3528 Park Place NW

LAND LISTING FOR MULTIFAMILY PROJECT. Development opportunity in a prime location of the Park View neighborhood, close to Columbia Heights and the vibrant 14th Street corridor with its popular restaurants and retail. Park View/Petworth neighborhood is a growing area of Washington, D.C., near Kalorama Park and numerous other recreational areas. This premium lot conveys with approved plans and permits for two-unit condominiums (Lower Unit: 4 bed / 4 bath / private yard) (Upper Unit: 4 bed / 3 bath / rooftop deck) The approved plans include one on-site parking space. The seller has added significant value to the lot by already having completed the full entitlement process. By having fully approved plans and a building permit in hand, a developer can move directly into construction and avoid significant carrying costs, architectural fees, and entitlement risk, which can often take up to six months or more. We believe this to be a meaningful value-add for the buyer, and for that reason, pricing reflects the approved status rather than raw land value. From an investor standpoint, one of the strongest incentives here is the potential end value. Seeing comparable condos of similar size sell for $875K$899K per unit, which creates a rare opportunity for a builder/developer to construct in a highly sought-after NW DC neighborhood.