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. 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. 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 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 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

Date Added:

January 2, 2024 at 06:00AM

Listing Office:

Bennett Realty Solutions : 3014595040

Listing Agent:

Nefretiti N Makenta : 2027922722

MLS ID:

DCDC2121516

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

This listing courtesy of Nefretiti N Makenta, Bennett Realty Solutions