanturf.com/articles/blog/what_169500_buys_you_in_dc_327_square_feet/1799

9 Comments

1. SeriousBuyer said at 2:56 pm on Friday February 19, 2010:

   Tight but livable, and about what I would expect from this area in terms of price per sf.

1. Janson said at 3:52 pm on Friday February 19, 2010:

   Nice light and a decent layout, but as a basement unit the $/sqft seems a bit aggressive. I guess in that price range there just isn’t much available. Thanks for showcasing it. It will be a very interesting comp when it sells.

1. Screwball said at 4:11 pm on Friday February 19, 2010:

   It’s a short sale.  Let’s remember that what a short sale often means is the owner picks a number out of a hat to bring in a buyer.  There’s no guarantee that the bank will actually accept the asking price.  So the price listed really is meaningless, unless it’s specified as already approved by the bank.  Am I right?

1. SeriousBuyer said at 4:28 pm on Friday February 19, 2010:

   Is it a short sale? It notes that it is a “potential short sale” in one listing, which makes me think that it not a full-fledged short sale just yet.

1. Screwball said at 4:37 pm on Friday February 19, 2010:

   Serious, whether it’s potential or full-on short sale probably doesn’t matter in this case.  Potential short sale means the buyer is setting a price below what they owe and hoping to strike a deal with the bank to walk away without foreclosure.  Either way, it sounds like it’s not a bank-approved price, which means the seller picked it out of thin air.

1. SeriousBuyer said at 5:36 pm on Friday February 19, 2010:

   @Screwball, thanks for the explanation. If it ends up not being short sale, it looks like a good deal.

1. SWester said at 4:36 pm on Sunday February 21, 2010:

   I think Potomac Place tower down here in SW has been selling fully renovated units starting at $180k, which is for studios probably at just under 500 feet.  I realize it’s an entirely different neighborhood, but it’s an interesting comparison.

1. Simon Landau said at 5:57 pm on Sunday February 21, 2010:

   Wow…small place but the photos make it look very well put together.  I’m gonna call in the person who designed it when I get a new place!  Great area as well…

1. Michael said at 2:56 pm on Monday February 22, 2010:

   If ventured out to the Trinidad/H Street corridor, you could find a nice sized one bedroom for around 150-175K.

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