What $$ Buys
Recession Special: What $150K Buys in the DC Area
In these times of economic upheaval and financial belt-tightening, we decided that an article profiling properties at a very low price point was in order. These properties are all in the $150,000 range which is ideal for someone who has enough money for a $20,000 to $30,000 down payment and does not mind living in a small home or a little bit farther away from downtown DC in exchange for owning the place that they live.
Two of the three properties we chose are in DC and the third is in Alexandria. We looked very hard to find one in Maryland as well, but we did not come up with anything that was close in to DC and worth the $150,000 listing price. We believe that this is proof of how hard it is to find something suitable at this price.
- Quaint, Cozy Studio in Columbia Heights
- Petworth One-Bedroom In Need of Some Updating
- Good-Sized One-Bedroom Twenty Minutes From DC
Quaint, Cozy Studio in Columbia Heights
2639 15th Street NW
This one-bath, studio apartment is located at 2639 15th Street NW (see map here) in The Flats at The Meridian development in the southern part of Columbia Heights. As we have noted in previous articles, Columbia Heights has gone through a significant transformation in recent years. Once known for its “rough around the edges” environment, the area is now home to a retail complex that houses a Best Buy, Target and a Washington Sports Club. This property is about an eight-minute walk from the Columbia Heights Metro stop (green and yellow line).
DescriptionOf all the properties profiled in this article, this is the smallest at just 365 square feet. The photos really do it justice because there is not that much space to begin with.
It is located on the first floor of the development, but is flooded with natural light from the enormous windows that make up one wall of the living space.
When you enter the unit, you come directly into the kitchen which has the usual luxury condo package of cherry cabinets, stainless steel appliances and granite counter tops. While not big (nothing in this apartment is), the kitchen makes good use of the space that it has which includes a breakfast bar that can fit two barstools.
The new owner will either have to decide if the rest of the apartment will serve either as a bedroom with a couple chairs or a living room that has a couch which folds out into a bed. We prefer the latter set up (see photo of living room) and imagine most of our readers will as well.
There is a washer/dryer in the unit and it has all bamboo floors. The development has storage spaces for many of the units and ZipCars are available for tenants.
| Price: | $159,500 |
|---|---|
| Square Footage : | 365 |
| Condo Fees: | $150/month |
| # of Days on Market: | 78 |
* Click here for the full listing.
Living Room/Bedroom at 2639 15th Street NW
If you prioritize location over apartment size, then this is the place for you. This studio is quite small, but great for a young professional who wants to spend much more time taking advantage of some of DC’s best pedestrian offerings than staying inside the apartment itself. It is just a ten-minute walk to Adams Morgan, the U Street Corridor, Mount Pleasant, and Columbia Heights’ burgeoning retail sector. And one of DC’s best-kept secrets, Meridian Hill Park, is just a half-block away.
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