1017 17TH PLACE NE ***EXCELLENT OPPORTUNITY FOR DEVELOPER*** Welcome to 1017 17th Place NE a multiple unit apartment building located in the subdivision of Trinidad/Langston Carver, Washington DC. Each unit offers 1 bedroom/1 bath with extended bump out. Excellent opportunity for a multiple unit condo conversion. Lot size: 3, 744 s/f; Zoning RA-2; NO PLANS OR PERMITS. Very deep rear yard. Parking up to 3-4 vehicles. Projected Condo Project: 8 units = (8) 2-bdrm at 1, 074 s/f each ($483 s/f), Total s/f = 8, 598; ARV = $4, 152, 834. Projected Construction Cost: Acquisition Cost $997, 500; Construction Cost: $1, 418, 670 ($165+ per s/f x 8, 598 s/f of living area); Paid Commissions (5%): $207 642; Carrying Cost at 8%: $302, 240 (18 months); Plans & Permits: $50, 000; Legal Fees: $10, 000; Total Acquisition & Construction Cost: $3, 038, 552; Profit: $1, 114, 552; ROR: 36.6%; Very HOT area for new development. 3 UNITS are vacant. Unit #4 is occupied. PLEASE NOT DISTURB TENANT. PROPERTY WILL CONVEY VACANT.