What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
Deal of the Week: Investors, Proceed With Caution
2034 1st Street NW
For those investors who may be interested in this installment of Deal of the Week, UrbanTurf’s advice is proceed with caution.
The listing is a Bloomingdale row home on 1st Street NW, which is part of an estate sale and needs to be completely rehabbed. In fact, the warning above comes from the listing description which notes that interested parties should bring a flashlight and “watch your steps!!!!” an indication that the interior is not very safe for people to walk around in. What’s more is that only cash offers are being entertained, a stipulation that basically limits the buyer pool just to investors.
Despite the warnings and restrictions above, the sizable property and its location make it a good deal for the right buyer, and based on the demand for properties like this in the District, we suspect a bidding war will likely ensue. To give a sense of the home’s return-on-investment potential, a five-bedroom property a little farther north on 1st Street sold for about $680,000 late last summer.
More details below.
- Full Listing: 2034 1st Street NW (map)
- Price: $325,000
- Bedrooms: Five
- Bathrooms: Three
- Year Built: 1906
- Listing Agent: Juan Umanzor, Long & Foster
Update: The listing description said that offers would be presented on April 12, but it appears that there is already a sale pending on this home.
See other articles related to: bloomingdale, dclofts, deal of the week, investment properties
This article originally published at https://dc.urbanturf.com/articles/blog/deal_of_the_week_investors_proceed_with_caution/5392.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
- The 4 Projects In The Works Near DC's Starburst Intersection
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro