Investor Opportunity: Potential on Kenyon Street

• May 15, 2012

by UrbanTurf Staff

Courtesy of Google Maps.

When properties with some type of investment or development potential hit the local housing market these days, they usually attract a lot of attention, the listing agent is flooded with calls to schedule showings and then the property finds a buyer within about a week. We’re guessing that 715 Kenyon Street NW will follow a similar chronology.

The property, which was expanded in the past several years, consists of four bedrooms and two bathrooms on the upper level, three more bedrooms and two bathrooms on the main level, and no basement. Each level has a kitchen and the rear of the lot is paved for parking. The home was sold as-is in 2000, then again in 2005; for the past decade, it has been rented out.

The actual layout for the property doesn’t matter that much, though, as the buyer will probably convert it into something else. It is zoned R-4, which means that the site can be used for single-family residential uses (including detached, semi-detached, row dwellings, and flats), churches, public schools or projects up to six units, depending on the lot size.**

The property has already received interest from a number of parties since it hit the market at 4:30pm on Monday. When we learn what it will become, we will let you know.

Update: This property received six offers and went under contract for above the asking price.

**For additional details on R-4 zoning, click here.

• Address: 715 Kenyon Street NW (map)
• Price: $550,000
• Bedrooms: Seven
• Bathrooms: Four
• Year Built: 1911
• Listing Agent: Linda Low, Long & Foster

This article originally published at http://dc.urbanturf.com/articles/blog/investor_opportunity_potential_on_kenyon_street/5538