40 years ago, 4 women bought a DC apartment building for $75k. They're now selling it for a million
- Thread starter Buddy
- Start date
I need these bonds 
Bless them! Smart investment 40 years ago!
Mindfield333
Superstar
Probably got lowballed something vicious. A whole building in DC? I just searched on Zillow and 3 bedroom homes in DC going for 600k - 1.5
Some young folks out there need to make contact and see about setting up a Q&A. This a blueprint.
Heafcliffe
Hope there's puddin' in the clink...
I have to agree with this considering it's in NW DC. Buildings in that quadrant can go for a grip.
I know a guy who sold his place in escow for 1.25 in Colombia heights
Dude was chilling in the DR with me.
Building should be worth way more
Since it's 6 units, they could take some equity out, renovate/rehab/upgrade and sell 6 Condos at 1-1.5m a piece.
These are selling at 850-1M
615 Irving St NW Washington DC | Zillow
View 26 pictures of the 3 units for 615 Irving St NW Washington DC | Zillow, as well as Zestimates and nearby comps. Find the perfect place to live.
www.zillow.com
Whoever buys this is gonna rehab and flip. Won't be no regular owner
I hate to see us lose like this.
and mad I ain't got the capital to do this myself...
skyrunner1
Superstar
Salute to them 
I thought soo too, especially in DC.. but either way, they got in and made it happen..
get these nets
Veteran
@Buddy,
This is a great story.
To the pessimists, the property hasn't even been listed yet. So the article and headline is just saying what recent sales of similar buildings in that neighborhood went for.
Majority of older people that I've met from DC always speak favorably of the things that the late Marion Barry did for the city and residents. These ladies would have purchased the property during his second term. Article mentions a non profit organization helping them by convincing "the city" to lend them money to purchase and rehab the home. One loan was forgiven, and the other was low interest.
This is a great story.
To the pessimists, the property hasn't even been listed yet. So the article and headline is just saying what recent sales of similar buildings in that neighborhood went for.
Majority of older people that I've met from DC always speak favorably of the things that the late Marion Barry did for the city and residents. These ladies would have purchased the property during his second term. Article mentions a non profit organization helping them by convincing "the city" to lend them money to purchase and rehab the home. One loan was forgiven, and the other was low interest.
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Cakebatter
All Star
$75k in 1983 is worth $231k in 2023 dollars. If they weren't collecting rent on the property, a sale of $1 Million isn't a great ROI for a 40 year investment.
The Prince of All Saiyans
Formerly Jisoo Stan & @Twitter
The Coli: well see, here’s what I would have done 
Eat yr gas station shawarma
Eat yr gas station shawarma
OperationNumbNutts
Superstar
Good for them but the hope the $1 million is inaccurate.
hopefully a million each.