As an indication of how dramatically home prices have shot up in certain parts of the District, check out this Lanier Heights home that has appreciated fourteenfold in 20 years.
We wrote about the renovated rowhouse a little over a month ago when it was listed for just south of $1 million. In addition to four bedrooms in the main house, the home has the added benefit of a one-bedroom apartment on the lower level, currently renting for $1,150 per month.
The quiet, convenient-to-the-zoo locale was likely a draw as well, and the house managed to attract a lot of attention: it recently sold for $1.13 million, $132,500 over the initial asking price of $997,500.
But most interesting is the appreciation of the home over the past few decades: in 1994, it sold for a mere $78,500.
- Address: 1847 Ontario Place NW (map)
- Asking Price: $997,500
- Sales Price: $1.13 million
- Bedrooms: Five
- Bathrooms: 3.5
- Year Built: 1910
- Days on the Market: 6
This article originally published at http://dc.urbanturf.com/articles/blog/from_78500_to_1.1_million_in_lanier_heights/7001
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »
A look around DC to find the most equity-rich neighborhoods.... read »
Just a month after setting a new high in March, the value of a house in DC skyrockete... read »
The National Capital Planning Commission will consider approval of the final master p... read »
Our guide for amateur landlords who don't really know what they're doing.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
When you buy a home in the District, you will have to pay property taxes along with y... read »
The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »
Brookfield Properties is moving forward with development plans for additional sites i... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro