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1412 Meridian Pl
For Sale $700,000 ($391.06 per Sq Ft)
$700,000 ($391.06 per Sq Ft)
- 3 Bedrooms
- 2 Bathrooms
- 1,790 Sq Ft
- 1,271 Sq Ft
Description
Auction Property. In Cooperation with Alex Cooper Auctioneers. List price is Opening Bid At The Online Only Auction Sale To Be Held on The Auctioneers Website – Bidding begins Thursday, December 4th & ends Tuesday, December 9th, 2024 at 2:00pm. Prime Development Opportunity: 10-Unit Permit Delivered At Closing - Discover a unique investment opportunity in Columbia Heights. Two adjacent properties, 1410 and 1412 Meridian Place, offer the potential to construct a combined 10-unit building. The 5-unit, per building, plans are currently in the final stages of review, and will be delivered at closing.
Key Features: Prime Location: Ideal for residential development - • High ARV: Attractive returns on investment - • "As-Is" Sale: Flexibility in development plans. For detailed information, including budgets, plans, and drawings, please visit the documents section. Don't miss this chance to capitalize on this exceptional development opportunity. 1410 Meridian: Improved by a 1,376+/- SF townhome. 1412 Meridian Improved by a 1,790+/- SF townhome. Projected Condo Project: EXIT STRATEGY 1 - Unit 1 - 654sf - 2 Bed - Unit 2 - 598 sf - 2 Bed - Unit 3 - 570 sf - 2 Bed - Unit 4 - 631 sf - 1 Bed + Den - Unit 5 (PH) - 853 sq sf- 3 bed - 3306 sq ft total for each building - Total ARV 2,550,398.29. @ $750/sq ft - EXIT STRATEGY 2 - Rent = Avg Rent $3420 / unit - Annual rent = $205,200 - Net Rent (after 25% expenses) = $153900 - ARV (@ 6% cap) = $2,565,000 -
Projected Construction Cost: Acquisition Cost $1.000,000; for each - Construction Cost: $578,985 ($175 per s/f x 3,306 s/f of living area);Paid Fees (4%): $101,950; Carrying Cost (6%): $99,000 (12 months); Plans & Permits: $30,000 Legal Fees: $10,000 Total Acquisition/Construction Cost: $1,996,000
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $700,000 |
| Property Type | Single Family Homes |
| Usable Sqft | 1,790 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1910 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2678//0020 |
| MLS # | DCDC2231586 |
| Property ID | 322350251 |
| Lot Sqft | 1,271 |
| Zoning | R5 |
| Days on Market | 27 |
| Original List Price | Unknown |
| Date Updated | November 13, 2025 |
| Date Created | November 11, 2025 |
Listing Provided By
Robert C Morris III an agent of Keller Williams Capital Properties. Lic #SP98363211
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Data last updated: December 08, 2025.
Robert Crawford
REAL ESTATE AGENT