Active

1908 Mt Vernon Ave

Alexandria VA, 22301

$4,475,000


$341.71 per sqft

Active

13,096 sqft

Residential

Built in 1946

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. A big plus of this location is if the proposed arena at Potomac Yards gets approved, it's only about a mile away, and new owner can walk to/from the Wizards or Capitals games, with no parking hassles.
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.

VAAX2030462

MLS ID

February 15, 2024

Updated

Map

1908 Mt Vernon Ave
Alexandria VA, 22301

Interior Features

Total Stories

3


Interior Features

Elevator


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Steam, Natural Gas

Exterior/Building Features

Lot Size

0.12 Acres


Architectual Style

Art Deco, Federal


Sewer

Public Sewer

School Information

School District

ALEXANDRIA CITY PUBLIC SCHOOLS


High School

T.C. WILLIAMS


Elementary School

MOUNT VERNON

Other Property Details

Taxes

$24,709


Tax Frequency

Annually


Days on Market

1


Garage

No


Parking Total

22


View

Yes


View Description

City, Panoramic


County

ALEXANDRIA CITY


Water Source

Public


Pool

No


Zoning

C-L zoning allows both commercial and residential. The two lots included on E. Howell Ave. are zoned RB, a residential zoning.


Buyer Agency Compensation

2.5%

Listed by Geoffrey G Lindsay, with Capital Realty Advisors
Listing Contact: 7035362100 

The IDX display contains information sourced from the Bright MLS, Inc. as of 2/15/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 2/15/2024 at 10:26 PM UTC

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