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Key Details
Sold Price $4,260,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 14,641 sqft
Price per Sqft $290
Subdivision Adams Morgan
MLS Listing ID DCDC2079816
Sold Date 07/26/23
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $61,930
Tax Year 2022
Lot Size 4,113 Sqft
Acres 0.09
Property Description
Excellent investment opportunity to purchase three adjacent three-story, mixed-use buildings in Adams Morgan! This outstanding location fronts directly to 18th Street among a wide variety of restaurants, bars, and retail shops! The property consists of commercial spaces at street level and six residential apartments on the second and third floors. The retail spaces offer window frontage to 18th Street and range between 1,900 and 2,100 square feet. The residential unit mix is comprised of three 2-bedroom units (average 900 sq ft each) and three 3-bedroom units (average 1,050 sq ft each). All three buildings are offered for sale together as a single portfolio and not individually. In total, the buildings contain 14,641 square feet according to the tax records, with 11,920 square feet of usable building area on a 4,113 sq ft parcel.
The properties are being sold subject to the terms of the pending offer detailed in the Sale Motion. Each bidder is bidding based on the terms and conditions set forth in the Sale Motion with the next highest acceptable bid being $4,100,000. All sales are subject to the approval of the US Bankruptcy Court.
The location is within walking distance of Kalorama Park, with the larger Walter Pierce Park and Meridian Hill Parks just a few blocks further away. There's multifamily across the street and elsewhere in the neighborhood. Neighboring businesses include Capital Blossom Day Spa, The Game sports pub, Rise Bakery, Mediterranean Spot, Amerstdam Falafal, Los Cuates Cantina, Isshin Asian Bistro, and many more.
The property is situated in a MU-5A zone. The MU-5 zones are intended for medium-density, compact mixed-use development with an emphasis on residential uses, and to provide facilities for shopping and business needs, housing, and mixed-uses for large segments of the District of Columbia outside of the central core. The land uses in the MU-5A zone permits multifamily, office, retail, and arts uses as of right, and are typically located on arterial streets, in uptown and regional centers, and at rapid transit stops.
All sales are subject to US Bankruptcy Court approval.
Location
State DC
County Washington
Zoning MU-5A
Interior
Hot Water Electric
Heating Baseboard - Hot Water
Cooling Ceiling Fan(s), Central A/C
Heat Source Electric
Exterior
Utilities Available Electric Available, Cable TV, Natural Gas Available, Sewer Available, Water Available
Water Access N
View City, Street
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Oyster-Adams Bilingual School
Middle Schools Oyster-Adams Bilingual School
High Schools Jackson-Reed
School District District Of Columbia Public Schools
Others
Tax ID 2551//0035, 2551//0036, 2551//0037
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Third Party Approval, Bankruptcy
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