Home Finances Four black women bought a D.C. apartment for $75,000 in 1986, which may now be worth more than $1 million.

Four black women bought a D.C. apartment for $75,000 in 1986, which may now be worth more than $1 million.

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Four Black Women Bought A D.c. Apartment For $75,000 In

Unexpected circumstances led to the creation of friends and family.Well, they I’m ready to close this chapter About where it all started.

according to In 1986, four women jumped at the chance to buy a Washington, D.C. apartment for $75,000 that the owner wanted to sell, according to the Washington Post.

Now, the women plan to sell the unit that was the culmination of a sisterhood that began decades ago.

“As a group, we never imagined owning this building,” said Janice Washington, one of four women who were able to own the building. to buy a building Despite making less than $15,000 a year, thanks to help from local nonprofits and the Washington, D.C., government.

Washington, along with Arlie Hendrix, Joanne Jenkins, and Betty Perry, own the DC Building, a six-unit complex located in Washington’s Northwest neighborhood.

According to the original Washington Post article, Hendrix’s sister, Maud Patterson, and Howard University student Timothy Harmon contributed to the purchase at the time. However, they no longer live in the building.

The remaining women live in their own units within the building and have stood the test of time, even though they were lucky enough to meet someone. Housing costs drive people out of the area. They supported each other through death and illness in their respective families.

This group has witnessed the birth of their children and then their grandchildren, but one thing has always remained the same. It’s love for each other.

“We were a family,” Washington said. “There’s nothing we don’t do together.”

After nearly 40 years of watching the area and building change, the women decided to come together and sell the building. Noel Christine Spencer of TTR Sotheby’s International Realty points out: similar characteristics Each store sells for more than $1 million in the same area. In fact, she recalls another building that recently sold for about $2 million.

“I didn’t know what I was getting into,” Spencer said, sitting among the women. “This is a great success story. The fact that through the hard times, through the hard times, through all the housing crises, you guys are still together.”

As women got older, they realized why they were willing to part with real estate.

“I’m ready,” Jenkins said. Jenkins also has relatives living in other rooms in the building. “We’re tired of fighting for parking spaces. Now we have a huge opportunity to get something out of our efforts.”

Before retiring, all four women held full-time jobs managing the building, which Washington recalls as a side job.

“We attended every meeting held by the government,” Hendricks added. “We were going to the southeast, northeast, everywhere.”

Once the building is sold, Hendricks, Perry and Washington all plan to move into a senior housing complex in Washington, D.C.

Meanwhile, Jenkins hopes to find a one-story home in Maryland.

“I know it’s going to be a happy ending for all of us,” Washington said. “The problem is, I’m not ready for the ending.”

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