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1908 Mt Vernon Avenue Alexandria, VA 22301

13,096 Sqft
5,227 Sqft lot
0.12 Acre lot
$4,475,000 Est. $15,916 / mo.*
Status: Active
Property Type: Single Family Residential
Year Built: 1946
Neighborhood: Del Ray
Days on Website: 36

Courtesy of Geoffrey G Lindsay, Capital Realty Advisors {attribution_contact}

Description

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. A big plus of this location is if the proposed arena at Potomac Yards gets approved, it's only about a mile away, and new owner can walk to/from the Wizards or Capitals games, with no parking hassles. 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.

Property Details and Features

  • 1 elevator
  • 13,096 sqft living area
  • 13,096 sqft above grade (finished)
  • Built in 1946
  • 3 levels
  • Art Deco
  • Federal
  • Block
  • Brick
  • Central Air
  • Electric
  • Central A/C
  • 36+ wide Halls
  • Elevator
  • 32+ wide Doors
  • Natural Gas
  • Steam
  • 37 days on market
  • $342 per sqft
  • County: Alexandria City
  • Subdivision: Del Ray
  • 5,152 sqft
  • 0.12 acres
  • Additional Parcels
  • Other Structures: Above Grade,Below Grade
  • View: City,Panoramic
  • School District: ALEXANDRIA CITY PUBLIC SCHOOLS
  • Elementary School: MOUNT VERNON
  • Middle School: GEORGE WASHINGTON
  • High School: T.C. WILLIAMS
  • Public Sewer
  • City/Town Tax: $24,709
  • City/Town Tax Pymnt Freq: Annually
  • County Tax Pymnt Freq: Annually
  • Tax Annual Amount: $24,709
  • Tax Year: 2023
  • Hot Water: Natural Gas

This content last updated on February 25, 2024 4:04PM.