507 OAKWOOD ST SE, Washington, DC 20032

• 3 beds |
• 2 baths |
• 1,744 sqft

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. 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!!!

Listing Status:

Active

Data Last Updated:

July 5, 2026 at 6:19PM

Listing Office:

Bennett Realty Solutions : 3014595040

Listing Agent:

Nefretiti N Makenta : 2027922722

MLS ID:

DCDC2240840

Interior

• General: Floor Plan - TraditionalFormal/Separate Dining Room
• Rooms: Living RoomDining RoomBedroom 2KitchenDenBedroom 1LaundryStorage RoomUtility RoomBathroom 1Bathroom 2
• Laundry: BasementHas LaundryDryer In UnitWasher In UnitLower Floor
• Basement: UnfinishedConnecting stairwayDaylightFullWindowsWalkout levelWalkout stairsRear entrance
• A/C: Central A/CWindow Unit(s)
• Heating: RadiatorNatural Gas
• Fireplace: Mantel(s)BrickFireplaceFireplaces: 1
• Disability Feature: None
• Eco/Green Feature: Fireplace wood stove

Exterior

• General: Awning(s)SidewalksStreet LightsAbove GradeBelow Grade
• Style: Colonial
• Other Structures: PorchDeck
• Parking: Paved ParkingPublic

Construction

• General: Brick3Slab

Location

• Originating MLS: BRIGHT_MAIN
• School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
• County: WASHINGTON-DC

Lot

• Zoning: R-36001//0029
• Fencing: WroughtIronDecorativeChainLinkFullyRear

Utilities

• Utilities: Electric availableNatural gas availableSewer available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN