Park View Real Estate Heating Up. Is it the Next Up and Coming Neighborhood?

When I first heard from a realtor friend of mine that the Park View neighborhood has become one of the current “hot” places for new home buyers and developers, I was fairly certain that he was teasing me. However, in looking around the neighborhood over the past month or so, I’m not so sure now.

My experience with Park View real estate in the past few years is that it infrequently comes on the market, and when it does it can sit for a while if the house isn’t perfect. During the past year, however, this has changed. Houses are being listed more frequently and those that need more than a little work are attracting developers if not home buyers. Most interestingly is that there is a growing trend for a house to be listed but not have an open house. Most still have signs out front, but even that isn’t a given. I’ve also seen the return of multiple offers with escalations.

Below is a sample of four houses in the neighborhood that are currently under renovation. It will be interesting to to see how these properties fair when they’re completed and put back on the market.

  1. 445 Lamont Street

    445 Lamont Street. This three bedroom, 2 bath home sold on June 12, 2012, for $261,500. It has 1,320 sq. ft. Permits were issued on June 29 for the “Interior renovation all levels: 1st floor: Relocated bath room and kitchen, add lighting, modify joists, replace windows. 2nd floor: relocated bath room, add beth room, add lighting, replace windows. basement: add bath room, relocate, remove walls. Add lighting.” A good benchmark for this property is 453 Lamont Street, which was fully renovated and placed on the market in September of last year for $424,900. In that property, they finished the basement and it sold in December 2011 for $419,000.
  2. 434 Luray Place

    The next property to watch is 434 Luray Place. The property has been empty since November 2010 when a fire sent the owner to the hospital and left the house in need of major repair. I have not been able to find any recent sales information on this three bedroom, one bath property … so its possible that it is getting fixed up for a member of the family. Based on the permit issued on June 22, 2012, the renovations are extensive. They read as follows: “Interior Renovation-framing, drywall, doors, trim, paint, cabinet, appliances, flooring, upgrade fixtures electrical, plumbing, mechanical”
  3. 624 Princeton Place

    624 Princeton Place sold on April 5, 2012, for $349,900. It was built as a three bedroom, one bath house in 1920. It was last listed as having 1,920 sq. ft. of living space. Permits were issued on June 15 and July 6 for the following work: “Interior demolition of non-bearing elements in a space up to 5,000 square feet (464.5 square meters). Add new bedroom, full bathroom, and utility closet in basement. Reconfigure kitchen layout on first floor. Add new half bathroom on first floor. Add new master bathroom on second floor. Add new w/d closet on second floor. Install new duct work.”
  4. 622 Rock Creek Church Rd.

    Last but not least is 622 Rock Creek Church Road. It was built in 1911 as a three-story five bedroom, three bath house. It has 2,034 sq. ft. of living space and an unfinished basement. It sold on April 20, 2012, for $460,000. Several permits have been issued since April 11th. While the first ones were for “Interior demo: remove drywall and plaster. Clean all debris. non-load bearing wall,” it is clear in reading later permits and in watching the crew work on the property that the house is being converted into two living units. The basement was dug out and it along with the first floor will be one unit. The top two floors will be the other unit. I’ve been told both will contain two bedrooms.

Share

Explore posts in the same categories: Development, Housing, Real Estate

Tags: ,

You can comment below, or link to this permanent URL from your own site.

15 Comments on “Park View Real Estate Heating Up. Is it the Next Up and Coming Neighborhood?”

  1. patrick Says:

    As a recent home buyer in Park View I have no doubt your assessment is spot on.

  2. Angry Parakeet Says:

    I’m on the very edge of PV (Irving Street) but there is one completely renovated house listed for $589K and two undergoing complete gut/renovation on the same block. I think it’s the new sign on the corner that put us on the map.

  3. JS Says:

    Too bad 622 is getting cut up – I had designs on buying that one myself (keeping it as a SFH), but wasn’t quite ready to pull the trigger.

  4. AL Says:

    I am a recent home buyer in Park View, and I would actually like to thank you for all of the helpful information about the neighborhood on this blog. My husband and I were unsure about buying in the neighborhood, but after doing a lot of research we realized it was really a great community to be a part of and we are very happy here (so far!)

  5. Whitney Says:

    My husband and I are soon-to-be home owners in southern PV. We bid on one home (and were outbid), then the developer offered us an identical property next door scheduled to be complete in September.

    We’re very excited about the neighborhood, are there any good resources for neighborhood groups/get togethers?

  6. mb Says:

    Whitney, welcome to Parkview! We moved in about 1.5 years ago and so far like it a lot. This blog is a great start for info.. there is also a parkview beautification facebook page. On thursdays, a group “Friends of Parkview rec center” meets to discuss ways to improve the center to meet the needs of the community. There is also a “friends of” the Armed Forces Retirement home that organizes events with the residents at the retirement home. But really just taking a walk in the evening is a good start to meet people. Also, when we moved in many of our closest neighbors just knocked on our front door when they say the moving truck to introduce themselves.

  7. Whitney Says:

    Thank you for the welcome and information! Come September, I’ll definitely see you at the rec center and in the neighborhood.


  8. […] I posted at the beginning of the week, Park View is starting to get noticed, especially by those seeking a great residential neighborhood […]

  9. as Says:

    @Whitney- If you want to get involved in the neighborhood a good place to start is the UNC (United Neighborhood Coalition). Its kinds like a home owners association. They meet monthly to discuss issues regarding Park View and plan community events. It would probably be the best way to get involved in what’s already been taking place in the neighborhood. This group has been around for years and has accomplished some really good things, including the renovated park. They meet the first Wednesday of each month at 7pm at PV Rec meeting room. It’s an established group of residents (old and new). They discuss anything from the park, real estate, zoning issues, trash, ect.

    Just a side note the Thursday night meeting at the Rec is actually not the Friends of group, but DPR and will only be meeting through August. There is a friends of group forming, but no scheduled meetings as of yet.

    My advice is just be a neighbor. Meet the people on your street first, walk around and say hello to people, and maybe attend a meeting or two every once in a while. This blog is really helpful as well! If I could give all new residents this advice I would- take your time to get to know people, the history, and what’s happening in the neighborhood before you try to change anything. Not accusing you of doing this, just an observation that I have noticed a lot of new residents don’t seem to understand and could save them a lot of frustration.

    I run an organization called Park View Kids Zone and we work with most of the kids, youth, and adults in Park View offering free programming, tutoring, field trips, and family style weekly dinners, and much more. You can join the Park View Kids Zone facebook page at http://www.facebook.com/ParkViewKids Zone to keep up with all the happenings with the PV kids, youth, and young adults.

    Welcome to Park View!

  10. as Says:

    Park View Kids Zone’s facebook page is http://www.facebook.com/ParkViewKidsZone and our website is http://www.PVKZ.org. The facebook page above is not us!


  11. […] thinking about area real estate under development, one generally notices the neighborhood’s single family houses with the roll off dumpsters in front. Where Georgia Avenue is involved, development also brings to mind the new developments in progress […]


  12. […] Army Shadow Containers and Retirement GiftsPark View Real Estate Heating Up. Is it the Next Up and Coming Neighborhood […]


  13. […] Back in July I included 622 Rock Creek Church Road in a post on the many houses in the neighborhood that were in the process of being gutted and rehabbed. Readers may recall that it was built in 1911 as a three-story five bedroom, three bath house. It had a total of 2,034 sq. ft. of living space and an unfinished basement. It sold on April 20, 2012, for $460,000. […]

  14. Manual Klingman Says:

    home plumbing is quite easy if you just study and get used to its methods…

    Our blog
    http://www.prettygoddess.com


  15. You are so cool! I do not believe I’ve truly read anything like this before.
    So great to discover someone with some genuine thoughts on this subject.
    Really.. thank you for starting this up. This web site is something that is required on the web, someone with some originality!


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


%d bloggers like this: