And for a millyeon dollas this can be yours
Fooling around on Redfin I spotted a few houses east of Logan Circle going for $1 million and up. What is this Southern California?First is a penthouse condo on R Street near Logan for $1.05 mil. It comes with parking and a condo fee.
Next is, 1114 P St NW, going for 1.15 mil and on the market for over 200 days, plus a month. I gather the $71K gross rental income justifies the price, for the three unit property.
There are a few more million plus places hugging the Logan Circle, but priced above them is closer to me, is 1400 5th St NW, for S1.399 mil. I gather that the idea that one could turn the three unit building into 5 units is justification for the price. However, there is no parking, it isn't next to any amenities and more work will have to go into it, as "potential" means "gut job".
Lastly, topping off at 1.45 mil is 1120 Rhode Island Ave, NW. A single family home boasting of a lot of original features. The city thinks it's worth 1.298 million, so the taxes are about $11K a year.
Labels: real estate
posted by Mari @ 31.1.10
2 Comments:
i've been inside that last house. i don't know the first thing about actual or perceived value for places north of a million bucks, but let me just say that's one damn nice house.
I lived in the english basement of 1114 P Street from late 1992 to spring 1997. It was cold, damp, moldy and sunless, but I was young and poor then. Wouldn't ever live in a English basement again.
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