Location, location, location is the real estate mantra, but have you ever been curious why on the same block, prices can go from bottom of the barrel to bank account busting? Well, we go By The Block, pick out the listings, and figure out why the dollars are so different.
Smell that? Take a big whiff. That's power and prestige and privilege and...Oh, sorry, wrong Ivies. This week's By The Block is all about street with big names in Columbia Heights. We're hitting up both sides of the Ivy League streets of Columbia and Harvard between 15th and 14th. On the docket is covering an entire property that could become a lucrative source of rental income, a penthouse for a baller, and two condos with similar prices but for two very different markets. So grab your thinking caps and your state diplomas and for a moment, pretend you're one of the East Coast elite.
1. 1438 Columbia Rd
Asking Price: $374,900
Square Feet: 752
What It's All About: Looks like Brandon Green of Keller Williams, one of DC's Hottest Broker contestants, is tied to this listing. This is a 2 bedroom, 2 bath first-floor condo with hardwood floors and fantastic kitchen finishes. Reduced from $399,000, the price per square foot is just under $500 and the HOA is a reasonable $330/month. The condo has been on the market for more than 3 months. And while views are not what makes this place worthwhile, maybe the "zero down no mortgage insurance financing program" or possible $500 credit does make it.
· All DC's Hottest Broker Coverage [CDC]
2. 1449 Harvard St
Asking Price: $379,000
Square Feet: 650
What It's All About: Light, bright, and airy. That's how you'd describe this 1 bedroom, 1 bath condo in the new Harvard Row boutique development. Located in a "hundred-year-old mansion" with 6 other condos, this condo has marble tiles in the bathroom, hardwood floors, exposed brick walls, and other historical elements. It's contemporary and classy all rolled into one.
3. 1466 Harvard St
Asking Price: $799,000
Square Feet: 1,593
What It's All About: This 2 bedroom, 2.5 bath penthouse in Harvard Loft is geared towards a buyer with a penchant for...how to put it..."Euro Style contemporary design". While to some that may mean IKEA and to others more CB2. The penthouse has two stories with the bedrooms on the second floor. Given the large amount of square footage, the condo fees are an incredibly reasonable $375/month, which includes cable, gas, Internet, water, and sewage. There seems to be parking in the rear, but it doesn't look like parking is inclusive with the sale of the penthouse. But however you slice it, this unit has been on the market for more than 3 months, and there's been no price movements.
· Harvard Loft [Official Site]
4. 1469 Harvard St
Asking Price: $1,350,000
Square Feet: 3,224
What It's All About: This one is certainly for an investor looking to own a rental income property. This is a 2-unit building but is currently zoned for 5 units. There are a total of 4 bedrooms and 2 baths in the 1917 three-story Beaux Arts building, but the listing highlights that 7 units can fit on the same sized lot. However, there are currently tenants occupying the building, so that could get a bit sticky. But despite that, it's true this place has "tremendous potential".
· Prior By The Blocks [CDC]
Meridian Hill Park photo from Wikipedia