GDoN Revisited by Hipchickindc – 1730 New Hampshire Ave NW #13

Prince Of Petworth December 2, 2011 at 11:00am

Hipchickindc is a licensed real estate broker. Her latest business venture can be seen here. Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.

Featured Property: 1730 New Hampshire Ave NW #13
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Dupont
Original List Price: $335,000.
List Price at Contract: $335,000.
List Date: 10/17/2011
Days on Market: 12
Settled Sales Price: $336,600.
Price per Square Foot: $486. (692 Square Feet per Tax Record)
Settlement Date: 11/21/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. To see the photos, after opening the listing link, scroll through the arrows on the main pic.

Originally built as a single family residence in 1893, 1730 New Hampshire Avenue NW is currently comprised of 22 condominium units divided between the historic main home and the carriage house in the back. Several of the units are accessed through a courtyard between the two structures. The courtyard area includes a number of outdoor stairways and various private and common decks. The property was developed in the mid 1990’s by Keener Squire, who also completed such notable projects as the 2006 extensive renovation and restoration of the 300+ unit Chastleton located at 16th and R St NW.

Continues after the jump.

As early as the late 1990’s, listing agents were warning prospective buyers of a high investor ratio in the building, which can make financing a challenge. This makes sense since the units tend to be on the smallish (as in easily outgrown) side and are located in a smoking hot rental market area. Currently, public records suggest that thirteen of the twenty two units are owned by investors (too soon to include this most recent sale).

This particular one bedroom, one bath unit is located in the main house, however, access to the unit is through the courtyard and up the back stairs. I visited the unit with some buyer clients, who were quite enamored with the location, as well as the fabulous high ceilings, original mantles and a working fireplace, and quirky spaces, including a tiny sunroom/den. Ultimately, my clients decided to spend an additional $75,000. to purchase an entire house with a porch and a yard in Bloomingdale.

Of the twenty two units, the most expensive was this 878 square foot two bedroom, two bathroom unit with a private roof deck, which sold in February 2010 for a net of $525,000. The listing for another unit, a two bedroom, one bathroom duplex unit which sold in 2005 for a net of $475,000. has some great pics of the cool parts of the mansion.