NOT LISTED FOR SALE

Estimated Value: $390,000 - $472,000

2 Beds
2 Baths
850 Sq Ft
$789/mo HOA Fee

Last Sold August 11, 2023

Last sale price $425,000 $500 Per Sq Ft

Current estimated payment $3,535/month

33 Days on Market

Highlights

  • Concierge
  • Fitness Center
  • Open Floorplan
  • Woodlin Elementary School Rated A-
  • City View
  • 4-minute walk to Woodside Urban Park

About This Home

As of August 2023

Welcome to this stunning corner unit 2 bed, 2 bath condo at The Octave 1320 in Downtown Silver Spring. Octave 1320 was designed by BKV Group and developed by ProMark Real Estate Services out of a repurposed office building. Built 1964 but renovated in 2016 into condos, this building has 8 floors and a number of amenities. Because of the concrete office floor construction, you hardly hear your neighbors. There is an enclosed rooftop lounge which can be reserved for private parties (used by residents and guests but privately reserved for a fee) and a roof deck which has views of the Silver Spring skyline. The is a first-floor lounge features tables that you can work from home without actually working from home, and a bike storage room and separate storage room (assigned storage for this unit is #2 and is located in the lower level). The fitness center is located in the lower level of the building. The concierge works 7 days a week and will store your packages in a secure package storage room.

Walk into the front hallway which the current owners had set up as a home organization spot with the family calendar, mail station and more. The hall closet features a custom storage system and full-size in-unit laundry. This condo features a modern open concept living space with floor to ceiling windows. The kitchen offers grey cabinets, a gas stove, white title backsplash, and a built-in microwave and dishwasher. There is a pantry cabinet for all your food supplies. The Juliette balcony adds that extra pop of charm. There are two bedrooms and bathrooms in this condo. The primary suite has lots of light and floor to ceiling windows. The primary bath has a large shower and the closet features custom shelving. The hall bath features a bathtub shower combo.

Because of its recent construction, this condo features track lighting, recessed lighting and a sprinkler system. Parking in this unit does not convey. You can add your name to the parking wait list to get something assigned to you. You can park in the lot for $130/month or the county lot next door for $132/month.

As for location, you can’t get any better. This condo is in the heart of Downtown Silver Spring with everything that entails – restaurants, shops, movie theatre, the Silver Spring Library, the Fillemore, etc. Walk to the metro for the Silver Spring red line and the Purple Line which will be opening in a few years. You are also very conveniently located with just a short walk to the local breweries.

Improvements:
Freshly painted throughout, June 2023

Condo fee: $789/mon
Condo fee includes: Amenities – rooftop lounge, roof deck, first floor lounge, bike storage room, storage unit, fitness center, maintenance of the building, building utilities, water, property manager on-site.

Last Agent to Sell the Property

Melissa Terzis

(202) 253-9105 melissa@melissaterzis.com TTR Sotheby's International Realty License #638242 Listed on: 06/27/2023

TTR Sotheby's International Realty

Co-Listed By

Hannah Clancy-Thompson

(301) 377-9757 hannah@rewealthrescuer.com TTR Sotheby's International Realty License #225263271

Last Buyer's Agent

Kelly Basheer Garrett

(202) 258-7362 kgarrett@ttrsir.com TTR Sotheby's International Realty License #634175

TTR Sotheby's International Realty

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $5,058

Year Built

  • Built in 1964 | Remodeled in 2015

Lot Details

  • Downtown Location
  • Sprinkler System
  • Property is in very good condition

HOA Fees

  • $789 Monthly HOA Fees

Home Design

  • Entry on the 7th floor
  • Metal Siding
  • Composite Building Materials

Interior Spaces

  • 850 Sq Ft Home
  • Property has 1 Level
  • Open Floorplan
  • Recessed Lighting
  • Sliding Doors
  • Living Room
  • Wood Flooring

Kitchen

  • Gas Oven or Range
  • Built-In Microwave
  • Dishwasher
  • Stainless Steel Appliances

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • En-Suite Bathroom
  • 2 Full Bathrooms

Laundry

  • Laundry on main level
  • Dryer
  • Washer

Accessible Home Design

  • Accessible Elevator Installed
  • No Interior Steps
  • Level Entry For Accessibility

Schools

  • Woodlin Elementary School
  • Sligo Middle School
  • Albert Einstein High School

Utilities

  • Central Heating and Cooling System
  • Natural Gas Water Heater
  • No Septic System

Listing and Financial Details

  • Assessor Parcel Number 161303772981

Community Details

Overview

  • Association fees include common area maintenance, exterior building maintenance, management, recreation facility, reserve funds, sewer, trash, water
  • Mid-Rise Condominium
  • Octave 1320 Condos
  • Built by ProMark Development
  • The Octave Codm Community
  • Silver Spring Subdivision
  • Property Manager

Amenities

  • Concierge
  • Community Center
  • Meeting Room
  • Party Room

Recreation

Pet Policy

  • Limit on the number of pets
  • Dogs and Cats Allowed
  • Breed Restrictions

Property Details

Home Type

Condominium

Est. Annual Taxes

$5,058

Year Built

Built in 1964 | Remodeled in 2015

Lot Details

0

HOA Fees

$789 per month

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Mid-Rise 5 - 8 Floors
  • Architectural Style: Unit/Flat
  • Accessibility Features: Elevator, Level Entry - Main, No Stairs
  • Ownership: Condominium
  • Historic: No
  • New Construction: No
  • Story List: Main
  • Expected On Market: 2023-06-27
  • Federal Flood Zone: No
  • Year Built: 1964
  • Year Renovated: 2015
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Washer Dryer Hookups YN: Yes
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 0

Interior Features

  • Appliances: Built-In Microwave, Dishwasher, Dryer, Oven - Single, Oven/Range - Gas, Refrigerator, Stainless Steel Appliances, Washer
  • Entry Floor: 7
  • Interior Amenities: Combination Dining/Living, Combination Kitchen/Living, Entry Level Bedroom, Floor Plan - Open, Pantry, Primary Bath(s), Recessed Lighting, Sprinkler System, Wood Floors
  • Fireplace: No
  • Door Features: Sliding Glass
  • Levels Count: 1
  • Room List: Living Room, Bedroom 2, Kitchen, Bedroom 1, Bathroom 1, Bathroom 2
  • Basement: No
  • Laundry Type: Dryer In Unit, Has Laundry, Main Floor, Washer In Unit
  • Total Sq Ft: 850
  • Living Area Sq Ft: 850
  • Price Per Sq Ft: 500.00
  • Above Grade Finished Sq Ft: 850
  • Above Grade Finished Area Units: Square Feet

Beds/Baths

  • Bedrooms: 2
  • Main Level Bedrooms: 2
  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Main Level Bathrooms: 2.00
  • Main Level Full Bathrooms: 2

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Composition, Metal Siding
  • Spa: No
  • View: City
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No

Utilities

  • Refuse: 17.29
  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Natural Gas
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: No Septic System
  • Water Source: Public
  • Municipal Trash: No

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 789.00
  • Condo Co-Op Fee Frequency: Monthly
  • Condo Co-Op Name: Octave 1320
  • HOA Condo Co-Op Amenities: Community Center, Concierge, Elevator, Exercise Room, Extra Storage, Meeting Room, Party Room
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Ext Bldg Maint, Management, Recreation Facility, Reserve Funds, Sewer, Trash, Water
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No

Fee Information

  • Front Foot Fee Pymt Freq: Annually

Schools

  • Elementary School Source: Listing Agent
  • High School Source: Listing Agent
  • Middle School Source: Listing Agent
  • School District Source: Listing Agent
  • Elementary School: WOODLIN
  • High School: ALBERT EINSTEIN
  • Middle Or Junior School: SLIGO

Lot Info

  • Horses: No
  • Additional Parcels: No
  • Property Condition: Very Good
  • Zoning: COMMERCIAL
  • In City Limits: Yes

Building Info

  • Builder Name: ProMark Development

Rental Info

  • Ground Rent Exists: No
  • Lease Considered: No
  • Pets: Cats Ok, Dogs Ok, Breed Restrictions, Number Limit
  • Pets Allowed: Yes
  • Vacation Rental: No
  • Property Manager: Yes

Tax Info

  • Tax Annual Amount: 5058.00
  • Assessor Parcel Number: 161303772981
  • County Tax Payment Frequency: Annually
  • Tax Year: 2022

MLS Schools

  • School District Name: MONTGOMERY COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 30, 2017
Sold by
Chun Cheryl and Heithoff Paul
Bought by
Chun Cheryl and Heithoff Paul
Current Estimated Value
$426,349

Purchase Details

Closed on
Jun 13, 2016
Sold by
1320 Residences Llc
Bought by
Chun Cheryl and Heithoff Paul

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$377,900
Outstanding Balance
$300,766
Interest Rate
3.57%
Mortgage Type
New Conventional
Estimated Equity
$125,583
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Chun Cheryl -- None Available
Chun Cheryl $419,900 Closeline Llc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chun Cheryl $377,900
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/11/2023 08/11/23 Sold $425,000 0.0% $500 / Sq Ft
07/30/2023 07/30/23 Pending -- -- --
07/28/2023 07/28/23 Price Changed $425,000 -1.8% $500 / Sq Ft
07/21/2023 07/21/23 Price Changed $433,000 +1.9% $509 / Sq Ft
06/27/2023 06/27/23 For Sale $425,000 -- $500 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,017 $480,000 $144,000 $336,000
2024 $6,017 $510,000 $153,000 $357,000
2023 $4,956 $478,333 $0 $0
2022 $3,600 $446,667 $0 $0
2021 $4,004 $415,000 $124,500 $290,500
2020 $3,987 $413,333 $0 $0
2019 $3,966 $411,667 $0 $0
2018 $3,955 $410,000 $123,000 $287,000
2017 $4,770 $410,000 $0 $0
2016 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: MDMC2094908

Bright MLS

APN: 13-03772981