5501 7th Street Nw

Washington, DC
$ 1,050,000 Beds 4 Baths 2 Sq 2,150
Monthly Estimate* How much can I afford?

$150K PRICE DROP!! NO OTHER LARGE CORNER Opportunities Exist in the Area (WITH PARKING) An unparalleled investment opportunity to not only develop in the Iconic Kennedy Street Corridor, but to own a part of the area History. For over 50 years, the owner has been operating a Freeman’s Barber Shop & Beauty Salon making this site a staple in the community. NOTE: POTENTIAL DEVELOPMENT PLANS (RENDERINGS) SHOWN IN PICTURES: as a 8-unit Residential Building with Additional Commercial Space. Rendering and Plans have been provided by Architect MAKEBA GAINES-KELLY of Gaines Kelly Design House. MAIN ADDRESS is 5501 7th Street NW, but the front side of the property where the commercial businesses are on the Kennedy Street level has ADDRESS of 631 Kennedy Street, NW DC. (Sits directly on the corner of 7th & Kennedy Streets NW) As a Mixed-Use site (MU-4), this Huge Corner is a Prime location for a Plethora of Development Concepts and offers flexibility to keep current footing OR build upwards (increase level count) and add-on to rear (build back) for Residential and/or Commercial usage. Located in a DC Qualified HUB Zone and Has NO Leases and NO Tenants. SOLD STRICTLY AS-IS Upper Levels provide Hardwood Floors, 4 Bedrooms, a Full Bathroom, Kitchen, Rear Deck, and a large front porch (It used to be rented out for residential). Lower Street Level has 2 entrances for 2 separate businesses – both have Half Bathrooms. Current Parking in the rear for 3 vehicles. Situated on Kennedy Street and Minutes to: Rock Creek Park, many transit routes which facilitate ease to access most of the city as well as Chevy Chase, Bethesda, Takoma Park, Silver Spring and Friendship Heights. Also close proximity to an array of dining options & Cafes, and Many More Conveniences. A $10MM Kennedy Street Revitalization Plan has recently been completed, and development of 2MM SQF at nearby Art Place at Fort Totten is currently underway, with Aldi, Meow Wolf Museum, and a 24-Hour Fitness as anchor tenants. Please note, this property also listed as DCDC508928 (For Commercial). Please use COVID precautions. Live On the Upper Level(s) or Divide the Upper Levels Into 2 units, Operate a business (or 2 businesses) on Street Level, and rent the Upper Level(s). So Much Potential Here. (Please See Attached Property Analysis).

Townhouse

  • Price
  • $ 1,050,000
  • Lot Size
  • 1,742 SqFt
  • Bedrooms
  • 4
  • Sqr Footage
  • 2,150
  • Full Bathrooms
  • 1
  • Half Bathrooms
  • 2
  • City, Zip
  • Washington
  • County
  • WASHINGTON
  • Style
  • Area
  • MLS#
  • DCDC508906
  • Zip
  • 20011
Listing Provided by: TTR Sotheby's International Realty
Data Source: Bright MLS - 382 - MD

Features

General

Accessibility None
Additional Parcels Y/N No
Appliances Stove, Refrigerator, Disposal
Architectural Style Colonial
Association Y/N No
Bathrooms Count Main Level 2.00
Condo/Coop Association Y/N No
Construction Materials Brick
Cool Fuel Electric
Cooling Central A/C, Window Unit(s)
County WASHINGTON
Days on Market 59
Garage Y/N No
Heating Heat Pump(s), Radiator
High School District DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Interior Features Ceiling Fan(s), Dining Area, Floor Plan - Traditional, Formal/Separate Dining Room, Kitchen - Galley, Wood Floors
Legal Subdivision PETWORTH
Levels 3
Location Type Corner Lot/Unit
New Construction No
Other Structures Above Grade, Below Grade
Ownership Fee Simple
Possession Settlement
Price Per Sq Ft 558.14
Property Type Residential
PropertyCondition Good
Senior Community Y/N No
Sewer Public Sewer
Structure Type Interior Row/Townhouse
Subdivision Name PETWORTH
Tax Annual Amount 4404.0
Tax Lot 836
Tax Year 2020
Vacation Rental Y/N No
Water Access Y/N No
Zoning MU-4
Zoning Description Mixed use zone

Interior Features

Above Grade Finished Area 2150
Above Grade Finished Area Source Estimated
Above Grade Finished Area Unit Type Square Feet
Basement Y/N No
Bathrooms Count All Upper Levels 1
Bathrooms Count Upper Level 2 1.00
Bathrooms Full All Upper Levels 1
Bathrooms Full Upper Level 2 1
Bathrooms Half Main Level 2
Bedrooms Count All Upper Levels 4
Bedrooms Count Upper Level 2 4
Below Grade Finished Area Source Assessor
Below Grade Finished Area Unit Type Square Feet
Below Grade Unfin Area Units Square Feet
Below Grade Unfin Sqft Source Assessor
Central Air Y/N Yes
Fireplace Y/N No
Full Baths 1
Half Baths 2
Heating Fuel Natural Gas, Electric
Heating Y/N Yes
Hot Water Natural Gas
Living Area 2150
Room Type Living Room, Dining Room, Kitchen
Total Baths 3
Total Bedrooms 4

Exterior Features

Horse Y/N No
Lot Features Corner, Front Yard, Level, SideYard(s)
Lot Size Acres 0.04
Lot Size Source Assessor
Lot Size Square Feet 1742.00
Navigable Water Y/N No
Parking Features Asphalt Driveway, Paved Driveway, Paved Parking, Private
Pool Y/N No Pool
Soil Types Unknown
Total Parking Spaces 3
Type of Parking Driveway
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Hillsborough, NJ office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 2.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School
Middle School
High School

Price History

3/8/2021 Listed $1,350,000
3/31/2021 12% - $1,200,000

Property vs Zip Code Average in 20011

Price
AVG $980K
$1.2M

Map

5501 7th Street Nw Washington, DC is a Single Family Home for sale at $1200000 with 2150 sqft and a lot size of 1,742 SqFt Acre(s). 5501 7th Street Nw Washington has 4 bedrooms, 1 baths . The property's zip code is 20011 which is in Washington, DC

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 2.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided 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.