249 OGLETHORPE STREET NW

WASHINGTON, DC 20011

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.

Listing courtesy of Greysteel Company LLC



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