Arlington agent here. I sell many improved homes in the $1m to $1.8m range to first time homebuyers. Arlington has a lot of young people with tech money. |
| Did anyone notice there is a proposed 6-plex on one lot on 7th St S, and then another 6-plex for the lot right next to it? That seems like a lot. Wouldn't like to be a neighbor next to a defacto 12-plex. But I don't know the area too well if it makes sense in that spot. |
This is an interesting question. I’m not sure MMH is the pivotal issue though b/c at that price point it’s very high for a tear down but still needs a ton of work. Like I bet you could easily sink 400-500k into adding on and updating everything which gets you up to spending $1.7-1.8ish. And for that you could buy something newer or already updated without living through a renovation. This tear down vs. renovate issue exists regardless of missing middle. If it is torn down, the lot is rather small for a multiplex. Would it make sense to build one SFH or try to build a duplex or triplex? I don’t know the answer to that yet. |
If they're on decent lots those could be tear downs for either SFHs or MF housing. |
It's a tough lot to build on because it's small, but that generally was the going rate for tear downs in that area. |
Someone was on here last week claiming they filed an application for MMH on a street in that neighborhood that also has small lots. No clue what kind of units they are building but I doubt someone would come on here and make that up. Will be interesting to see if it’s a duplex or triplex or more. |
I agree. I’m an empty nester who bought a 1.5m down size townhouse 6 years ago. We were deciding between a 2M condo and a townhouse at the time. I was surprised to learn about a 3rd of the units, about 10, were purchased by 20 somethings whose parents bought it for them. |
So not exactly "entry level" if they couldn't afford to buy it themselves. |
I’m the PP. Wow, is it really? I live in N Arlington (but closer to Westover) and tear downs still go for under $1m for the most part. I didn’t relative it was quite so high in Lyon Village. It still seems like a lot of money to drop either way on having to tear down or do a major reno still. Based on the street view, it doesn’t look like a ton of new construction, which may be due to the lot size and being hard to build something new. So my vote is it will be a reno and MMH won’t really affect the outcome. But then again who knows! |
Lyon village has been the most expensive neighborhood per square foot for years so the lots reflect this. I’ve seen up to 1.5M. |
Yup. For a good lot, tear downs can go for even more than that. There are some new builds/renovations around the corner. I'm guessing this will just be a regular renovation because the lot is so small. Or maybe a renovation to build out two units - the main house plus rebuild the garage as an ADU. |
I'm thinking stacked duplex, but we shall see |
I thought duplexes had to be side-by-side. Was it stacked townhomes that were eliminated? I thought something stacked was discussed and eliminated. |
I also sell tear down lots and some in that price range. All have been in bad shape. |
Under Arlington’s building code, a duplex is a stacked structure. What many think of as side by side duplexes are called “semi-detached” in the code Under MM, Arlington eliminated eight plexes but kept two to six plexes. |