• 2628 Martin Luther King Jr Ave SE, Washington, DC 20020

For Sale

Multi-Family

For Sale

This property is available for sale
0.24
Acres
$1,000,000
Sale Price
  • Year Built
    2022
  • Total Building Size
    25,000 RSF
  • Overview

    Proposed New 8-Unit Development with DCRA approved drawings! Property is in newly redeveloped business and residential corridors. 5 min walk to Anacostia metro, 10 min walk to the department of homeland security new building The property lot is 10,585 sq. Ft. The largest such lot remaining in Ward 8 for sale. The condo building is 4 stories, 8 units, 2 beds and 2.5 baths per unit, 1334 sq/ft units. $550K per unit Each unit has one (1) parking space New Ground-UP Development of 8-Unit Condo project located in Opportunity Zone, Walking blocks to Barry Farm Recreation Center and Aquatic Center, and the Anacostia Metro Station. Property is in newly redeveloped business and residential corridors. 5 min walk to Anacostia metro, 10 min walk to the department of homeland security new building The property lot is 10,585 sq. Ft. The largest such lot remaining in Ward 8 for sale. The condo building is 4 stories, 8 units, 2 beds and 2.5 baths per unit, 1334 sq/ft units. $550K per unit Each unit has one (1) parking space Permits approved for the building plans, water and sewer works, and roadway management work. All major permits approved and the fees due DCRA total $83K. DCRA processing takes 12 weeks. Easement entitlement for private road access has been secured and is owned by the church. The Local ANC is already in support of this 8 unit building development. The Profit potential for buyers with their own construction money is $1.2M - $1.5M. Pre-Sale Marketing has generated six (6) buyers interested in the units at a purchase price of $550K per unit. The Developer's architect and other related professionals have agreed to remain on to ensure a smooth transition of the project as necessary The Civil plans and renderings are attached.

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Property Details

8 - Unit Condo Development with Approved drawings

Proposed New 8-Unit Development with DCRA approved drawings! Property is in newly redeveloped business and residential corridors. 5 min walk to Anacostia metro, 10 min walk to the department of homeland security new building The property lot is 10,585 sq. Ft. The largest such lot remaining in Ward 8 for sale. The condo building is 4 stories, 8 units, 2 beds and 2.5 baths per unit, 1334 sq/ft units. $550K per unit Each unit has one (1) parking space New Ground-UP Development of 8-Unit Condo project located in Opportunity Zone, Walking blocks to Barry Farm Recreation Center and Aquatic Center, and the Anacostia Metro Station. Property is in newly redeveloped business and residential corridors. 5 min walk to Anacostia metro, 10 min walk to the department of homeland security new building The property lot is 10,585 sq. Ft. The largest such lot remaining in Ward 8 for sale. The condo building is 4 stories, 8 units, 2 beds and 2.5 baths per unit, 1334 sq/ft units. $550K per unit Each unit has one (1) parking space Permits approved for the building plans, water and sewer works, and roadway management work. All major permits approved and the fees due DCRA total $83K. DCRA processing takes 12 weeks. Easement entitlement for private road access has been secured and is owned by the church. The Local ANC is already in support of this 8 unit building development. The Profit potential for buyers with their own construction money is $1.2M - $1.5M. Pre-Sale Marketing has generated six (6) buyers interested in the units at a purchase price of $550K per unit. The Developer's architect and other related professionals have agreed to remain on to ensure a smooth transition of the project as necessary The Civil plans and renderings are attached.

  • Property Type
    Multi-Family
  • Submarket
  • Year Built
    2022
  • Sale Price
    $1,000,000
  • Total Building Size
    25,000RSF
  • Total Acres
    0.24
  • Sale Status
    Available
  • Last updated
    Mar 13, 2021
  • Property ID
    2184576