Thursday, January 6, 2011

Boutique 3 level 2 bedroom condominium unit in Georgetown



Welcome home to 3222 CHERRY HILL LN NW #D, located in the heart of Georgetown, in Washington, DC. It is listed through Prudential Carruthers Realtors;MLS #DC7461625. This boutique condo building was designed by Arthur Cotton Moore designed and is known simply as ‘Georgetown’, because of the location.

If you take metro,get off at the Foggy Bottom/George Washington University Station. The condo is about 9 blocks from there. If youare driving, I suggest parking on K Street, NW unless you can find parking on Grace Street, NW. Go North on Wisconsin Ave, NW, turning left onto Grace Street, NW, then an immediate left onto Cecil Place, NW and turn onto Cherry Hill, NW. You could also approach the condo building by turning from M Street, NW onto Wisconsin Ave, NW, then turning right onto Grace Street, NW and continuing.

Awesome location! This home is within a block from this property -- Washington Harbor, C&O Canal, Shops of Georgetown Park, Eagle Bank, Dean & Deluca, Ritz Carlton, movie theaters and more.

Cherry Hill Lane is a wonderful, quiet and historic street.

Rarely will you find a 3 level condominium unit (it is not a townhome), with bedrooms on 2 separate floors and the 3rd level completely designed for entertaining! According to tax records, the unit is 914 square feet, but it feels bigger because of the 3 unique living areas. The $400/month condo fee is lower than any other 2 bedroom condo/coop currently active on the market and within a quarter mile radius of this home.

If you are into contemporary and having a home that is almost a “one of a kind”, then this could very well be the home for you. In my opinion, this is a home that literally everyone goes into will either fall in love with or hate because of the layout. In either case, because of its uniqueness, I think it is a must see and would encourage you to contact me to see it.

The condominium unit is in a garden style building, which means it is 4 levels building. The unit itself is on the 2nd, 3rd and 4th level. No units are on the 1st level. The 1st level is the building entrance. There are 2 key door entrances to the building; one where you can use an elevator and one where use steps.

You enter the condominium unit on the 3rd floor of the building, which is the 2nd level of the home. As you walk through the entry foyer, you’ll notice the hard wood floors and your eyes will probably lead you to the cedar wood doors including the “French glass doors” to the first bedroom. A coat closet, washer/dryer unit and full are in the entry foyer. There are hard wood floors and recessed lights through much of the unit.

In first the bedroom there are built in shelves and an abundance of windows for natural light. There is room for a twin bed…a queen or king bed might not fit (staging would have helped here). The only negative is the view of the next building, which is a function of where the building is located as well as a function of being a garden style building with other buildings surrounding it.

The second bedroom, which I would probably use as an owner suite/master bedroom is up the contemporary spiral staircase. It has almost a “loft like” feel. There is a full bath in this bedroom, built-ins and very similar windows to the first bedroom.

One unique selling feature of this home is the privacy one can have if he or she has roommates/guests sleeping over. It is similar in one respect 2 level condo and coop units, where the loft/2nd bedroom/office is often on the 2nd floor.

What really makes this a rare condominium unit is the 1st level, which is completely dedicated to entertaining. Often in condos and co-ops the kitchen and living room/dining area are on the same level of at least 1 bedroom.

There is a more “traditional” if you will, wood staircase to the first level of the unit. To your left is the kitchen which is small but nicely updated Many of the cabinets have glass front doors, as well as in cabinet lighting and under cabinet lighting to make the kitchen shine. Kitchen is nicely updated with granite counters and has ceramic flooring.

On the other hand, the living room/dining room area is huge and great for entertaining. It features hard wood floors, a wood burning fireplace and has a large window. If you, your roommate or guest feels like going upstairs to hang out, relax, sleep or have privacy while the party goes on.

It would have been a bonus if the first level was designed with a powder room. The only other negative feature of this area may be that it is not on the main level or at least there would be a second entrance into the home on the same level as the kitchen, so you don’t have to go down stairs every time you return from the super market. But the designer accounted for this by using a more traditional staircase to the kitchen and living room/dining room level.

This is truly a unique home, which I think is a must see. You will either love it or hate it. I doubt anybody would be indifferent about it. If you want one level living, then this is wrong home for you, but if you like the idea of separate living spaces, this could be the perfect home for you. With the location and style of home, I think it would also make a great investment property, whether you live in one room and rent the other room out or if you rent the entire unit out.

The home is priced aggressively, currently asking $428k. The current asking price for 2 bedroom homes within a quarter mile radius of this home STARTS at $543k. The condo fees are also higher than these homes, which is $400/month. 2 of the units only have 1 bathroom, while this unit has 2 full baths. In the last 6 months the average sale price of 2 bedroom condos and coops within a quarter mil radius of this home is $554,000, while the median sold price is $754,414. To further emphasize the value of this home, nearby there is currently an updated 1 bedroom, 1 bath condo for sale asking over $500k.

So, why is this condo priced so aggressively compared to the market and its “current competition”? I think it is because as I have said in a couple different ways that this home has a very unique that people are either going to love or hate. The home itself is nicely upgraded and well kept. It is centrally looked, but people might object to not having a better view from the unit. Also, because of the number of investors in this condominium building, the home is not currently approved for FHA financing. So, the sellers have lowered the asking price of this home in order to try and attract more buyers.

If you or somebody you know is interesting in further discussing or looking at this home, please let me know. I always have time for your referrals.

Life is good!

Adam
adambashein@mris.com
CELL: (301)943-4370
301-718-4100
www.basheinhomes.info
Adam Bashein
Weichert Realtors
Licensed in MD & DC

Information deemed to be accurate, but not guaranteed.

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