About 507 Oakwood St Se
THIS IS A WONDERFUL FIXER-UPPER 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. Plat attached: Image 6. 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... Seller prefers KVS Title, which is offering a $250 closing credit to Buyer. Title work completed. TOPA Process Completed 1/16/24. Market rent, $2200. Property has 1 conventional (non-HCVP, non-Section 8) tenant paying $1,500 per month, plus all utilities (gas, water and electric). Solid rent payment history. Tenant is on a month-to-month lease; lives with 1 "authorized occupant" adult relative; and no rent increases have ever been levied. Pictures include Before Tenant Moved in and Current Condition, as Tenant never contacted Landlord to complain or report any issues for numerous years. BUYER FULLY RESPONSIBLE FOR THEIR OWN DUE DILIGENCE.
Features of 507 Oakwood St Se
| MLS® # | DCDC2121516 |
|---|---|
| Price | $305,000 |
| Bedrooms | 3 |
| Bathrooms | 2.00 |
| Full Baths | 2 |
| Square Footage | 1,744 |
| Acres | 0.06 |
| Year Built | 1941 |
| Type | Residential |
| Sub-Type | Twin/Semi-Detached |
| Style | Colonial |
| Status | Active Under Contract |
Community Information
| Address | 507 Oakwood St Se |
|---|---|
| Subdivision | CONGRESS HEIGHTS |
| City | WASHINGTON |
| County | WASHINGTON-DC |
| State | DC |
| Zip Code | 20032 |
Amenities
| Amenities | Formal/Separate Dining Room |
|---|---|
| Utilities | Electric Available, Natural Gas Available, Sewer Available |
| Parking | PublPark, Paved Parking |
| Is Waterfront | No |
Interior
| Interior Features | Floor Plan-Traditional |
|---|---|
| Heating | Radiator |
| Cooling | Central A/C, Window Unit(s) |
| Has Basement | Yes |
| Basement | Unfinished, Connecting Stairway, Daylight, Full, Windows, Walkout Level, Walkout Stairs, Rear Entrance |
| Fireplace | Yes |
| # of Fireplaces | 1 |
| Fireplaces | Mantel(s), Brick |
| # of Stories | 3 |
| Stories | 3 |
Exterior
| Exterior | Brick and Siding |
|---|---|
| Exterior Features | Sidewalks, Street Lights, Porch(es), Deck(s), Awning(s), Decorative Fence, Fenced-Fully, Fenced-Rear, Chain Link Fence, Wrought Iron |
| Lot Description | Rear Yard, Landlocked, Front Yard, SideYard(s) |
| Foundation | Slab |
School Information
| District | DISTRICT OF COLUMBIA PUBLIC SCHOOLS |
|---|
Additional Information
| Date Listed | January 1st, 2024 |
|---|---|
| Days on Market | 71 |
| Zoning | R-3 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Listing Agent | Nefretiti Makenta |
|---|---|
| Listing Office | Bennett Realty Solutions |
| Listing Office Phone | 3014595040 |