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507 Oakwood Street SE

WASHINGTON, DC 20032
  • $305,000
  • STATUS: Active Under Contract
  • ON SITE: 194 Days
  • ID#: DCDC2121516
Under Contract
$305,000
  • 3
    BEDS
  • 0.06
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 1,744
    SQFT
  • $175
    $/SQFT
Neighborhood:
Type:
Townhouse
Built:
1941
County:

School Ratings & Info

Description

ACCEPTING BACK UP OFFERS WITH TENANT IN PLACE. 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. TOPA Title Underwriting Completed. TOPA Completion Affidavit signed by Tenant and notarized May 2024. All other title work completed, as well. TENANT OFFERED $25K TO VOLUNARILY VACATE, BUT TENANT DID NOT ACCEPT AND DID NOT PROVIDE AN ALTERNATE ACCEPTABLE AMOUNT. Tenant expressed interest in purchasing, but could not/did not follow through. 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... 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.

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Tom & Cindy and Associates | Long & Foster Realtors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-23T23:49:50.77.
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507 Oakwood Street SE WASHINGTON, DC 20032

  • Price: $305,000
  • Status: Active Under Contract
  • On Site: 194 Days
  • ID#: DCDC2121516
3
Beds
2
Baths
0
½ Baths
0.06
Acres
1,744
SQFT
$175
$/SQFT
1941
Built
Neighborhood:
Congress Heights
County:
Washington
School District:
District Of Columbia Public Schools
Property Description
ACCEPTING BACK UP OFFERS WITH TENANT IN PLACE. 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. TOPA Title Underwriting Completed. TOPA Completion Affidavit signed by Tenant and notarized May 2024. All other title work completed, as well. TENANT OFFERED $25K TO VOLUNARILY VACATE, BUT TENANT DID NOT ACCEPT AND DID NOT PROVIDE AN ALTERNATE ACCEPTABLE AMOUNT. Tenant expressed interest in purchasing, but could not/did not follow through. 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... 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.
Exterior Features

Architectural Style Colonial Construction Materials Brick Exterior Features Awning(s)SidewalksStreet Lights Fencing Wrought IronDecorativeChain LinkFullyRear Garage YN No Lot Features Front YardSideYard(s)Rear YardLandlocked Parking Features Paved ParkingPublic Parking Types On Street Patio And Porch Features Porch(es)Deck(s) Pool No Pool Property Condition Average Road Responsibility Public Road Surface Type Paved Soil Types Urban Land-Sassafras-Chillum Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 1284 Basement UnfinishedConnecting StairwayDaylightFullWindowsWalkout LevelWalkout StairsRear Entrance Basement YN Yes Below Grade Finished Area 460 Below Grade Unfinished Area 182 Cooling Central A/CWindow Unit(s) Fireplace Features Mantel(s)Brick Fireplace YN Yes Fireplaces Total 1 Heating Radiator Heating YN Yes Interior Features Floor Plan - TraditionalFormal/Separate Dining Room Laundry Type BasementHas LaundryDryer In UnitWasher In UnitLower Floor Levels 3 Main Level Bedrooms 0 Room List Living RoomDining RoomBedroom 2KitchenDenBedroom 1LaundryStorage RoomUtility RoomBathroom 1Bathroom 2 Security Features Window Grills Upper Level1 Bedrooms 2

Property Features

Acceptable Financing CashPrivateOther Accessibility Features None Association YN No Central Air YN Yes Condo YN No Cooling Fuel None Federal Flood Zone YN No Foundation Details Slab Green Energy Efficient Fireplace/Wood Stove Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Navigable Water YN N New Construction YN No Original MLSNumber 802769760190 Ownership Interest Fee Simple Sale Type Standard Senior Community YN No Sewer Public Sewer Structure Design Type Twin/Semi-Detached Tax Annual Amount 2627.70 Tax Lot 29 Utilities Electric AvailableNatural Gas AvailableSewer Available Vacation Rental YN No Water Source Public Zoning R-3

Listing courtesy of Bennett Realty Solutions: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Tom & Cindy and Associates | Long & Foster Realtors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-23T23:49:50.77.
 
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