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$4,475,000
●
House -
For Sale
1908 MT VERNON AVE
ALEXANDRIA, VA 22301
Studio
0 Bath
13096 Sqft
$21,974
Estimated Monthly
$0
HOA / Fees
About This Property
Looking for an awesome location in the eclectic Del Ray
neighborhood with a huge wow factor, and income from solid tenants
to partially offset your mortgage? This 3-story brick building with
art-deco elements is your answer. Referred to as "perhaps the most
distinctive building" on Mt. Vernon Ave., AKA the "Main Street" of
Del Ray, now you can put your own personal design stamp on a luxury
residential conversion of the third floor of this 13,000 SF
mixed-use building. Currently built out as high-end creative office
space, it's been intentionally left vacant for a new owner to carry
out his/her own vision. Seller is offering it as is only.
Conversion to residential on 3rd floor is at option/cost of
Purchaser.
Zoning is CL (Commercial Low), which allows residential over the existing commercial, up to four 1-BR units or a single unit as proposed. Renderings for a 3-BR, 2-BA, approx. 3,500 SF floor are included in the offering as an example of what the space could look like if converted. An interior staircase on the third floor leads to the wow factor--a small penthouse space and a rooftop deck, where you'll see outstanding views of both Del Ray and the greater Alexandria area. Rooftop decks are fast becoming a major value-added feature in urban development, and here's an opportunity to maximize this space too.
Included in the offering, and must be sold with, are 115 E. Howell Ave. (2,875 SF; Tax ID 14958500) and 117 E. Howell Ave. (2,875 SF; Tax ID 14959000), both zoned RB residential. 1908 Mt. Vernon Ave. (Tax ID 14960010), is the "parent" parcel of these lots and its assessment includes their value. The residential lots are used for parking by the commercial tenants under a special-use permit that will need to be renewed by the new owner. A big plus to a new owner are the 22 parking spaces on these lots, incredible to find anywhere in Alexandria. The second floor office space was upgraded with last year with new carpet and paint at a cost of $30,000, and the existing third floor office space underwent a $230K renovation in 2008, including skylights.
Ground floor tenant USPS and second floor iData just renewed leases for a 5-year extension effective January 2024, providing $225,000 in gross income, before expenses.
Property is also listed under Commercial. See MLS# VAAX2029718.
Zoning is CL (Commercial Low), which allows residential over the existing commercial, up to four 1-BR units or a single unit as proposed. Renderings for a 3-BR, 2-BA, approx. 3,500 SF floor are included in the offering as an example of what the space could look like if converted. An interior staircase on the third floor leads to the wow factor--a small penthouse space and a rooftop deck, where you'll see outstanding views of both Del Ray and the greater Alexandria area. Rooftop decks are fast becoming a major value-added feature in urban development, and here's an opportunity to maximize this space too.
Included in the offering, and must be sold with, are 115 E. Howell Ave. (2,875 SF; Tax ID 14958500) and 117 E. Howell Ave. (2,875 SF; Tax ID 14959000), both zoned RB residential. 1908 Mt. Vernon Ave. (Tax ID 14960010), is the "parent" parcel of these lots and its assessment includes their value. The residential lots are used for parking by the commercial tenants under a special-use permit that will need to be renewed by the new owner. A big plus to a new owner are the 22 parking spaces on these lots, incredible to find anywhere in Alexandria. The second floor office space was upgraded with last year with new carpet and paint at a cost of $30,000, and the existing third floor office space underwent a $230K renovation in 2008, including skylights.
Ground floor tenant USPS and second floor iData just renewed leases for a 5-year extension effective January 2024, providing $225,000 in gross income, before expenses.
Property is also listed under Commercial. See MLS# VAAX2029718.
Unit Size
13,096Ft²
Days on Market
98 days
Land Size
0.12 acres
Price per sqft
$342
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1946
Listed By
Last updated: 30 days ago (Bright MLS #VAAX2030462)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jan 20, 2024 | Listed by Capital Realty Advisors | $4,475,000 | |
Listed by Capital Realty Advisors | |||
Dec 12, 2023 | Listed by Capital Realty Advisors | $4,475,000 | |
Listed by Capital Realty Advisors | |||
|
|||
* 5-Year Lease Extensions by tenants USPS and iData * Office floors
upgraded to Class-A style * Upside with 3rd floor vacancy * An
incredible-and rare-22 parking spaces * Residential conversion
opportunity This unique property in the heart of Alexandria's
vibrant and popular Del Ray neighborhood offers an opportunity for
both users and investors, particularly with its multiple value-add
opportunities. For users, operate your business on the now-vacant
third floor while you benefit from…
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Property Highlights
Elevator
Air Conditioning
With View
Parking Details
Parking Features: Parking Lot
Total Garage and Parking Spaces: 22
Interior Details
Interior Information
Living Area Square Feet Source: Assessor
Exterior Details
Property Information
Ownership Interest: Fee Simple
Year Built Source: Assessor
Building Information
Other Structures: Above Grade, Below Grade
Structure Type: Other
Construction Materials: Block, Brick
Pool Information
No Pool
Lot Information
Tidal Water: N
Lot Size Source: Assessor
Land Information
Land Assessed Value: $2,399,000
Above Grade Information
Finished Square Feet: 13096
Finished Square Feet Source: Assessor
Financial Details
County Tax: $0
County Tax Payment Frequency: Annually
City Town Tax: $24,709
City Town Tax Payment Frequency: Annually
Tax Assessed Value: $2,399,000
Tax Year: 2023
Tax Annual Amount: $24,709
Year Assessed: 2023
Utilities Details
Central Air
Cooling Type: Central A/C
Heating Type: Steam
Cooling Fuel: Electric
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Sewer Septic: Public Sewer
Water Source: Public
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Sold
House
6
Beds
6
Baths
8,145 ft²
$516/ft²
$4,200,000
Sep 13, 2021
$4,200,000
Apr 10, 2023
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|
Building Info
1908 Mt Vernon Avenue
1908 Mt Vernon Avenue, Alexandria, VA 22301
- 2 Units for Sale
About Potomac West
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