Five-Unit Tudor Apartment
For Sale
$875,000
8009 GARLAND Avenue, Takoma Park, MD 20912
Multi-Family, TAKOMA PARK, MD
Property Size2,300 SF
Lot Size0.18 Acres
Price / SF$380.43
Days on Market104
Property Features for 8009 GARLAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room, Basement
Parking features
On Street
Interior features
Entry Level Bedroom, Efficiency, Dining Area
Fireplace
1
Appliances
Refrigerator, Washer, Stove, Dryer
Elementary school
ROLLING TERRACE
Middle school
SILVER SPRING INTERNATIONAL
Elementary school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Middle school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
High school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,300 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
9298
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Amenities
laundry facility
bike storage
Building Details
Year built
1942
Number of units
4
Building materials
Brick, Combination, Stone
Architectural style
Tudor, Cape Cod
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(410) 224-2200
Listed By:
Elizabeth R Penttinen · License #530087
(443) 306-5050
Added: May 30
Changed: Sep 8
Last Checked: Sep 10 at 5:06PM
MLS# MDMC2237482
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1942 Tudor and Cape Cod–influenced apartment building contains five occupied units within approximately 2,300 square feet of living space. The configuration includes one two-bedroom apartment with a sunroom or potential third bedroom, one one-bedroom apartment with a sunroom or potential second bedroom, and three additional one-bedroom apartments. The property includes a brick, stone, and combination exterior, a custom arched entry door, fireplace facades, forced-air gas heat, window-unit cooling, and a basement laundry area with bike storage. Recent work includes roof improvements, wall painting, and new carpeting.
Positioned on a 7,836-square-foot corner lot at 8009 Garland Avenue, the property backs to Long Branch Park and is near playgrounds, sports courts, picnic areas, and trails. Electricity is separately metered for all five apartments, while public water and sewer serve the building. On-street parking is available, and current leases must be honored. The property is not subject to Takoma Park city proper rent restrictions.
Positioned on a 7,836-square-foot corner lot at 8009 Garland Avenue, the property backs to Long Branch Park and is near playgrounds, sports courts, picnic areas, and trails. Electricity is separately metered for all five apartments, while public water and sewer serve the building. On-street parking is available, and current leases must be honored. The property is not subject to Takoma Park city proper rent restrictions.
Key Highlights
- Five‑unit apartment building with approximately 2,300 sq ft of living space
- 0.18‑acre corner lot with 7,836 sq ft backing to Long Branch Park
- Unit mix includes one two‑bedroom, one one‑bedroom with sunroom, and three one‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,976
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$759,520
$759.5K
Cap Rate 7%
$542,514
$542.5K
Cap Rate 9%
$421,956
$422.0K
Market Conditions
NOI Build-Up for 2,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.2K $32.28/SF
− Vacancy
−$5.2K −$2.26/SF
EGI
$69.0K $30.02/SF
− OpEx
−$31.1K −$13.51/SF
NOI
$38.0K $16.51/SF
Area
Montgomery County, MD
Vacancy
7.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$759,520
Cap Rate 7%
$542,514
Cap Rate 9%
$421,956
Alternative Uses
Best Use
Apartment 5plus
$542.5K
$474.7K – $632.9K
NOI $37,976 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$809.1K
$708.0K – $943.9K
NOI $56,636 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,407
Businesses Nearby
Explore this area
Business Placement
Demographics for 20912, MD
25,463
Population
10,140
Households
2.5
Avg Household Size
38
Median Age
51%
College-Educated
86%
High-School Grad
2.7 sq mi
ZIP Area
9,431
Density / Sq Mi
$82,097
Median Household Income
$48,447
Median Earnings
$1,452
Median Rent
$671,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied Tudor-style apartment property with separately metered units, basement laundry, and direct proximity to Long Branch Park.
Where is this apartment building located?
The property is located at 8009 GARLAND Avenue Takoma Park, MD.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Five‑unit apartment building with approximately 2,300 sq ft of living space; 0.18‑acre corner lot with 7,836 sq ft backing to Long Branch Park; Unit mix includes one two‑bedroom, one one‑bedroom with sunroom, and three one‑bedroom apartments
