This featured ground-up construction project is located in Bethesda, MD, just minutes from the ever-popular Bethesda Row. Bethesda remains an attractive choice for buyers looking to retreat from the hustle and bustle of DC, and this contemporary luxury property does not disappoint.
The median home price for the neighborhood is $610,000, however, within 1 mile of this property, several other multi-million dollar new builds have been completed, giving our borrower the comps they needed. Our borrower was able to reimagine the spacious lot and opted to construct a modern, luxurious single-family home, featuring modern Scandinavian-inspired finishes throughout. This home features 6 bedrooms, 5 full and 2 half baths, totaling approximately 7,000 square feet of living area.
This project started with an older single-family home located on a large, prime corner lot. Our borrower knew the maximum potential for resale value was based on starting from scratch versus renovating the existing property.
The final lot features an abundance of outdoor space, including a spacious backyard, two balconies located in the main and guest bedrooms, as well as a massive rooftop terrace. The focus on outdoor space paired with the contemporary styling makes this home attractive to both home-bodies and those who love being outdoors.
Inside this state-of-the-art luxury home, our borrower chose high-end features and materials inspired by Scandinavian designers that buyers in the Bethesda area expect for the price point.
The final product features an oversized 2-car garage, sleek, gourmet kitchen, custom bar with a glass-enclosed wine display, dining room, family room, plenty of bedrooms and bathrooms, as well as a designer laundry room.
Some of the most notable features of this home are the beautiful European oak wood floors throughout, custom mahogany pivot door, two-story foyer featuring one of the designer custom hand-blown glass chandeliers, Pella wood clad windows, custom cabinetry in the kitchen, smart Thermador appliances, and floating stairs with glass railing. The after repair value for this property is an impressive $3.05 million.
Washington Capital Partners was proud to finance this project and see this incredible new construction home come to life. It’s our mission to help our clients succeed in real estate investing with solid, profitable projects like this one. So if you are interested in acquiring your first or next fix and flip or new construction project, we’re happy to provide you with a free loan underwriting so you can see all of the costs and profits associated with financing your deal.
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