507 Oakwood St SE,WASHINGTON, DC 20032
WASHINGTON, DC 20032
Description
THIS IS A WONDERFUL FIXER-UPPER "BUY AND HOLD" INVESTMENT (*OPPORTUNITY ZONE*, see below) OR OWNER OCCUPANT PROPERTY ON A LOVELY TREE-LINED, HOMEOWNER BLOCK. PLEASE NOTE, PER DC, AS LONG AS THE NEW (BUY AND HOLD) BUYER IS NOT UNDER DC RENT CONTROL AT THE TIME OF PURCHASE, INVESTOR BUYER CAN INCREASE RENT UP TO MARKET RENT IMMEDIATELY UPON PURCHASE. Market Rent upon renovation is approximately $2400-$3000 for conventional tenant. Tenant is on a month-to-month lease. Property has 1 conventional tenant paying $1,800 per month, plus all utilities (gas, water and electric). GREAT rent payment history. Property Being Sold Strictly As-Is.TWO (2) LARGE BEDROOMS ON THE TOP FLOOR; ONE (1) DECENT-SIZED BEDROOM IN BASEMENT. BASED ON THE CURRENT CONFIGURATION AND WITH 1900SF OF INTERIOR SPACE. BUYER CAN EASILY ADD ADDITIONAL BEDROOMS AND A 1/2 BATH ON THE MAIN FLOOR, WHICH INCLUDES A BEAUTIFUL WOOD-BURNING FIREPLACE. PROPERTY ALREADY HAS A GOOD BASEMENT CEILING HEIGHT, APPROXIMATELY 7-FEET, NO NEED TO DIG DOWN FOR ADDED VALUE. ARV $425K, EST. (THE CONNECTED PROPERTY NEXT DOOR, SAME SF SOLD FOR $495K a few years ago) PROPERTY HAS GREAT POTENTIAL, BUT NEEDS WORK. DATED BATHROOMS AND KITCHEN. GREAT BONES. INVESTOR ALERT. INVESTOR SPECIAL. Buying and investing in a property in an *OPPORTUNITY ZONE can provide a great opportunity for capital gains tax deferral, reduction and abatement, ETC., possibly even better than the 1031 Exchange, they say... TOPA Process Completed. PHOTOS SHOW BEFORE TENANT MOVE-IN years ago (before 2018) AND RECENT CONDITION. Seller prefers KVS Title, which is very far along in the title clearance process and is offering a $250 closing credit to Buyer. BUYER FULLY RESPONSIBLE FOR THEIR OWN DUE DILIGENCE. #thisgemcouldbeyours!!!
Details
| MLS # | DCDC2240840 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1941 |
| Days On Site | 228 |
| Listing Provided By | Bennett Realty Solutions | Nefretiti N Makenta |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,744 |
| Basement | Y |
| Story(s) | 3 |
| Zoning | R-3 |
| Acreage | 0.06 |
Interior
| Cooling | Central A/C, Window Unit(s) |
|---|---|
| Heating Yes / No | Yes |
| Heating | Radiator |
| Interior Features | Floor Plan - Traditional, Formal/Separate Dining Room |
Exterior
| Exterior Features | Awning(s), Sidewalks, Street Lights |
|---|---|
| Security Features | Window Grills |
| Construction Materials | Brick |
| Foundation Details | Slab |
| Lot Features | Front Yard, Side Yard(s), Rear Yard, Landlocked |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Paved Parking, Public |
Utilities
| Utilities | Electric Available, Natural Gas Available, Sewer Available |
|---|
Taxes
| Tax Annual Amount | 2627.7 |
|---|
Area Information
| State | DC |
|---|---|
| County | WASHINGTON DC |
| City | WASHINGTON |
| Zip Code | 20032 |
| Area | WASHINGTON DC |
| Community Name | CONGRESS HEIGHTS |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHO |
| Listing VS Median (in CONGRESS HEIGHTS) | |
Price: $250,000 low | high Med: $135,000 sqft: 1,744 low | high Med: 730 $ / sqft: $143 low | high Med: $185 On site: 228 low | high Med: 34.5 | |
Market Activity 20032
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Learn More About This Property
| State | DC |
|---|---|
| County | WASHINGTON DC |
| City | WASHINGTON |
| Zip Code | 20032 |
| Area | WASHINGTON DC |
| Community Name | CONGRESS HEIGHTS |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHO |
| Listing VS Median (in CONGRESS HEIGHTS) | |
Price: $250,000 low | high Med: $135,000 sqft: 1,744 low | high Med: 730 $ / sqft: $143 low | high Med: $185 On site: 228 low | high Med: 34.5 | |
