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Federal, Mid-Century Modern, Contemporary, Colonial
1938 I STREET NE
WASHINGTON, DC 20002
MLS#: DCDC2265848
$898,000
Property
Beds
20
Full Baths
None
1/2 Baths
None
Year Built
1942
Sq.Footage
2,368
Some opportunities require vision. Others require timing. The rarest opportunities offer both, with nothing left standing between acquisition and execution. Introducing The Eastlight, a 10-unit boutique condominium development opportunity positioned just off the H Street Corridor, one of Washington’s most active growth corridors where residential demand, retail expansion, and long-term neighborhood investment continue to converge. This is not a concept or a pursuit. This is a fully realized development opportunity where the hard work has already been completed. Zoning is secured. Architectural plans are complete. Construction permits are approved. The path forward is clear for a developer who understands the value of momentum. Designed by respected DC firm 2Plys Architecture, the building balances efficiency and market appeal with a unit mix proven to perform in this submarket. The program includes two three-bedroom penthouse residences, six two-bedroom homes designed for end-user demand, and two one-bedroom residences ideal for attainable price points. Two on-site parking spaces further strengthen resale positioning. With approximately 7,414 square feet of gross building area and 5,862 square feet of sellable residential space, the project is sized for execution without institutional complexity while still offering meaningful revenue potential. Estimated construction costs between $1.2M and $1.5M position the project for strong margins based on projected sellout values between $3.4M and $3.9M. Projects at this stage rarely trade. The entitlement process in Washington can take a year or more. Here, that timeline has already been absorbed. The next owner steps into a position of readiness, not risk. The Eastlight represents what experienced developers seek most: certainty, speed, and location strength. For the right buyer, this is not just another project. This is a chance to control a fully prepared development in a neighborhood still writing its growth story. (2) Expansive three-bedroom penthouses across the top two levels (6) Intelligently sized two-bedroom units (2) Boutique one-bedroom flats (2) On-site parking spaces Total gross area: 7,414 SF | Net living: 5,862 SF Nearby amenities and development drivers: H Street Corridor dining & nightlife, 0.3 miles Whole Foods Market, 0.6 miles Union Market District, 1.2 miles Union Station transportation hub, 1.4 miles Gallaudet University, 0.8 miles Streetcar access along H Street, 0.3 miles
Features & Amenities
Interior
-
Total Bedrooms
20
-
Bathrooms
N/A
-
Above Grade Finished Area
2368.0
-
Cooling YN
YES
-
Cooling
None, Electric
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Electric, Hot Water
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
On Street
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.06
-
Lot Size(square feet)
2432.0
-
Property Type
Residential Income
-
Property Sub Type
Quadruplex
-
Architectural Style
Federal, Mid-Century Modern, Contemporary, Colonial
Price
-
Sales Price
$898,000
-
Tax Amount
$6,994
-
Sq. Footage
2, 368
-
Price/SqFt
$379
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
New Construction
NO
-
Foundation Details
Concrete Perimeter, Other
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
WASHINGTON
Elementary School
Middle School
High School
Listing Courtesy of Marc Cashin , Corcoran McEnearney
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