507 Oakwood St Se, Washington, DC 20032
Local realty services provided by:ERA Martin Associates
507 Oakwood St Se,Washington, DC 20032
$250,000
- 3 Beds
- 2 Baths
- 1,744 sq. ft.
- Single family
- Active
Listed by: nefretiti n makenta
Office: bennett realty solutions
MLS#:DCDC2240840
Source:BRIGHTMLS
Price summary
- Price:$250,000
- Price per sq. ft.:$143.35
About this home
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!!!...
Contact an agent
Home facts
- Year built:1941
- Subdivision & Development:CONGRESS HEIGHTS
- Listing ID #:DCDC2240840
- Added:212 day(s) ago
- Updated:August 14, 2026 at 01:59 PM
Rooms and interior
- Bedrooms:3
- Total bathrooms:2
- Full bathrooms:2
- Dining Description:Dining Room, Formal/Separate Dining Room
- Bathrooms Description:Bathroom 1, Bathroom 2
- Basement:Yes
- Basement Description:Connecting Stairway, Daylight, Full, Rear Entrance, Unfinished, Walkout Level, Walkout Stairs, Windows
- Living area:1,744 sq. ft.
Heating and cooling
- Cooling:Central A/C, Window Unit(s)
- Heating:Natural Gas, Radiator
Structure and exterior
- Year built:1941
- Building area:1,744 sq. ft.
- Lot area:0.06 Acres
- Lot Features:Front Yard, Landlocked, Rear Yard, SideYard(s), Urban
- Architectural Style:Colonial
- Construction Materials:Brick
- Exterior Features:Awning(s), Deck(s), Porch(es), Sidewalks, Street Lights
- Foundation Description:Slab
- Levels:3 Story
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$250,000
- Price per sq. ft.:$143.35
- Tax amount:$2,627 (2023)
Features and amenities
- Laundry features:Dryer In Unit, Has Laundry, Laundry, Washer In Unit
- Amenities:Electric Available, Natural Gas Available, Window Grills
Parking
- Parking description:On Street, Paved Parking, Public
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