Why Are Vacant Lots Hitting the Market in DC for $70,000?

• May 24th 2018

by Nena Perry-Brown

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Are small plots of land listed for $70,000 the latest fad in DC real estate?

A couple weeks after UrbanTurf first reported that a triangular plot in Adams Morgan had been listed for $70,000, a collection of other pieces of land around the city hit the market with that price tag. 

Realtor Farone Williams is representing a handful of vacant plots around DC, which don't share much in common besides having been owned by the same individual and carrying a $70,000 price tag. "Knowing the complexities of getting those properties dealt with, it had to be an attractive price to move them," Williams explained to UrbanTurf. 

After the owner's recent passing, the estate entrusted Williams to list the sites (including the Adams Morgan lot). The remaining sites include:

• A 2,000 square-foot lot in the Penn Branch neighborhood of Southeast. Located on Nash Place SE (map), the site sits among a suburban-style stretch of single-family detached homes. The site is zoned R-1-B, which theoretically allows for by-right detached home construction (after the trees and underbrush are cleared, at least).
• A 521 square-foot lot on Independence Avenue SE close to the intersection with Massachusetts Avenue (map). The site is currently paved over and partially used as a de facto driveway; it is zoned MU-4, which theoretically allows for by-right moderate-density mixed-use development.
• A 2,178 square-foot, landlocked lot adjacent to Aquatic Gardens off Anacostia Avenue and Pine Street NE (map). None of the adjacent streets have direct access to the site. This site is also zoned R-1-B. 

All of the above sites would potentially require a creative approach if they were to be improved with new residences, so it will be interesting to see what plans emerge after they are purchased.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/why-are-vacant-lots-hitting-the-market-in-dc-for-70,000/14022.