Fixer Upper - Eco Friendly

Address

507 Oakwood Street SE, Washington, DC

Listing Type

Contingent

Price

$ 305,000

Property Attributes

MLS#DCDC2121516
TypeContingent
CountyWASHINGTON
CityWashington
NeighborhoodCongress Heights
Zip20032
StyleColonial
Year Built1941
Taxes$ 2627
Price$ 305,000
Bedrooms3
Full Bathrooms2
Half Bathrooms0
Sqr Footage1744
Lot Size2,614 SqFt

Data Source:

Bright MLS

Property Description

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.

Price History
12/12/2023	Listed $329,000
2/8/2024	7% - $309,000
2/16/2024	4% - $299,000
2/26/2024	7% - $279,000
3/9/2024	1% - $278,900
3/14/2024	1% - $278,800
3/20/2024	1% - $278,700
3/29/2024	1% - $278,600

General Features

Interior Features	Floor Plan - Traditional,Formal/Separate Dining Room
Sewer	Public Sewer
Heating	Radiator
Cooling	Central A/C,Window Unit(s)
Utilities	Electric Available,Natural Gas Available,Sewer Available
Possession	Settlement
Exterior Features	Awning(s),Sidewalks,Street Lights
Zoning	R-3
Patio/Porch Features	Porch(es),Deck(s)
Architectural Style	Colonial
Security Features	Window Grills
Construction Materials	Brick
Year Built	1941
Levels	3
Tax Year	2023
Percent Ownership	Fee Simple
Cool Fuel	None
Contingency Type	Other
Accessibility	None
County	WASHINGTON
New Construction	No
Property Type	Residential
HOA / Comm Assn	No
Energy Efficient	Fireplace/Wood Stove
Subdivision Name	CONGRESS HEIGHTS
Garage Y/N	No
Water Access Y/N	No
Other Structures	Above Grade,Below Grade
Status	ACTIVE UNDER CONTRACT
Directions	From 295,Take the Malcom X Avenue Exit,Turn left. Property is on the left. PROPERTY IS CONVENIENTLY LOCATED RIGHT OFF OF MALCOLM X AVENUE,LESS THAN A MILE FROM THE MULTI-MILLION DOLLAR ST ELIZABETH'
ModificationTimestamp	2024-05-15T07:36:26
City	WASHINGTON
Senior Community Y/N	No
Lot Size Square Feet	2475.00
Tax Assessed Value	318400.0
Waterfront Y/N	No
Street Name	OAKWOOD
Tax Annual Amount	2627.7
Property Condition	Average
Structure Type	Twin/Semi-Detached
Condo/Coop Association Y/N	No
Bathrooms Count Main Level	0.00
Price Per Sq Ft	237.54
Acceptable Financing	Cash,Private,Other
Additional Parcels Y/N	No
Historic Y/N	No
Vacation Rental Y/N	No
Total SQFT	1926
Days on Market	71
Standard Status	Active Under Contract
Year Built Source	Assessor
Legal Subdivision	Congress Heights
Tax Lot	29
Buyer Agent Compensation Type	% Of Gross
Association Recreation Fee	No

Interior Features

Heating Fuel	Natural Gas
Basement	Unfinished,Connecting Stairway,Daylight,Full,Windows,Walkout Level,Walkout Stairs,Rear Entrance
Total Fireplaces	1
Fireplace Features	Mantel(s),Brick
Hot Water	Natural Gas
Basement (Y/N)	Yes
Heating Y/N	Yes
Fireplace Y/N	Yes
Above Grade Finished Area	1284
Full Baths	2
Street Suffix	STREET
Central Air Y/N	Yes
Total Bedrooms	3
Below Grade Finished Area	460
Room Type	Living Room,Dining Room,Bedroom 2,Kitchen,Den,Bedroom 1,Laundry,Storage Room,Utility Room,Bathroom 1,Bathroom 2
Below Grade Finished Area Unit Type	Square Feet
LivingAreaSource	Assessor
Laundry Type	Basement,Has Laundry,Dryer In Unit,Washer In Unit,Lower Floor
Below Grade Unfin Area Units	Square Feet
Below Grade Unfin SQFT	182
Below Grade Unfin SQFT Source	Assessor
Below Grade Finished Area Source	Assessor
Bedrooms Count All Lower Levels	1
Bedrooms Count All Upper Levels	2
Bedrooms Count Lower Level 1	1
Bedrooms Count Upper Level 1	2
Bathrooms Full Upper Level 1	1
Bathrooms Full Lower Level 1	1
Bathrooms Full All Upper Levels	1
Bathrooms Full All Lower Levels	1
Bathrooms Count Upper Level 1	1.00
Bathrooms Count Lower Level 1	1.00
Bathrooms Count All Upper Levels	1
Bathrooms Count All Lower Levels	1
Above Grade Finished Area Source	Assessor
Above Grade Finished Area Unit Type	Square Feet
Total Baths	2

Exterior Features

Pool	No Pool
Fencing	Wrought Iron,Decorative,Chain Link,Fully,Rear
Parking Features	Paved Parking,Public
Lot Features	Front Yard,SideYard(s),Rear Yard,Landlocked
Water Source	Public
Type of Parking	On Street
Foundation Details	Slab
Water View Y/N	No
Lot Size Acres	0.06
Road Surface Type	Paved
Lot Size Units	Square Feet
Lot Size Source	Assessor
Soil Types	Urban Land-Sassafras-Chillum
Road Responsibility	Public
Land Assessed Value	139390.00
Navigable Water Y/N	No
Water Oriented Y/N	No

Room Details

Room	Dimensions	Level	Flooring	Details
Bathroom 1		Upper 1
Bathroom 2		Lower 1
Bedroom 1		Upper 1
Bedroom 2		Upper 1
Bedroom 2		Lower 1
Den		Lower 1
Dining Room		Main
Kitchen		Main
Laundry		Lower 1
Living Room		Main
Storage Room		Lower 1
Utility Room		Lower 1