A Columbia Heights property auction will take place next week on Wednesday, February 27 at 1 PM. That’s just one hour after the auction in the Trinidad neighborhood. So if you don’t win the first one, you can head to the next one!
The Columbia Heights property auction is for a three-level 1,116-square-foot townhouse at 758 Fairmont Street, NW between Sherman and Georgia Avenues. You may recall that that the Sherman Avenue Streetscape project recently upgraded the neighborhood -- adding a median with trees, sidewalks, and more. The location is also walking distance to the Metro and Howard University. In addition, the property is just blocks from the shops and restaurants on 11th Street, which the New York Times calls the new “hip strip” in Washington, DC.
The townhouse has a front porch, as well as two back porches on the main and second levels. The home also features a walkout basement and a long sloping front yard down to street level. Bids start at $250,000.
The home was built in 1923 and needs a complete renovation. Both the inside and outside look rather dilapidated, but this is a home with great potential. Many of the interior walls have exposed brick, which is a popular interior design trend for contemporary décor. Most of the drywall and ceilings have been stripped, so you can design the home to your taste. The existing wood floors look like they could be refinished to their original grandeur.
Your only opportunity to view the property is 60 minutes before the auction. If you intend buy, you must also bring a $20,000 earnest money deposit to the auction in cash or certified funds. The final purchase price will include a 6% buyer’s premium added to the winning bid. After a successful bid, you have three business days to bring your deposit up to 10% of the purchase price. Settlement will occur 45 days after the auction.
Good luck to those of you who have your eyes fixed on this upcoming Columbia Heights property auction!