Kristi Shawley & Heather Rossi
Real Estate Professional
precisiononerealty@gmail.com +1(267) 992-01355,196 SqFt
5,196 SqFt
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
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
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REALTOR® | Lic# AB069312 | RS290887