Go Back ThursdayApril 18, 2013 — 1:30pm
**OPENING BID $275,000** Townhome in the "Ledroit Park" Neighborhood of NW Washington, DC Ideal for Conversion into Two Condominiums
1952 2nd St. NW, Washington, DC 20001
Great opportunity for investors to purchase a development opportunity in the "Ledroit Park" neighborhood of NW Washington. The dwelling is currently in poor condition and is in need of complete rehab.
The property has a large lot and a prospective purchaser may want to consider bumping out the rear of the property an additional 30 feet. The building currently has two electric and two gas meters in place.
Potential development options may include:
- Underpinning the cellar to create a full height lower level
- Adding a 3rd above grade level
Potential Plans - Adobe .PDF file
6% BUYERS PREMIUM ADDED TO THE HAMMER PRICE
Ground Rent: Fee Simple
Summary of terms of sale: A deposit in the form of cash, cashier's check or certified check for $20,000 is due at the time and place of sale. The deposit must be brought up to 10% of the purchase price by Friday, April 19, 2013 by 4:00 PM in the auctioneers office. Settlement is 45 days from the sale date. If payment of the balance of the purchase price or deposit is not paid within the specified period, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. The Purchaser will pay interest on the unpaid portion of the purchase price from date of sale to date of settlement at the rate of 10% per annum. All expenses, including real estate taxes, and sanitary and/or metropolitan district charges, are to be adjusted to date of sale and assumed thereafter by the purchaser. Cost of all documentary stamps, settlement costs and transfer taxes to be paid by the purchaser. The property will be sold in "As is" condition without express or implied warranty as to the nature and description of the improvements. The property will be sold subject to easements, agreements, restrictions or covenants of record affecting the same, if any. Dimensions and acreage are more or less. Time is of the essence as to the terms of this contract.
The information contained herein was obtained from sources deemed reliable, but is offered for informational purposes only. The Auctioneer, the Sellers, and their respective agents and representatives do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection.