November 17th, 2010 UPDATE – The property is under contract to be developed as condos. Read October 25th 2010 UPDATE on where the deal is headed!
So I think everyone has been waiting to hear this UPDATE! The Seller has just notified me that they would like to offer SELLER FINANCING ( TERMS / CONDITIONS APPLY)
As 3324 18th St NW has been on and off on the market over the years this will be your last chance at being able to get that offer in, so start making those calls and let your agent know about your interest.
Let us know what you think of this OPPORTUNITY!
Michael Kiefer
Green DC Realty
Realtors DC/MD/VA
www.greenDCrealty.com
240.481.5041
Well its not often a home of this stature comes available in Mt. Pleasant or in Washington DC in general. Overall this really is a unique opportunity to say the least. It’s definitely not your average home as it is filled with an amazing amount of historic character and space to roam around in.
Virtual Property Tour on Flicker >>
Click Through Twice To Review PDF On Property
Architectural photo tour of house by Michael K. Wilkinson
The Story…..
Four stories, stand alone, single family home built in 1907 on the center of a 12,000 sq. ft. square lot on the corner of 18th St. and Monroe St in Mt. Pleasant. The house is approximately 9,600 sq.ft. and was commissioned by Edward Schaeffer for his family. Has a wrap around wood porch which extends the full length of the east and south sides of the building. Exterior walls are brick in Flemish bond pattern with a darker shade glazed brick on the header position. Hip roof (with ridge) has rare unique green shade Spanish clay tiles and traditional roof dormers. Hot water radiator heating system throughout the house. Main entrance to the house is on 18th street. Driveway runs along west property line leads to a 2 story brick carriage house (approx. 800 sq.ft), which has enough room for 2 cars. Hip roof has original metal Spanish tile and symmetrical wall dormers.
This is your chance to see the house and let your curiosity run wild.
Currently the house is priced at $1,750,000 and we are curious as to what you think about this?
Beautiful space… but needs quite a bit of work, doesn’t it? Didn’t the big mansion at corner of Park and 18th just sell for a hair above $700k? And it’s much better condition… I’d do $800k…
Mt. Pleasant Habitant – which property on Park Rd were you referring to? Was it 1731 Park RD the large four square detached property?
I think Mt Pleasant Habitant means the white Dutch colonial across the street. But that house is smaller, I believe.
It will be very difficult to get more than $1 million for this gorgeous property because of the structural issues and substantial water damage and rot.
A better comparable would be the yellow house on Park Rd when it changed hands several years ago. Though updates were needed for that home, it was in good shape and was well cared for.
I understand that maintenance/repairs for a historic home are costly, but it is just so sad to see how neglected this property is. I believe that is going to scare a lot potential buyers away.
But for those with the means and patience, it is a truly great family home. The rooms are well laid out for a house of that time. Great workmanship. Great lot, driveway plus carriage house. It is truly a gem. Other than the size of the kitchen, the layout of the home would work well for modern life.
Daisy,
Some excellent points there and to address both properties
3303 18th St NW sold for $730,000 back in November 2009
1935 Park RD sold for $740,000 back in June 2007
I was under the impression Green DC Reality was renovating the space and turning it “Green”. How does this property fall in line with your mission statement? Pricing wise, in my opinion, I’d probably start at $1.5M and take into consideration the amount of time, money and manpower it will take to turn this house around…probably looking at another $1M+ on top of the purchase price, so overall we’re talking $2.5M for 12,000 sq. ft. overall, and 9,600 sq. ft. of living space in Mt.Pleasant…huge investement opportunity for somebody who can afford! This house could sell for double the purchase price easy if it were renovated, LEED Certified and the buyer had time to sit on the property for 5 or so years. I live on Kenyon St., Mt. P, our house is currently valued at $700K and is probably the size of the carriage house alone.
Alice,
Thank you for your post and I appreciate your questions. The blog was set up to create the discussion around the property so that ideas could be shared with the seller but even more amongst the community at large.
The property as you noted presents some unique opportunities and challenges for the next home owner.
As with all real estate there is a list price and there is the agreed upon sales price between the buyer and seller. Any serious buyer would have to take into consideration the extent of the required repairs and base their offer of that.
As per our mission at Green DC Realty, it is to make sure that we convey as much information as possible about “green building” and as you might understand this particular home has the ability to become a shining example as a “green” showcase if the next owner chooses to do so.
We would invite the next home owner to use us as a resource when putting their vision together, so that we can make sure the renovation reaches its potential as an example of what is ultimately possible with a 100 year old home.
We have a stellar article set to come out tomorrow on the Mt. Pleasant Solar co-op in Prince of Petworth blog and so I will post it up here when it comes out.
Thank you again for your post.
Hello Michael,
I am a filmmaker currently scouting locations for a quiet sci-fi/supernatural mystery. I live in South Carolina and was in Mt Pleasant just a few weeks ago looking at another location on Irving st nw.
Who knows who will own the house by the time we are in production (Sept-Oct 2011) but would the current owners entertain an offer to simply rent the space for 25-35 days for the making of a feature film??
Also, I would be very interested to see pictures of the basement if you have any.
We will be in pre-production for at least another six months. No decisions on location will be finalized until then at the earliest
Thank You In Advance
Mike T.