1017 Florida AveWashington, DC 20002

Property Details for 1017 Florida Ave

Year built

1920

Lot size

0.03 AC

Property size (Sq ft)

2,613 SF

Property type

Apartment buildings

Description

This vacant, two-unit apartment building at 1017 Florida Avenue NE, Washington, DC 20002, presents a compelling redevelopment opportunity. The 2,613 square foot property, built in 1920, sits on a 0.03-acre lot (APN 15992475) and is zoned RF-1. Approved plans are in place for conversion into a stunning two-unit condominium, featuring a three-bedroom, three-bathroom penthouse unit with a rooftop deck, and a spacious two-bedroom, 2.5-bathroom lower unit. This prime location near the H Street Corridor and NoMa/Union Market offers significant potential for appreciation. The current asking price is $735,000, with an estimated after repair value (ARV) of approximately $1.6 million. Infrastructure upgrades are currently underway on Florida Avenue, further enhancing the property's future value. This is an exceptional chance to capitalize on a burgeoning neighborhood and create a high-value asset. The property is currently vacant, allowing for immediate commencement of the redevelopment project. This presents a unique opportunity for investors seeking a high-return project in a rapidly appreciating area of Washington, D.C.

Location Insight

City

Washington

County

District of Columbia

State

DC

Latitude

38.9034

Longitude

-76.9921

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