Licensed Apartment Building With Rooming
For Sale
$900,000
2809 Gainesville St SE, Washington, DC 20020
Income property with licensed apartments, rooming accommodations, separate access, and secured outdoor areas.
Property Size4,200 SF
Price / SF$214.29
Days on Market48
Property Features for 2809 Gainesville St SE
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Multi-Family
Building Details
Year Built
1945
Listing Agency:
Houwzer, LLC
Listed By:
Pamela Debnam · License #0225264797
(252) 903-3616
Source:
Belegacyre
Added: Sep 2
Changed: Oct 3
Last Checked: Oct 7 at 12:55PM
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 Houwzer, LLC
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Investment Insights
Based on property information with market context.
This 1945 multifamily property combines four licensed apartments with a four-room licensed rooming house, for eight units overall. The building contains 14 bedrooms and 5 baths, including two two-bedroom apartments, two three-bedroom apartments, and four individual rooms. Units feature window air-conditioning, ceiling fans, baseboard heat, ceramic tile in kitchen and bathroom areas, and carpeting. The rooming house has separate rear access, individual refrigerators, and utilities, internet, and basic cable included. Recent work includes hallway carpet replacement and interior and exterior painting.
The fully fenced property includes high-definition security cameras with 1TB storage, timed exterior lighting, two rear parking spaces, and additional street parking. The rooftop provides elevated views. The property is one block from the 7th District Police Station and a Metro bus stop, with three Metro Rail stops within 10 minutes. Skyland Shopping Center and Good Hope Safeway are a three-block walk away, with access to major routes throughout the DMV.
The fully fenced property includes high-definition security cameras with 1TB storage, timed exterior lighting, two rear parking spaces, and additional street parking. The rooftop provides elevated views. The property is one block from the 7th District Police Station and a Metro bus stop, with three Metro Rail stops within 10 minutes. Skyland Shopping Center and Good Hope Safeway are a three-block walk away, with access to major routes throughout the DMV.
Key Highlights
- Eight licensed units: 4 apartments and a 4‑room rooming house
- 14 bedrooms and 5 baths, including 2 two‑bedroom and 2 three‑bedroom apartments
- Separate rear entrance serves the rooming house
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,303
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,326,060
$1.3M
Cap Rate 7%
$947,186
$947.2K
Cap Rate 9%
$736,700
$736.7K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$128.5K $30.60/SF
− Vacancy
−$8.0K −$1.90/SF
EGI
$120.6K $28.70/SF
− OpEx
−$54.2K −$12.92/SF
NOI
$66.3K $15.79/SF
Area
ZIP 20020
Vacancy
6.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,326,060
Cap Rate 7%
$947,186
Cap Rate 9%
$736,700
Alternative Uses
Best Use
Apartment 5plus
$947.2K
$828.8K – $1.11M
NOI $66,303 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,793 @ 7.0% cap · market cap 16.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
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Business Placement
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Income property with licensed apartments, rooming accommodations, separate access, and secured outdoor areas.
Where is this apartment building located?
The property is located at 2809 Gainesville St SE Washington, DC.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Eight licensed units: 4 apartments and a 4‑room rooming house; 14 bedrooms and 5 baths, including 2 two‑bedroom and 2 three‑bedroom apartments; Separate rear entrance serves the rooming house
