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5501 7th St Nw, WASHINGTON, DC

$1,200,000 - 4 Beds - 2 Baths - 2,150 Sqft - .04 Acres

$150K PRICE DROP!! NO OTHER LARGE CORNER Opportunities Exist in the Area (WITH PARKING) An unparalleled investment opportunity to not only develop in the Iconic Kennedy Street Corridor, but to own a part of the area History. For over 50 years, the owner has been operating a Freeman’s Barber Shop & Beauty Salon making this site a staple in the community. NOTE: POTENTIAL DEVELOPMENT PLANS (RENDERINGS) SHOWN IN PICTURES: as a 8-unit Residential Building with Additional Commercial Space. Rendering and Plans have been provided by Architect MAKEBA GAINES-KELLY of Gaines Kelly Design House. MAIN ADDRESS is 5501 7th Street NW, but the front side of the property where the commercial businesses are on the Kennedy Street level has ADDRESS of 631 Kennedy Street, NW DC. (Sits directly on the corner of 7th & Kennedy Streets NW) As a Mixed-Use site (MU-4), this Huge Corner is a Prime location for a Plethora of Development Concepts and offers flexibility to keep current footing OR build upwards (increase level count) and add-on to rear (build back) for Residential and/or Commercial usage. Located in a DC Qualified HUB Zone and Has NO Leases and NO Tenants. SOLD STRICTLY AS-IS Upper Levels provide Hardwood Floors, 4 Bedrooms, a Full Bathroom, Kitchen, Rear Deck, and a large front porch (It used to be rented out for residential). Lower Street Level has 2 entrances for 2 separate businesses – both have Half Bathrooms. Current Parking in the rear for 3 vehicles. Situated on Kennedy Street and Minutes to: Rock Creek Park, many transit routes which facilitate ease to access most of the city as well as Chevy Chase, Bethesda, Takoma Park, Silver Spring and Friendship Heights. Also close proximity to an array of dining options & Cafes, and Many More Conveniences. A $10MM Kennedy Street Revitalization Plan has recently been completed, and development of 2MM SQF at nearby Art Place at Fort Totten is currently underway, with Aldi, Meow Wolf Museum, and a 24-Hour Fitness as anchor tenants. Please note, this property also listed as DCDC508928 (For Commercial). Please use COVID precautions. Live On the Upper Level(s) or Divide the Upper Levels Into 2 units, Operate a business (or 2 businesses) on Street Level, and rent the Upper Level(s). So Much Potential Here. (Please See Attached Property Analysis).

Essential Information

For 5501 7th St Nw, WASHINGTON, DC
  • MLS® # DCDC508906
  • Price $1,200,000
  • Bedrooms 4
  • Bathrooms 2.00
  • Full Baths 1
  • Half Baths 2
  • Square Footage 2,150
  • Lot Sqft 1,742
  • Year Built 1923
  • Type Residential
  • Sub-Type Townhouse
  • Style Colonial
  • Status Active
  • Condo Fee $0

Community Information

For 5501 7th St Nw, WASHINGTON, DC
  • Address 5501 7th St Nw
  • Subdivision PETWORTH
  • City WASHINGTON
  • County WASHINGTON-DC
  • State DC
  • Zip Code 20011

Amenities

For 5501 7th St Nw, WASHINGTON, DC

Amenities

For 5501 7th St Nw, WASHINGTON, DC

CeilngFan(s), Wood Floors, Formal/Separate Dining Room

Parking

For 5501 7th St Nw, WASHINGTON, DC

Asphalt Driveway, Paved Parking, Private, Paved Driveway

Interior

For 5501 7th St Nw, WASHINGTON, DC
  • Interior Features Floor Plan-Traditional
  • Appliances Refrigerator, Disposal, Stove
  • Heating Heat Pump(s), Radiator
  • Cooling Central A/C, Window Unit(s)
  • # of Stories 3
  • Stories 3

Exterior

For 5501 7th St Nw, WASHINGTON, DC
  • Exterior Brick and Siding

Lot Description

For 5501 7th St Nw, WASHINGTON, DC

Corner Lot, Front Yard, Level, SideYard(s)

School Information

For 5501 7th St Nw, WASHINGTON, DC

District

For 5501 7th St Nw, WASHINGTON, DC

DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Additional Information

For 5501 7th St Nw, WASHINGTON, DC
  • Date Listed March 8th, 2021
  • Days on Market 38
  • Zoning MU-4

Listing Details

For 5501 7th St Nw, WASHINGTON, DC

Office

For 5501 7th St Nw, WASHINGTON, DC

TTR Sotheby's International Realty

Price Change History for 5501 7th St Nw, WASHINGTON, DC (MLS® #DCDC508906)

Date Details Change
Price Reduced from $1,350,000 to $1,200,000 $150,000 (11.11%)

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Listing information last updated on April 14th, 2021 at 4:19pm EDT.