An unbelievable opportunity is available at The Lofts of Columbia Heights. Part of DC’s “Affordable Dwelling Unit” Program, this three-bedroom, two bath 1,318 square foot home is listed for only $354,478 – a true bargain for the neighborhood. The DC Department of Housing and Community Development has certain income and minimum household size requirements that a buyer must meet in order to purchase this home; see below for details. -------
The home is flooded with natural light through oversized windows. The spacious, open-plan features a large living and dining area and a generous kitchen with plenty of cabinetry and counterspace. ------
The primary bedroom is located right off the living area and features a large walk-in closet and an en-suite bathroom. Both the second and third bedrooms also have walk-in closets of their own. The second full bathroom is conveniently located across the hall from the bedrooms. ------
This unit provides central air conditioning, a washer and dryer in the unit and one-car parking in the building’s garage. The building offers front-desk service for receiving packages. And it’s conveniently located just blocks to Metro, restaurants, shops, grocery stores and even a Target. ------
This is a property that is in the Affordable Dwelling Unit Program - the intent of the affordable dwelling unit (ADU) program is that the Unit be owned and occupied by a qualified household in the same income class as the original owner at the time of the recording of the affordability restrictions, in this instance up to sixty percent (60%) of Median Family Income (MFI also known as area median income or AMI). MFI is calculated annually by the U.S. Department of Housing and Urban Development (HUD). ------
The Unit is a 3-bedroom unit, allowing occupancy of 3-7 people. For a household size of three people the maximum income is $68,050, for a household size of four people the maximum income is $75,600, for a household size of 5 people the maximum income is $83,150, for a household size of six people the maximum income is $90,700 and for a household size of seven people the maximum income is $98,300 ------
Pursuant to the District of Columbia Affordable Dwelling Unit (ADU) program, income restricted units are available at this development. Please contact the Department of Housing and Community Development regarding the availability of such units and requirements. ------
About ADU sale units:
- The unit must remain the owner’s continued primary residence throughout their ownership.
- The household must divest of any other housing ownership before closing on the ADU.
- The unit may not be rented out, in part or in full, for any length of time and via any method without prior written consent from DHCD. Temporary rentals including AirBnb or similar style rentals are never permitted.
- There are perpetual resale price and term restrictions on the unit. The owner must contact DHCD to obtain a maximum resale price and receive further instructions prior to listing the unit for sale or refinancing the mortgage.
Courtesy of: RLAH @properties Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 6th October, 2022 1:44 PM (UTC)