1908 Mt Vernon Ave, ALEXANDRIA

$3,950,000

0 Bed
0 Bath
13,096 Sqft
.12 Acre
22 Parking

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.

Essential Information
MLS® #VAAX2030462
Price$3,950,000
Bathrooms0.00
Square Footage13,096
Acres0.12
Year Built1946
TypeResidential
Sub-TypeOther
StyleArt Deco, Federal
StatusActive
Community Information
Address1908 Mt Vernon Ave
SubdivisionDEL RAY
CityALEXANDRIA
CountyALEXANDRIA CITY-VA
StateVA
Zip Code22301
Amenities
Parking Spaces22
ViewCity, Panoramic
Interior
HeatingSteam
CoolingCentral A/C
# of Stories3
Stories3
Exterior
ExteriorBlock, Brick and Siding
School Information
DistrictALEXANDRIA CITY PUBLIC SCHOOLS
ElementaryMOUNT VERNON
MiddleGEORGE WASHINGTON
HighT.C. WILLIAMS
Additional Information
ZoningCL
Condo Fees$0
HOA Fees$0
Listing Details
OfficeCapital Realty Advisors
Office Contact(703) 536-2100
Property History
Price Reduced from $4,475,000 to $3,950,000
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Listing information last updated on July 24th, 2024 at 5:16pm EDT.