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507 OAKWOOD STREET
Washington, DC 20032
Quick Facts
- Bedroom:3
- Baths:2
- Area:1744sq ft
- Style:Colonial
- Year Built:1941
- Lot Size:0.06 acres
Description:
HAD A GREAT "FIX AND FLIP" INVESTOR RATIFIED CONTRACT AT $305K, BUT IT FELL THROUGH SOLELY BECAUSE TENANT REFUSED TO STATE HER PRICE TO VOLUNTARILY VACATE AND DC HAS NO PROVISION REQUIRING TENANT TO VACATE FOR A REHAB PURCHASER, ONLY FOR A PRIMARY RESIDENCE PURCHASER. THEREFORE PRIMARY RESIDENCE PURCHASER WILLING TO WAIT UP TO 90 DAYS FOR TENANT TO VACATE OR "BUY AND HOLD" INVESTOR WILLING TO PURCHASE WITH TENANT IN PLACE PREFERRED. 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. Pictures include Before Tenant Moved in and Current Condition, as Tenant never contacted Landlord to complain or report any issues for numerous years. Market rent, $2200. Property has 1 conventional 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 and no rent increases have ever been levied. TOPA Title Underwriting Completed. All other title work completed, as well. 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... BUYER FULLY RESPONSIBLE FOR THEIR OWN DUE DILIGENCE.
| Status | Active |
| Added to RealtyWatch | January 1, 2024 - 251 days ago |
| Listing Office | Bennett Realty Solutions, Nefretiti N Makenta |
| MLS ID | DCDC2121516 |
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Interior
- General: Floor Plan - Traditional,Formal/Separate Dining Room
- Rooms: Living Room,Dining Room,Bedroom 2,Kitchen,Den,Bedroom 1,Laundry,Storage Room,Utility Room,Bathroom 1,Bathroom 2
- Laundry: Basement,Has Laundry,Dryer In Unit,Washer In Unit,Lower Floor
- Basement: Unfinished,Connecting Stairway,Daylight, Full,Windows,Walkout Level,Walkout Stairs,Rear Entrance
- A/C: Central A/C,Window Unit(s)
- Heating: Y, Radiator, Natural Gas
- Fireplace: Mantel(s),Brick, Fireplace, Fireplaces: 1
- Disability Feature: None
- Eco/Green Feature: Fireplace/Wood Stove
Exterior
- General: Awning(s),Sidewalks,Street Lights, Above Grade,Below Grade
- Style: Colonial
- Parking: Paved Parking,Public
Construction
- General: Brick, 3, Slab
Location
- Originating MLS: BRIGHT_MAIN
- School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
- County: WASHINGTON
Lot
- Zoning: R-3, 6001//0029
- Fencing: Wrought Iron,Decorative,Chain Link,Fully,Rear
- Current Use: 0
Utilities
- Utilities: Electric Available,Natural Gas Available,Sewer Available
- Water: Public
- Sewer: Public Sewer
Financial
- Source: BRIGHT_MAIN
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