Five-Unit Tudor
For Sale
$875,000
8009 Garland Ave, Takoma Park, MD 20912
Turnkey five-unit property fully occupied with separate electric meters, recent updates, and a corner-lot setting backing Long Branch Park.
Property Size2,300 SF
Price / SF$380.43
Days on Market102
Property Features for 8009 Garland Ave
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
5
Building Details
Year Built
1942
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Elizabeth R Penttinen · License #530087
(443) 306-5050
Source:
Wagnerhomegroup
Added: Jun 1
Changed: Sep 8
Last Checked: Sep 9 at 11:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This five-unit Tudor cottage at 8009 Garland Ave offers a compact, symmetrical layout with Tudor Revival character and multiple apartment configurations. The property is approximately 2,300 sq ft and sits on a 7,836 sq ft corner lot backing to Long Branch Park. It includes several unit types, including a two-bedroom option with a sunroom or potential third bedroom, additional one-bedroom apartments with sunrooms or flex space, and three one-bedroom units featuring fireplace facades. Each apartment is separately metered for electricity, supporting resident-by-resident utility management. Recent improvements include a new roof, fresh wall paint, new carpeting, and a custom arched entry door, with owner management and appliance updates as units turn. Building amenities include public water/sewer, gas heat, and a basement laundry facility with bike storage.
Set on a tranquil, tree-lined street, the property provides ample corner parking and easy access to park amenities such as playgrounds, sport courts, picnic areas, and extensive trails. The surrounding area also offers convenient proximity to shopping, restaurants, Metro, Washington Adventist University, and downtown Takoma Park. The building is fully occupied, and current leases must be honored; showings are described as extremely limited.
With separate electric metering, consistent owner attention to maintenance, and a layout well-suited to a mix of residents, this is positioned as a low-maintenance, long-term income asset. The remarks also note it is not subject to Takoma Park city proper rent restrictions, which may appeal to investors seeking stability alongside the opportunity for income growth. For owner-occupants, the configuration supports the option to live in one unit while renting the remaining four.
Set on a tranquil, tree-lined street, the property provides ample corner parking and easy access to park amenities such as playgrounds, sport courts, picnic areas, and extensive trails. The surrounding area also offers convenient proximity to shopping, restaurants, Metro, Washington Adventist University, and downtown Takoma Park. The building is fully occupied, and current leases must be honored; showings are described as extremely limited.
With separate electric metering, consistent owner attention to maintenance, and a layout well-suited to a mix of residents, this is positioned as a low-maintenance, long-term income asset. The remarks also note it is not subject to Takoma Park city proper rent restrictions, which may appeal to investors seeking stability alongside the opportunity for income growth. For owner-occupants, the configuration supports the option to live in one unit while renting the remaining four.
Key Highlights
- Five‑unit Tudor Cottage built in 1942, approximately 2,300 sq ft on a 7,836 sq ft corner lot backing Long Branch Park
- Fully occupied with five separate apartment styles; each unit is separately metered for electricity
- Rentable mix: one 2‑bedroom unit option (with sunroom or 3rd bedroom), one 1‑bedroom option (with sunroom or 2nd bedroom), and three 1‑bedroom units
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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Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,202
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey five-unit property fully occupied with separate electric meters, recent updates, and a corner-lot setting backing Long Branch Park.
Where is this apartment building located?
The property is located at 8009 Garland Ave 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 Tudor Cottage built in 1942, approximately 2,300 sq ft on a 7,836 sq ft corner lot backing Long Branch Park; Fully occupied with five separate apartment styles; each unit is separately metered for electricity; Rentable mix: one 2‑bedroom unit option (with sunroom or 3rd bedroom), one 1‑bedroom option (with sunroom or 2nd bedroom), and three 1‑bedroom units
