Reply to Are these H St. NE / Capitol Hill houses priced appropriately?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Well this one will be interesting.

It used to be one of those cute one story houses on the Hill, but a developer bought it, gutted it and turned it into a 5 bedroom that is a two bedroom apartment on the first floor and a three bedroom house on the second and third floors. Selling it all together for $1.9 million.

https://www.redfin.com/DC/Washington/1351-C-St-NE-20002/home/9913704

Setting aside the new exterior (which is a total eyesore on a block full of small 2 bedroom homes), I'm curious what people think of the developer's strategy. I just can't imagine wanting to live only in the 2nd and 3rd floor of a house I'd paid $1.9 million for - having to go upstairs, etc. But then the first floor feels unnecessarily nice for an income rental. Perhaps it works for a multigenerational family? But how many of those are there shopping on the Hill at this price point?[/quote]

When I have seen listings like this before, usually the two units are also listed separately so you have the option of buying the building or just one unit. There was one on I Street like this (I think near 11th?) last year and I was curious what would happen, but ultimately the units sold separately (the bottom unit took longer to sell, which is typical).

I personally would not want to be the landlord to a unit that large. They say in the listing you could use it as an in-law residence, Airbnb, or rental unit, and the only one that makes sense to me is the in-law unit (if you could afford it, that would actually be a pretty great set up, assuming you got along with your ILs). Renting something like that out as an Airbnb would be a part-time job and could be very annoying while living there (noise, parties, total strangers in and out of your house all the time) and long-term renters would be only a little better.

I wouldn't be surprised if we see the units listed separately in a few weeks if the seller doesn't get any bites on the building.[/quote]

23 days and counting. Seems likely they shift to listing the units separately. If they do, it will be interesting to see the pricing strategy for each unit.

It makes you wonder if they would have been better off just popping up to a single 3 or 4 bedroom home - which there is clearly a market for on the Hill.
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