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2701 32ND STREET NW
About This Property
The existing home is a stately European-inspired red-brick residence from the 1930s with a striking turret, original fireplaces, exposed beam ceilings, leaded glass windows, and five bedrooms across five levels with an attached two-car garage.
A collaboration between BarnesVanze Architects and CAS Engineering has produced a comprehensive feasibility study with full zoning analysis, site engineering, 3D models, floor plans, and color renderings for multiple development scenarios. The heavy lifting has been done. The recommended program calls for two residences: Lot A expanding the existing home to approximately 7,000 to 8,000 square feet, and Lot B as a new ground-up estate targeting approximately 15,000 to 17,000 square feet with curated outdoor living and security. Both scenarios are entirely by-right under current zoning.
One block away, HEIDER represented the sale of a then eight-year-old residence that closed at a number that defined the ceiling of the Washington luxury market at the time. With the right program, this assemblage presents a comparable opportunity to create and capture value at the highest level the city's residential market has to offer.
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 7, 2026 | Listed by TTR Sotheby's International Realty | $2,995,000 | |
| Listed by TTR Sotheby's International Realty | |||
| |||
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Rarely does an acre of land become available in one of Washington's most blue-chip, insulated neighborhoods. Offered as a combined package at $6,890,000 or individually as the existing residence at $3,895,000 and the two adjacent parcels at $2,995,000, this assemblage represents one of the most significant development and estate opportunities in the city.
The existing home is a stately European-inspired red-brick residence from the 1930s with a striking turret, original fireplaces, exposed beam ceilings, leaded glass windows, and five bedrooms across five levels with an attached two-car garage.
A collaboration between BarnesVanze Architects and CAS Engineering has produced a comprehensive feasibility study with full zoning analysis, site engineering, 3D models, floor plans, and color renderings for multiple development scenarios. The heavy lifting has been done. The recommended program calls for two residences: Lot A expanding the existing home to approximately 7,000 to 8,000 square feet, and Lot B as a new ground-up estate targeting approximately 15,000 to 17,000 square feet with curated outdoor living and security. Both scenarios are entirely by-right under current zoning.
One block away, HEIDER represented the sale of a then eight-year-old residence that closed at a number that defined the ceiling of the Washington luxury market at the time. With the right program, this assemblage presents a comparable opportunity to create and capture value at the highest level the city's residential market has to offer.
| |||
| Jun 4, 2025 | Relisted | $6,890,000 | |
| Relisted | |||
| Sep 30, 2024 | In contract | - | |
| In contract | |||
| Jul 8, 2024 | Price Decreased |
$6,890,000
↓ $400K
(5.5%) | |
| Price Decreased | |||
| Dec 12, 2023 | Price Decreased |
$7,290,000
↓ $960K
(11.6%) | |
| Price Decreased | |||
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About Northwest Washington
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017