Go Back MLS #DC7678646
**New Top to Bottom Rehab** Capitol Hill 3 Bedroom Home with Separate Entrance Lower Level and Gated Private Parking Pad
514 3rd St. NE, Washington, DC 20002
List Price: $649,000
In The Historic District. Newly remodeled from top to bottom. 4 blocks to Union Station! Wide, open sun filled spaces, 3 floors - 2,450+/- square feet. Generous kitchen and open floor plan on main level. Rear yard with TWO gated parking spaces. Upper level contains 3 bedrooms, full bath and laundry nook.
The lower level is in "rough-in" condition with separate entrances on both the front and rear of the home. Ready for the new purchaser to build out to suit their needs the lower level is ideal for rental unit income, in-law suite, rec room or even a whole level master suite!
PLEASE NOTE: IN ORDER TO INSPECT THE PROPERTY ALL PROSPECTIVE OFFERORS MUST FILL OUT AND RETURN A WAIVER FORM PRIOR TO CONFIRMING THE INSPECTION TIME. CLICK HERE TO DOWNLOAD A COPY OF THE WAIVER.
This property is being sold by the District of Columbia Government. See below for offering instructions:
The DC Department of Housing and Community Development (DHCD) is pleased to offer two fully renovated properties for sale through listings with Alex Cooper Real Estate.
The two properties, located at 514 3rd Street, NE, and 606 Keefer Place, NW, are single-family residences. The listings of these properties will be administered by DHCD's Property Acquisition and Disposition Division (PADD). PADD was established at the beginning of fiscal year 2008 and consolidates the Homestead Housing Preservation Program, the Home Again Program, the Land and Housing Development Opportunities Program and other property acquisition and disposition functions into one division. The goal of PADD is to stabilize neighborhoods by (1) decreasing the number of vacant and abandoned properties in the District, and (2) transforming vacant and/or deteriorated properties into homeownership or economic development opportunities for District of Columbia residents at all income levels. The two properties being listed were renovated through a new PADD pilot program called the Residential Turnkey Initiative where the District retains ownership of properties during development. To further the goal of creating homeownership opportunities, entities are barred from participating in the Residential Turnkey Initiative. Offerors must be individuals or couples intending to live in the property as a principal residence for 5 years following purchase. At closing, offerors will be required to sign an affidavit affirming their intent to live in the property as their principal residence for 5 years.
Click here to view a copy of the Affidavit of Principal Residence
PADD anticipates that the renovation and sale of fully rehabbed properties to homebuyers will contribute to the efforts to eliminate slum and blight from DC neighborhoods. If you would like more information about DHCD programs please visit http://www.dhcd.dc.gov.
The proposed transactions for the purchase and sale of property owned by the District of Columbia ("District"), acting by and through the Department of Housing and Community Development, shall be governed exclusively by the Turnkey Sales Agreement.We strongly encourage and recommend that all interested offerors review the Turnkey Sales Agreement, the Waiver, the Acknowledgment of Offer letter, and the Affidavit of Principal Residence and consult with legal counsel prior to submitting an offer to purchase one of the listed properties. All offerors will be required to sign the Turnkey Sales Agreement in order to submit an offer. In addition, all offerors and offerors' agents will be required to sign the Waiver prior to entering a property for viewing purposes.
1) Offer Requirements.
ALL OFFERORS MUST BE INDIVIDUALS OR COUPLES INTENDING TO LIVE IN THE PROPERTY AS A PRINCIPAL RESIDENCE FOR 5 YEARS FOLLOWING PURCHASE.
In order to submit an offer, all offerors must provide the following:
(a) An executed Turnkey Sales Agreement with an offer price filled in on page 4.
Click here to view a copy of the Turnkey Sales Agreement
(b) Proof of purchase capacity in the form of a bank pre-approval letter in the amount of the offer price and/or personal/entity bank statements evidencing cash available in the amount of the offer price.
2) Property Viewing.
Prospective offerors will be permitted to view the properties in advance of making an offer. In order to view a property, offerors and all parties accompanying offerors will be required to sign a Waiver form. Offerors must be accompanied by a real estate agent when viewing a property, either the District's listing agent, Alex Cooper Real Estate, Inc. or offeror's selling agent. Under no circumstances are offerors to view a property without a real estate agent present.
Executed Waiver Form Delivery Instructions:
All parties planning to view a property, including selling agents must sign a waiver form prior to entering a property. Please call the District's listing agent, Alex Cooper Real Estate, Inc. at 202-834-0543 to set up an appointment to view a property. Please then fax an executed waiver form for all parties planning to view the property to 443-470-1440 or e-mail a copy of the executed form to email@example.com. Upon receipt of the executed waiver forms, the District's listing agent Alex Cooper Real Estate, Inc. will contact you to confirm your appointment to view the property. Only after receiving a confirmation call from the District's listing agent are you authorized to enter the property at your scheduled viewing time.
3) "AS IS" "WHERE IS" Disclaimer.
DISTRICT SHALL CONVEY THE PROPERTY TO THE OFFEROR IN "AS IS," "WHERE IS" CONDITION WITH ALL FAULTS AND DISTRICT MAKES NO REPRESENTATIONS OR WARRANTIES, EITHER EXPRESSED OR IMPLIED, AS TO THE CONDITION OF THE PROPERTY, AS TO THE SUITABILITY OR FITNESS OF THE PROPERTY, AS TO ANY LAW, OR ANY OTHER MATTER AFFECTING THE USE, VALUE, OCCUPANCY, OR ENJOYMENT OF THE PROPERTY, OR, EXCEPT AS SET OUT IN SECTION 3.1 OF THE TURNKEY SALES AGREEMENT, AS TO ANY OTHER MATTER WHATSOEVER. THE OFFEROR ACKNOWLEDGES THAT NEITHER DISTRICT NOR ANY EMPLOYEE, REPRESENTATIVE, OR AGENT OF DISTRICT HAS MADE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY.
4) Offer Review Timeframe.
The District will make every effort to accept or reject an offer within 3 business days of offer submission. In the event of offer acceptance, the District will send offeror an Acknowledgment of Offer letter. Per this letter, offeror will have 14 days to arrange a home inspection at offeror's expense. After 14 days, offeror will be required to inform the District if offeror elects to move forward with the purchase. If offeror elects to move forward with the purchase, the District will arrange to hold a public hearing. If offeror elects not to move forward with the purchase, both offeror and the District shall be released from any further liability or obligation.
5) Deposit Requirement.
The District is required to hold a public hearing after giving 30 days notice before the District is authorized to execute the Turnkey Sales Agreement. Within three (3) business days following the public hearing, offeror shall deliver to Alex Cooper Real Estate, Inc. a deposit in the amount of one percent (1%) of the total contract purchase price. The deposit funds may be paid in the form of a cashiers check or certified check payable to Alex Cooper Real Estate, Inc. All deposits will be held in a non-interest bearing account by Alex Cooper Real Estate, Inc. The deposit shall be credited to the purchase price at closing.
6) After the Public Hearing.
Within 60 days following the public hearing, offeror will be required to close on the purchase of the property. Within 14 days of the public hearing, offeror must provide the District with proof of purchase capacity in the form of a bank commitment letter and/or personal/entity bank statements evidencing sufficient funds to pay the purchase price.
All closings shall be in accordance with the conditions set forth in the Turnkey Sales Agreement. The offeror will be granted possession of the property at closing. All closings shall be in accordance with the conditions set forth in the Turnkey Sales Agreement. At closing, offerors/purchasers will be required to execute an affidavit affirming offeror's/purchaser's intent to live in the property as their principal residence for 5 years
Click here to view a copy of the Affidavit of Principal Residence
In the event the offeror fails to close per the terms stated in the Turnkey Sales Agreement, said offeror shall be declared in default and all funds paid will be forfeited to the District as liquidated damages.
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.