507 Oakwood Street SE
Washington, DC 20032

  • 3 beds
  • 2 baths
  • 1,744 sqft
  • 2,475 sqft lot
  • $174 per sqft
  • 1941 build

TOPA Title Underwriting Completed. TOPA Affidavit signed by Tenant and notarized 5/8/24. All other title work completed, as well. 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... 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.

BRIGHT MLS logo Listing courtesy of BRIGHT / Bennett Realty Solutions

Last checked: Checking… • Last updated May 8, 2024 •

MLS# DCDC2121516 —

Monthly cost estimate

507 Oakwood Street SE

Asking price

$305,000

Expense Monthly cost
Mortgage

$1,633

Taxes $218
Insurance $83
Utilities $180 See report
Total $2,114/mo.*
*This is an estimate

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Sale history

Date Event Source Price % Change
4/10/24
Sold Subject To Contingencies BRIGHT $305,000 9.5%
3/28/24
Price Changed BRIGHT $278,600 -0.0%
3/20/24
Price Changed BRIGHT $278,700 -0.0%

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Listing provided by broker:

Nefretiti N Makenta

Bennett Realty Solutions

tlbattle@comcast.net

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This townhouse located in Southeast Washington, Washington, DC 20032 is currently for sale for $305,000. 507 Oakwood Street SE is a 1,744 square foot townhouse with 3 beds and 2 baths. 507 Oakwood Street SE is in the Southeast Washington neighborhood of Washington and has a WalkScore® of 75, making it very walkable. This townhouse is in the attendance area of King Elementary School, Ballou Senior High School, and Hart Middle School.

BRIGHT MLS logo Listing Courtesy of: BRIGHT and Bennett Realty Solutions.

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