Fairfax Gateway - Jessie Devamithran
1/2
Listing Courtesy Of: Century 21 Redwood Realty, 2025063674, WAI LUN LEUNG
Local Realty Services Provided By: Keller Williams Capitol Properties
Overview
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$692,500
55 P ST NW, WASHINGTON, DC 20001
3 Beds
3 Baths
1,272 sq ft
.04 ac
$692,500

55 P ST NW, WASHINGTON, DC 20001

Estimation provided by Keller Williams Realty Inc.
3 Beds
3 Baths
1,272 sq ft
.04 ac
Active
For Sale

Property Description

Investor’s Dream – Prime Development Opportunity in Truxton Circle!Unlock the potential of this classic two-level rowhouse in the sought-after RF-1 zoned district, offering significant value-add potential in one of Washington, D.C.'s fastest-growing neighborhoods. Whether you're looking for a fix-and-flip project, a buy-and-hold rental investment, or an expansion opportunity, this property is brimming with possibilities.Key Features:3 Bedrooms | 1 Bath – A well-laid-out floor plan with ample space to reconfigure or modernize.RF-1 Zoning – Potential for conversion into a multi-unit property, maximizing rental income or resale value.Bright and Spacious Layout – Large windows fill the living spaces with natural light, highlighting the home's charm and historic character.Separate Dining Room & Living Area – Ideal for redesigning into an open-concept space or keeping the classic structure.Deep Backyard – Provides off-street parking potential or space for an addition/expansion.Investor Advantages:High Appreciation Area – Truxton Circle continues to see strong appreciation, fueled by its proximity to downtown D.C., Union Market, and major transit hubs.Minutes to Union Station & the Capitol – Perfect for attracting high-income renters or professionals seeking prime access to D.C.'s core.Strong Rental Demand – With D.C.'s robust rental market, a renovated version of this home could command premium rental rates.Opportunity to Build Equity Quickly – Ideal for investors looking to renovate and resell, as surrounding renovated homes have sold for significantly higher prices.Comparable Homes in the Area:Recently renovated rowhouses with similar layouts have sold for over $900K, highlighting the profit potential for a well-executed renovation.Rental properties in the area are leasing for $3,500+ per month, making this an attractive buy-and-hold opportunity.With the right vision and updates, this property can be transformed into a high-value asset—whether you’re planning a full-scale renovation for resale or creating a long-term rental investment.🔹 Don’t miss out on this lucrative opportunity! Schedule your showing today and bring your contractor or architect to explore the possibilities.

Property Details

Compare This Home
Overview
Property Type
Interior Row/Townhouse
Property Size
1,272 sq ft
Year Built
1924
Days on Site
85 Days
HVAC
Heating: Hot Water, Cooling Fuel: Electric
Parking
Yes
Mithran Group At Keller Williams Realty
Fairfax Gateway
0225199599

Activity History

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SAVES
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Upcoming Open Houses
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Purchase Price: $692,500
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Price & Tax History

Date
Event
Price
12/26/2024
Listed
$692,500
(+15.42%)
05/27/2021
Sold
$600,000
Year
Property Tax
Assessed Value
Assessed Value is a combination of the land and additions.
2024
$34,769
(+495.16%)
$687,280
Land 480,590 + Additions 206,690
2023
$5,842
(+7.79%)
$687,280
Land 480,590 + Additions 206,690
2021
$5,420
(-82.65%)
$637,590
Land 450,740 + Additions 186,850
2020
$31,229
(+520.7%)
$624,580
Land 443,710 + Additions 180,870
2019
$5,031
(+12.5%)
$591,910
Land 422,660 + Additions 169,250
2017
$4,472
$574,740
Land 407,620 + Additions 167,120
The Property History data displayed is obtained from public records and/or MLS feeds from the local jurisdiction in which the applicable property is located. As kw.com cannot guarantee that all public records and MLS data is accurate and error-free, it is important that you contact your agent directly in order to obtain the most up-to-date information available.

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Car-Dependent Walkable Very Walkable
Mithran Group At Keller Williams Realty
Fairfax Gateway
0225199599

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