503 Kennedy Street NW

    WASHINGTON, DC 20011
    • $1,050,000
    • STATUS: Active Under Contract
    • ON SITE: 16 days
    • ID#: DCDC458314
    Under Contract
    UPDATED: 18 min ago
    $1,050,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1928
    County:

    School Ratings & Info

    Description

    INCREDIBLE DEVELOPMENT OPPORTUNITY ON KENNEDY STREET! Two MU-4 lots at 501 and 503 Kennedy St, in an OPPORTUNITY ZONE with a total of 4632 sq ft lot size, up to 13,896 sq ft allowed above ground, are available in the vibrant and dynamic Kennedy Street corridor. Qualified investments may have all future gain TAX-FREE using the new tax laws; consult your tax advisor. Current sale prices per square foot are $450-550, so do the math-- there is up to $8.5M in revenue possible with this project (not guaranteed). The area is on fire with new development, restaurants, bars and even a grocery store just half a block away. DO NOT MISS THIS OPPORTUNITY to make your mark on the Kennedy Street landscape! Properties sold As-Is and no seller financing will be considered- cash due upon settlement.

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-02-27T23:53:15.06.
    www.therifflegroup.com/homes/103130031

    503 Kennedy Street NW WASHINGTON, DC 20011

    • Price: $1,050,000
    • Status: Active Under Contract
    • Updated: 18 min ago
    • ID#: DCDC458314
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    1928
    Built
    Neighborhood:
    Brightwood
    County:
    Washington
    School District:
    District Of Columbia Public Schools
    Property Description
    INCREDIBLE DEVELOPMENT OPPORTUNITY ON KENNEDY STREET! Two MU-4 lots at 501 and 503 Kennedy St, in an OPPORTUNITY ZONE with a total of 4632 sq ft lot size, up to 13,896 sq ft allowed above ground, are available in the vibrant and dynamic Kennedy Street corridor. Qualified investments may have all future gain TAX-FREE using the new tax laws; consult your tax advisor. Current sale prices per square foot are $450-550, so do the math-- there is up to $8.5M in revenue possible with this project (not guaranteed). The area is on fire with new development, restaurants, bars and even a grocery store just half a block away. DO NOT MISS THIS OPPORTUNITY to make your mark on the Kennedy Street landscape! Properties sold As-Is and no seller financing will be considered- cash due upon settlement.
    Exterior Features

    Construction Materials Brick Direction Faces South Garage YN No Parking Types Driveway Riparian Rights YN No Soil Types Urban Land-Sassafras-Chillum Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Building Area Total 2406.00 Cooling None Heating None Net Square Feet 2500.00

    Property Features

    Accessibility Features None Assessment Year 2019 Association YN No Business Type Supermarket/Grocery StoreRestaurant/Bar Central Air YN No Cooling Fuel None Cross Street 5TH Heating Fuel None Hot Water None Navigable Water YN N New Construction YN No Number Of Units Total 2 Original MLSNumber 304023630418 Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 4417.00 Tax Assessment Amount 381670.00 Tax Lot 83 Vacation Rental YN No Water Source Public Zoning Mu-4 Zoning Description Non-Iz: 60% Lot Occupancy And 2.5 Far60 Ft Height. IZ: 75% Lot Occupancy3 FarNo Height Limit Per Dc Zoning Handbook.

    Listing courtesy of Keller Williams Capital Properties.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-02-27T23:53:15.06.
     
    The Riffle Group of Keller Williams Select Realtors
    1997 Annapolis Exchange Parkway, Suite 500
    Annapolis MD, 21401