the flip side

Luzon-exterior
6445 Luzon Ave, NW #209

Washington, DC

1 bedroom | 1 bath

500 sf  | coop fee $782.50 per month

list price: $39,900

sold price: $57,000

As I was putting together my "big deal" post yesterday, I began wondering about the smallest deal in May.  The media constantly discusses the high cost of living in DC. Would there be a property under 100K that wasn't a parking spot or a shell that needed a total rehab?  When potential clients call me and say they want something for $50,000, I often tell them it's impossible.  It seems it's not 100% impossible but it certainly is difficult.

This unit was the least expensive home to sell in May 2013.  It's a 1 bedroom coop in Brightwood.  It has hardwood floors in the living room and a galley kitchen. It was an REO property, meaning it was owned by a bank.  It went under contract in April 6, 2012 and closed May 13, 2013.  Over a year under contract!!   

photos via MLS, listing courtsey of Faith Rosselle of Rosselle Realty Services

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