Ncdebe, Home Buyer in Southwest / Waterfront...

Looking at buying an apt in the Southwest Waterfront area in DC. Near O street. What can you tell me about this area? We have no kids ~ using it as a

Asked by Ncdebe, Southwest / Waterfront, Washington, DC Fri Mar 12, 2010

weekend place...
THANKS~

Help the community by answering this question:

Answers

9
Evelyn Lugo’s answer
One other thing, there are many coop buildings in SW as well as condo's. The monthly fees tend to be high so you will want to know what they include and you really want to buy a unit with parking as that is must on most blocks.:))
1 vote Thank Flag Link Sat Mar 13, 2010
SW DC has many great buys. What has been an area which has been undervalued for a long time; is now seeing terrific growth. Between the Baseball Stadium, the new Waterfront Mall and the complete renovation of the Arena Stage; I see SW DC as an area with some of the best buys.
1 vote Thank Flag Link Sat Mar 13, 2010
Check out the listing at 429 N Street SW #S711. Great water views two story two bedroom two baths beautiful.
0 votes Thank Flag Link Mon May 7, 2012
I think you picked a great area to move to. With all the up and coming in the area. I recommend you read the article in the Washington Business Journal dated Feb 7, 2012. They have a great front page article about the wharf in southwest. I have some websites I can recommend also.
If I can be of any help to you please don't hesitate to contact me.

Tammy Locher
STAGES Premier of Washington
1515 14th St NW
Washington, DC 20005
202-509-9587 - o
703-203-0652 - m
0 votes Thank Flag Link Wed Feb 8, 2012
I am a homeowner here, and here is an honest assessment that you won't get from an agent or broker:

Pros: Is going to have all kinds of major development very soon, as they are tearing out the entire waterfront (thankfully) and will replace it with brand new hotels, shops, etc. It is extremely convenient to many things stated by others. It has a lot of potential.

Cons: There are many. The area surrounding it is public housing, and the entire area is rife with crime, gangs, and the dregs of society. You really have to be on your toes; if they ever get around to tearing down the public housing, life will improve significantly there. The condos and coops are not quite the bargain they are sold as; due to poor management the monthly fees are profane ($600+ for 1 bdr, $900+ for 2bdr per MONTH). Although they do cover utilities, this is not really a selling point because you will never pay more than $100-$150 per month on your own (max I paid in my townhouse in alexandria was $150 in dead of summer/winter). Don't buy the hype, it is outrageous and not worth it. Hopefully one day this will change, as soon as i can afford it I will sell and move someplace safer and with lower fees.
0 votes Thank Flag Link Thu Feb 2, 2012
Hercules, I don't know that the fees are any more outrageous than some of the condo complexes in Alexandria. I have a condo in Pentagon City, one bedroom, 900 sqft and the fee is 571 per month with all utilities covered. Places like Watergate at Landmark that have tons of amenities have even higher fees. I think it's just the nature of dealing with an aging building.

As for the crime rate, well, again, the condo I own in Arlington also has concerns about drugs and hoodlums at a neighborhood park. Even had a murder on Arlington Ridge Road a few years back. So, I don't think it's public housing per se that is the problem. There are panhandlers and beggars in SW, but so does Arlington. In Arlington, they hold out signs in the medians between traffic lanes.
From my perspective, there is just not that much of a difference between Arlington and SW. Your utilities may have only been 150/month, but how much was your trash, lawn, and snow removal service, savings fund for roof?
Flag Sat Jun 16, 2012
Hi NCdebe,
I think it would be a great choice. There's a definitive blog on the waterfront at: http://www.jdland.com/dc/index.cfm
There are some great resale condos in the area with reasonable fees, some of which include utilities. There are also some interesting co op opportunities Co ops can be a great choice as you often get more SF for the price. Fees appear higher but include things like taxes and some or all utilities. Special financing is needed for co ops. Tthere is 5% and 10% co op financing available in DC . Because the co op concept is not widely understood in our market, many lower priced units are stagnating on the market and have become great values with the right negotiation. There are a number of lenders poised to take advantage of this niche in the market with new co op financing options forthcoming. If you're not familiar with co ops and you'd like some information, check out my profile page and contact me. I'd be happy to help.
In terms of new construction, monthly fees at Velocity, the new condo building on the Capitol Riverfront, are reasonable but the building is still under developer control. The fees will likely rise down the road.
For a condo alternative, check out EYA's Capitol Quarter. Very nice. My clients love the new CR and feel the investment potential has shown itselt to be good so far.
0 votes Thank Flag Link Mon Jul 19, 2010
I live in the neighborhood and bought here for a few reasons, the first being I could see the growth potential in the area, the National Stadium and Navy Yard, the new Waterfront Mall, the renovation/expansion of the Arena Stage and the major project, the new Harbor project which is scheduled to break ground in 2012. I wanted to see a good return on my investment and I knew this was the next hot spot in DC.

I also love the river, the proximity to the golf course, highways, metro, Downtown, Capitol Hill. I just think its a great place to live! I would be happy to show you around and asssit you with your search. Visit my website @ http://www.ISellDChomes.com for free access to the MLS or email me to schedule an appointment. elugo@LNF.com
0 votes Thank Flag Link Sat Mar 13, 2010
Hi,

Southwest is a fabulous area that is continuing to change and be developed. The area has 4 metro stop areas (L'enfant Plaza, Federal Center SW, Waterfront/SEU and Navy Yard.) Southwest is also walking distance to the National's baseball Stadium, Capitol Hill, Arena Stage, Fishermans Warf (famous fish market), waterfront park, and several restaurants. The National Mall, Smithsonian museums and downtown DC are close by. People I have sold properties to in Southwest DC enjoy living there.

To get more inside and local information about Southwest DC, read the blog: http://swdcblog.com

Best Regards,
Michelle Buckman
Licensed in DC, MD, VA
W.C. & A.N. Miller (A Long & Foster Co.)
0 votes Thank Flag Link Fri Mar 12, 2010
I love Southwest DC. I use to live there when I was in law school and it has many great attributes. The O street area is close to the new baseball stadium and walking distance to shopping, metro rail and the water front. I would just check out your block on Friday night and Saturday night around 11:00 at night to get a true sense of how it is. If you like it and the price is good, then I say go for it.

As a side note, I think this area is poised for terrific growth and appreciation over the next several years. That is, I think where you are considering purchasing will appreciate at a faster rate than the DC market overall.
Web Reference: http://www.urbanerealty.com
0 votes Thank Flag Link Fri Mar 12, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer