249 OGLETHORPE ST NW new to site Save Request In-Person Tour Request Virtual Tour
Washington,DC 20011
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,196 sqft
Price per Sqft $182
MLS Listing ID DCDC2186894
Originating Board BRIGHT
Year Built 1936
Annual Tax Amount $5,908
Tax Year 2024
Lot Size 3,749 Sqft
Acres 0.09
Property Sub-Type Five Or More Units
Property Description
THE OPPORTUNITY:
249 Oglethorpe Street NW is a five-unit property located along 3rd Street NW immediately north of Fort Slocum Park and a two-minute walk to Capital City Public Charter School in the Northwest DC neighborhood of Manor Park.
GREAT IN-PLACE CASH FLOW:
The Property boasts extremely high in-place rents of $1,740 for one-bedroom + den units and $1,967 for two-bedroom units, placing it among the top of comparable properties in the immediate submarket. Furthermore, the Property has 100% occupancy, showing its consistent, stable returns. This exceptional rent performance also positions the asset as a premium investment opportunity with robust gross annual income of $112,560 in 2024.
VALUE-ADD POTENTIAL:
The Property boasts extremely spacious units with the possibility of converting extra rooms into more bedrooms. The one-bedroom units' dens could be converted into a second bedroom, while the two-bedroom units have large, stand-alone living rooms which tenants in the past have used as a third bedroom.
WELL-MAINTAINED ASSET:
The Property is extremely well-maintained, reflecting the commitment of current ownership. In 2024 alone, the owners invested over $22,000 in window replacements and structural upgrades, ensuring the building's reliability and appeal. These enhancements improve tenant comfort and help preserve long-term value for investors.
CONVENIENT ACCESS TO NEIGHBORHOOD RETAIL:
Conveniently located just a 15-minute walk from Walmart and numerous retail and service providers along Georgia Avenue NW, this Property offers immediate access to everyday essentials. It is also a quick three-minute stroll to Capital City Public Charter School, sits adjacent to Fort Slocum Park, and lies an eight-minute walk from Takoma Community Center. This strategic setting positions residents within reach of key amenities, enhancing overall appeal and tenant satisfaction.
Location
State DC
County Washington
Zoning R-1-B
Interior
Hot Water Natural Gas
Heating Baseboard - Electric
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 6.0
Water Access N
Accessibility Other
Total Parking Spaces 6
Garage N
Building
Sewer Other
Water Other
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 3337//0127
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard