Twitter
Facebook
Email
|
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.
| DAYS ON MARKET | 2 | LAST UPDATED | 2/26/2025 |
|---|---|---|---|
| YEAR BUILT | 1936 | COUNTY | WASHINGTON |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHOOLS |
|---|
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| CONSTRUCTION | Brick |
| HEAT | Baseboard, Natural Gas |
| LOT | 3920 sq ft |
| PARKING | On Street |
| SEWER | Other |
| TAXES | 5908 |
| WATER | Other |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
0
P
I
*Estimate only
| SATELLITE VIEW |
| / | |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Todd
Stonesifer to contact you even if your name is on a Federal or State
"Do not call List".
Listing provided by Greysteel Company LLC
All information provided is deemed reliable but is not guaranteed and should
be independently verified. No reproduction, distribution, or transmission of the
information at this site is permitted without the written permission from the MLS
Participant.
IDX information is provided exclusively for consumer’s personal,non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
This IDX solution is (c) Diverse Solutions 2025.