Highlight of the Week
Highlight of the Week:
A 1,000 Square-Foot Stunner in Georgetown
Price: $629,000 — $629 per square foot
Exterior of 3022 R Street
This 1,000 square-foot property falls into that vaunted category of a place that you walk by on a leisurely Sunday and tell whoever you’re walking with “One day, I’d like to live in something like this.”
Built over 100 years ago, the two-bedroom residence sits on the first floor of a renovated townhouse that houses five other condo units. About two blocks from Wisconsin Avenue and just across the street from Montrose Park and Dumbarton Oaks, the property is not in the thick of the Georgetown hustle and bustle, but it is close enough to walk to any area establishment.
Specifics
When you walk into this condo unit, there is one big open room that serves as both the living room and dining room. In the living room section, there is a large window and a little nook that serves as a small love seat. Separating the room from the kitchen is a small window with a short island. The kitchen has been renovated and has all new appliances, but there is very little counter space, so large dinner parties would be difficult.
The master bedroom is down the hallway with a bathroom off to the side. It has a closet but is not that large. “It could fit a queen bed and dresser, but not much more,” the listing broker Eileen McGrath told UrbanTurf. Another downside to the master bedroom is a lack of natural light as there is just one small window.
The last room that leads out to the true prize for this listing, a private patio, is the second bedroom that McGrath noted actually serves a much better function. “People will be walking through this room all the time to get out to the patio, so it would be better as a den.” The room has ample natural light and views of the parks, according to McGrath.
The patio is big enough to host a modest sized barbeque and the brick flooring and tree coverage make it a very pleasant summertime amenity. There are private entrances in the front and back of the unit, and a storage and bike room in the basement that is shared with the other units.
How Does This Property Stack Up In The Area?
Surprisingly well. There is a one-bedroom listing in a similar price range at 3 Pomander Walk, on the other side of Georgetown and this is how they match up in key areas:
| 3022 R Street | 3 Pomander Walk | |
|---|---|---|
| Square Footage | 1,001 | 576 |
| Number of Bedrooms | Two | One |
| Parking Situation | Street | Street |
| Patio/Back Yard | Yes, Private | Yes, Private |
| Laundry | Yes | Yes |
| Condo Fees | $498/month | None |
Kitchen
Who Should Buy This Property?
The property taxes came out to about $4,760 for 2007 and the monthly condo fee (which includes gas and water) is $498. If the buyer can put down 15 percent or just south of 100 grand, and locks in about a 7.2% interest rate over a thirty period, the total monthly payments come out to about $4,451 a month.
So, with these numbers who should be buying?
The space is fitting for a single professional or a couple that has an annual household income north of $150,000 and has a little nest egg to put toward a down payment. “The fact that the second bedroom serves much more of a den-like purpose makes it difficult for a family to live here,” McGrath said.
What Do The Experts Say?
“This is a beautifully renovated property down to every detail, but doesn't have the cold, clinical, ultra-modern look that is so overdone these days. It has character for a buyer that seeks something unique and welcoming. The outdoor space is a great selling point, as so many condos give the feeling of living in a matchbox.”
— Shari Walker, Long and Foster sales agent specializing in Glover Park and Georgetown
Patio
Parking & Transportation
Street Parking Only. Although it is on the outskirts, the condo is still in Georgetown and finding parking when you come home from work at night could take awhile.
The 30 bus runs up Wisconsin Avenue to Glover Park, Cleveland Park and Friendship Heights. It is about a ten-minute walk to the Dupont Circle Red Line station.
Quick Answers
Closest Grocery Stores — There is the Social Safeway at 1855 Wisconsin Avenue that is about a five-minute drive from the property. If you don't mind tacking on another three minutes to your journey there is a Whole Foods Market at 2323 Wisconsin Avenue
Closest Gym — There is a Washington Sports Club at 3222 M Street about a ten-minute walk from the property.
How Long Has The Property Been on the Market? — Originally listed on 2/21/2008
Photos & Resources
- Listing for this property
- Listing Broker: Eileen McGrath of Washington Fine Properties
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