3001 CHANNING ST NE Active Save Request In-Person Tour Request Virtual Tour
Washington,DC 20018
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $153
Subdivision Woodridge
MLS Listing ID DCDC2151816
Style Other
Bedrooms 5
Full Baths 2
Year Built 1925
Annual Tax Amount $1,451
Tax Year 2023
Lot Size 0.328 Acres
Property Description
Asking Price: $849,000
Discover an incredible investment opportunity with this property offering significant potential. The existing home spans 5,000 sq ft and includes 5 bedrooms and 2 bathrooms. It is a blank canvas, needing a full rehab down to the studs. An added bonus is the garage, which has the potential to be converted into an Accessory Dwelling Unit (ADU).
The property sits on four plots totaling 14,300 sq ft, providing ample space for various development options.
Investment Opportunities:
Rehab & Convert: Rehab the current home and convert the garage into an ADU. Rehab quotes are estimated at $250,000, with an After Repair Value (ARV) of approximately $1.5 million.
New Construction: Alternatively, you can build 2-3 duplexes on the land, with each unit having a resale value of around $950,000. Legal and contractor consultations have already been completed, and an architect and contractor are ready to start the project.
This property offers a unique chance to maximize your return on investment through either rehabilitation or new construction. Don?t miss out on this exceptional opportunity!
Location
State DC
County Washington
Zoning R
Interior
Hot Water Other
Heating None
Cooling None
Fireplaces Number 1
Exterior
Water Access N
Building
Story 3
Foundation Other
Sewer Public Sewer
Water Public
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Acceptable Financing Cash,Private
Listing Terms Cash,Private
Special Listing Condition Standard