Smoking Deal on Firehouse #25 Penthouse

This is killing me. If I were at all solvent I would make on move on unit 12 at Firehouse #25 (1406 Harvard) on Capitol Hill that just came on the market. It’s a 2,307 square foot unit and is priced at the great price of $612,810. The photos on the current listing do not do this place justice. It’s a large unit, 1,200 bottle wine cellar, fancy custom shower, two bedrooms and private office. But it looks like the nice stainless kitchen appliances were stripped out and replaced with black ones.

Why is it such a good deal? This unit was last on the market fall of 2008 for $1.2m. It never sold and it looks like it went back to the bank on March 1st of this year.

Sigh.

Graph of appraisals

Current average appraisal:

$737,500

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About Matt Goyer

I love condos, lofts, floating homes, new construction and mid-century moderns so much so that since starting this blog in 2006 I've written over 2,000 blog posts about them!

For years I resisted becoming a real estate agent preferring to be a marketing executive at Redfin but after leaving Redfin (after seven years!) I caved in the spring of 2014 and became a broker. So if you need help finding that "Urbnlivn-style" place or selling your home email me at matt@urbnlivn.com, I'd be happy to help you.

Prior to Urbnlivn and Redfin, I worked at Microsoft after graduating from the University of Waterloo with a Bachelor of Mathematics with a major in computer science.

You can also find me on Twitter, @MattGoyer, or LinkedIn.

  • anonymous

    Dues are $943 !

  • Patrick

    Yeah, HOA dues $943. That's like paying for a second apartment right there. Add in the $8k taxes and you're talking $20k upkeep per year.

  • Jojo

    Words that scare me in a listing? “Sold as-is.” Eeep!

  • AJ

    There is no warranty on that building for a reason. It's a brick building from 1908 with some major challenges. That's why they can't sell. I looked into it last year. I'm surprised the HOA hasn't sued.

  • Ben K

    Matt – Did you notice that it sold for $2,699,000 back in Sept 2000.

  • reaalistx

    “If I were at all solvent”

    Ah, the joys of real estate investing!

  • phil

    I think that was for the whole building. It had been apartments and then sold off as the leases ended. I looked at them back in 2000 or 2001. This unit was no where near this nice looking back then and was actually in my price range, but I was actually interested in the ground floor unit below it.

  • anonymous

    There is a good reason for the large price drop. As mentioned above, the nice appliances are gone but they weren't replaced with even low end models, they were replaced with what looks like Good Will specials. The wine racks and cooling unit were removed from the “wine cellar”, the dishwasher's broken and the washer and drier are just missing. The floors need to be refinished, some of the stone slab counters in the bathrooms are cracked across the entire top, the veneer for the burl cabinets is chipped around the edges, … Basically it could be a really nice place again if you were willing to invest a LOT of money and time into it.

  • Foo

    The place sat on the market for $1.25MM. Replacing the appliances, countertops, and wine cellar equipment has to cost a lot less than $600K, right?

    I saw this place, by accident, when it was on the market a couple of years ago. It was absolutely beautiful from the private office (completely separate from the rest of the unit) to the cable-driven ceiling fans (which have apparently been stripped away, cables and all). Shame it's come to this.

  • EconE

    Anybody else see a face in the first picture?

  • mt

    I toured this place this week. Lots of maintenance work needed to be done. Some water damage too. As others have said, all appliances are pretty low end, and would probably need replacing. Some of the lighting is broken as well. I didn't see the private office at all. Where was it?