REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Mon

Dec

Tue

Dec

Wed

Dec

Joseph Martin

Menkiti Group

jmart561@pm.me +1(561) 716-5970

Listed by Nefretiti N Makenta • Bennett Realty Solutions

$ 299,000

Est. payment -/mo

Save

Active

507 OAKWOOD ST SE Washington, DC 20032

3 Beds

2 Baths

1,744 SqFt

UPDATED:

Key Details

Property Type Single Family Home, Townhouse

Sub Type Twin/Semi-Detached

Listing Status Active

Purchase Type For Sale

Square Footage 1,744 sqft

Price per Sqft $171

Subdivision Congress Heights

MLS Listing ID DCDC2121516

Style Colonial

Bedrooms 3

Full Baths 2

HOA Y/N N

Abv Grd Liv Area 1,284

Year Built 1941

Available Date 2024-01-02

Annual Tax Amount $2,627

Tax Year 2023

Lot Size 2,475 Sqft

Acres 0.06

Property Sub-Type Twin/Semi-Detached

Source BRIGHT

Property 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. 2 LARGE BEDROOMS ON THE TOP FLOOR; 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 $489K, EST. (THE CONNECTED PROPERTY NEXT DOOR, SAME SF SOLD FOR $495K) PROPERTY HAS GREAT POTENTIAL, BUT NEEDS WORK. DATED BATHROOMS AND KITCHEN. GREAT BONES.
Property Being Sold Strictly As-Is. Reasonably Motivated Seller. 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. Market rent, $2200. Property has 1 conventional (non-HCVP, non-Section 8) tenant paying $1,800 per month, plus all utilities (gas, water and electric). GREAT rent payment history. Tenant is on a month-to-month lease. PHOTOS SHOW BEFORE TENANT MOVE-IN years ago (before 2018) AND RECENT CONDITION.
Seller prefers KVS Title, which is offering a $250 closing credit to Buyer. BUYER FULLY RESPONSIBLE FOR THEIR OWN DUE DILIGENCE.
#thisgemcouldbeyours!!!

Location

State DC

County Washington

Zoning R-3

Rooms

Other Rooms Living Room, Dining Room, Bedroom 2, Kitchen, Den, Bedroom 1, Laundry, Storage Room, Utility Room, Bathroom 1, Bathroom 2

Basement Unfinished, Connecting Stairway, Daylight, Full, Windows, Walkout Level, Walkout Stairs, Rear Entrance

Interior

Interior Features Floor Plan - Traditional, Formal/Separate Dining Room

Hot Water Natural Gas

Heating Radiator

Cooling Central A/C, Window Unit(s)

Fireplaces Number 1

Fireplaces Type Mantel(s), Brick

Fireplace Y

Heat Source Natural Gas

Laundry Basement, Has Laundry, Dryer In Unit, Washer In Unit, Lower Floor

Exterior

Exterior Feature Porch(es), Deck(s)

Fence Wrought Iron, Decorative, Chain Link, Fully, Rear

Utilities Available Electric Available, Natural Gas Available, Sewer Available

Water Access N

Street Surface Paved

Accessibility None

Porch Porch(es), Deck(s)

Road Frontage Public

Garage N

Building

Lot Description Front Yard, SideYard(s), Rear Yard, Landlocked

Story 3

Foundation Slab

Above Ground Finished SqFt 1284

Sewer Public Sewer

Water Public

Architectural Style Colonial

Level or Stories 3

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District District Of Columbia Public Schools

Others

Senior Community No

Tax ID 6001//0029

Ownership Fee Simple

SqFt Source 1744

Security Features Window Grills

Acceptable Financing Cash, Private, FHA 203(k), Other

Listing Terms Cash, Private, FHA 203(k), Other

Financing Cash,Private,FHA 203(k),Other

Special Listing Condition Standard