Take two steps into unit 16 at 2007 Wyoming Ave. in Washington, D.C., and what you see is pretty much what you get for $725,000. But it's what you can't see that makes the condo extra attractive, according to the listing agent.
In all, the 122-year-old carriage house spans just 563 square feet. It’s got one bedroom that can fit a queen-size bed. The washer and dryer are nestled inside two modern white kitchen cabinets. There’s enough space for sitting room furniture in the entry room.
There’s also a spot bordering an extra-large hallway that separates the kitchen and bathroom that could be used as an office or TV room or extra storage.
Listing agent Jennifer Touchette said there’s one feature that might make up for the limited living space. The house comes with a parking space.
“I think the parking will ultimately push us,” said Touchette, an agent with the Your P&rtners team at Compass. “It’s just so valuable.”
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For some buyers, 563 square feet is all they want, especially in a transient urban environment like D.C., according to Touchette. The property was listed for sale on Nov. 7, and by Nov. 11 there had already been 10 showings, she said.
“We’ve had a couple of folks who are downsizers, and they have kids in the city,” she said during an interview while showing the property. “They are interested in having a kind of crash pad, but elevated, where they can come and go.”
Investors and first-timers
Other interested buyers could include people who work part-time in D.C. and split their time elsewhere. Maybe somewhere like New York, Touchette said.
It’s also an opportunity for investors looking to make money by renting the unit. The current owner purchased the property in 2019 for $740,000 and rented it for up to $3,600, according to Touchette.
“If somebody has an eye for making an income, the numbers are really good,” Touchette said.
Another option is for the residence to be a starter home for a first-time buyer. For that demographic, the condo is a steal for the neighborhood, according to Touchette.
Kalorama Triangle is a lively, urban neighborhood in D.C., according to Homes.com. It’s known for walkability, access to a variety of restaurants and proximity to green spaces, such as Kalorama Park. That said, the neighborhood is in high demand. As of Nov. 19, there were only 11 properties listed for sale on Homes.com.
“It’s so special to get into this neighborhood at this price point,” she said. “For young professionals, this is a great entry point to start building wealth and equity.”