SoldJul 21, 2025

Listed by Alvin Rice from Coldwell Banker Realty

Source: Bright MLS #DCDC2187996

1017 17th Place Northeast, Washington, DC, 20002

$760,000

8
2810 sq. ft.
3744 sq. ft.

Duplex

•

30+ days on the market

Sold: Jul 21, 2025

What's around 1017 17th Place Northeast

About this property

***EXCELLENT OPPORTUNITY FOR DEVELOPER*** 100% FINANCING AVAILABLE***Welcome to 1017 17th Place NE a multiple unit apartment building located in the subdivision of Trinidad/Langston Carver, Washington DC. At current, each unit offers 2 bedroom/1 bath with extended bump out. In need of renovation and/or repairs. Excellent opportunity for a multiple unit condo conversion. Lot size: 3,744 s/f; Zoning RA-2; NO PLANS OR PERMITS. Very deep rear yard. Parking up to 4 vehicles. Projected Condo Project: 8 units = (8) 2-bdrm at 900 s/f each ($485 s/f), Total s/f = 7,200; ARV = $3,492,000. Projected Construction Cost: Acquisition Cost $850,000; Construction Cost: $1,188,000 ($165+ per s/f x 7,200 s/f of living area); Negotiated Broker’s Fee (5%); $174,600; Carrying Cost at 13% on $850,000: $221,000 (24 months); Plans & Permits: $50,000; Legal Fees: $10,000; Total Acquisition & Construction Cost: $2,493,600; Profit: $998,400; ROR: 40%; Very HOT area for new development. Condo conversion projects next door, across the street and three doors down. ENTIRE BUILDING IS VACANT. NO TOPA INVOLVED. PHOTOS DO NOT REPRESENT CURRENT CONDITION.

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