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
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