227 Bates Street NW- You have got to be kidding me

227 Bates St NW 7/24/2016

A while back I mentioned 227 Bates St NW only briefly. I tend to forget things but looking on Redfin I noticed it was up for sale.

It's listed for $1.2 million.

For a shell.

A shell.

You have got to be f'ing kidding me.

Truxton Circle does have million dollar homes. They tend to be move in ready. They are not shells. Sometimes they have roof decks. There are no million dollar shells unless there is something super special about this place, which I doubt.

In December 2015 it was sold for $617,000.  That's not an unreasonable price for a shell, if the plan is to divide and develop it into two high end condos with a bunch of bells and whistles and a deck off the kitchen. I'm not a fan of dividing things into condos, but that's how that price makes sense. But the $1.2 mil price for a shell, a shell that the owner and listing agent felt no need to take their own photo, but just one from Google Street View. I don't think that's a serious price.

The new owner now owes over $10K in property taxes for 2016 and as you may see from the pictures it has the vacant sticker of shame, so it is being taxed at the vacant rate. So that million does not cover a high tax bill.

There is a permit #PC30723628 issued 12/12/15 for interior demo.

I could delve deeper into why there is an Eagle Bank sign out front or the LLC on the unit block of S St NW that owns this, but it doesn't seem worth it.