Spicer Real Estate
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$250,000
Active Active
DC,Washington

Location 507 OAKWOOD STREET, Washington, DC 20032

  • Sqft 1,744 Sqft SQFT
  • Bed 3
  • Bath 2
Basic Details Basic Details
Description

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...

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!!!

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Basic Details
  • Property Type: Residential
  • Listing Type: Active
  • Listing ID: DCDC2240840
  • Price: $250,000
  • Bedrooms: 3
  • Bathrooms: 2
  • Sqft: 1,744 Sqft
  • Year Built: 1941
  • Lot Area: 0.06 Acre
  • Location: US, DC, WASHINGTON-DC, Washington, CONGRESS HEIGHTS, 20032
  • Structure Type: Twin/Semi-Detached
  • Heating System: Radiator
  • Cooling System: Central A/C, Window Unit(s)
  • Basement: Unfinished, Connecting Stairway, Daylight, Full, Windows, Walkout Level, Walkout Stairs, Rear Entrance
  • Fence: WroughtIron, Decorative, ChainLink, Fully, Rear
  • Fireplace: Mantel(s), Brick
  • Patio: Porch, Deck
  • Parking: Paved Parking, Public
  • Full Bathrooms: 2
  • Listing Status: Active
Features & Appliances
Features
  • Utilities: Electric Available, Natural Gas Available, Sewer Available
  • Architectural Style: Colonial
  • Exterior Features: Awning(s), Sidewalks, Street Lights
  • Fireplaces Total: 1
  • Interior Features: Floor Plan - Traditional, Formal/Separate Dining Room
  • Sewer: Public Sewer
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Address Map Address Map
MLS Addon MLS Addon
  • Office Name: Bennett Realty Solutions
  • Agent Name: Nefretiti N Makenta
Additional Information Additional Information
  • Water Source: Public
  • Accessibility Features: None
  • Construction Materials: Brick
  • Foundation Details: Slab
  • Levels: 3
  • Lot Features: Front Yard, SideYard(s), Rear Yard, Landlocked
  • On Market Date: 2026-01-13
Financial Financial
  • Tax Annual Amount: 2627.7
Listing Information Listing Information
  • Originating System Name: Bright
  • List Agent Mls Id: 97973
  • List Office Mls Id: EXBR1
  • MLS Status: ACTIVE-BRIGHT
  • Modification Timestamp: 2026-08-02T17:21:02Z
  • Status Change Timestamp: 2026-01-13T05:00:00Z
Rob Spicer Broker, GRI Rob Spicer Broker, GRI Spicer Real Estate

7201 Wisconsin Avenue

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