Price $4,475,000
Status Active
Beds 0
Baths 0 Bath
Home size 13,096 sqft
Lot Size 5,228 sqft
Days on Market 86
Looking for an awesome location in the eclectic Del Ray neighborhood with a huge wow factor, and income from solid tenants to partially offset your mortgage? This 3-story brick building with art-deco elements is your answer. Referred to as "perhaps the most distinctive building" on Mt. Vernon Ave., AKA the "Main Street" of Del Ray, now you can put your own personal design stamp on a luxury residential conversion of the third floor of this 13,000 SF mixed-use building. Currently built out as high-end creative office space, it's been intentionally left vacant for a new owner to carry out his/her own vision. Seller is offering it as is only. Conversion to residential on 3rd floor is at option/cost of Purchaser. Zoning is CL (Commercial Low), which allows residential over the existing commercial, up to four 1-BR units or a single unit as proposed. Renderings for a 3-BR, 2-BA, approx. 3,500 SF floor are included in the offering as an example of what the space could look like if converted. An interior staircase on the third floor leads to the wow factor--a small penthouse space and a rooftop deck, where you'll see outstanding views of both Del Ray and the greater Alexandria area. Rooftop decks are fast becoming a major value-added feature in urban development, and here's an opportunity to maximize this space too. Included in the offering, and must be sold with, are 115 E. Howell Ave. (2,875 SF; Tax ID 14958500) and 117 E. Howell Ave. (2,875 SF; Tax ID 14959000), both zoned RB residential. 1908 Mt. Vernon Ave. (Tax ID 14960010), is the "parent" parcel of these lots and its assessment includes their value. The residential lots are used for parking by the commercial tenants under a special-use permit that will need to be renewed by the new owner. A big plus to a new owner are the 22 parking spaces on these lots, incredible to find anywhere in Alexandria. The second floor office space was upgraded with last year with new carpet and paint at a cost of $30,000, and the existing third floor office space underwent a $230K renovation in 2008, including skylights. Ground floor tenant USPS and second floor iData just renewed leases for a 5-year extension effective January 2024, providing $225,000 in gross income, before expenses. Property is also listed under Commercial. See MLS# VAAX2029718.
Property Type(s): Single Family
Last Updated 1/20/2024 Tract DEL RAY
Year Built 1946 County ALEXANDRIA CITY

SCHOOLS

School District ALEXANDRIA CITY PUBLIC SCHOOLS
Elementary School MOUNT VERNON
Jr. High School GEORGE WASHINGTON
High School T.C. WILLIAMS

Additional Details

AIR Central Air
AIR CONDITIONING Yes
BUYER'S BROKERAGE COMPENSATION 2.5
CONSTRUCTION Brick
HEAT Natural Gas, Steam
INTERIOR Elevator
LOT 5227 sq ft
SEWER Public Sewer
STORIES 3
STYLE Art Deco, Federal
SUBDIVISION DEL RAY
TAXES 24709
VIEW Yes
VIEW DESCRIPTION City, Panoramic
WATER Public
ZONING C-L zoning allows both commercial and residential. The two lots included on E. Howell Ave. are zoned

Location

 

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