8-Unit Apartment
For Sale
$1,000,000
2809 GAINESVILLE Street SE, Washington, DC 20020
Multi-Family, WASHINGTON, DC
Property Size4,200 SF
Lot Size0.11 Acres
Price / SF$238.10
Days on Market153
Property Features for 2809 GAINESVILLE Street SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room
Parking features
On Street
Interior features
Kitchen - Eat-In, Combination Dining/Living
Appliances
Disposal, Refrigerator, Oven/Range - Gas, Oven/Range - Electric
Subdivision
RANDLE HEIGHTS
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
4,200 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
5410
Utilities
Heating system
Hot Water(Heating)
Cooling system
Ceiling Fan(s), Window Unit(s), Wall Unit(s)
Amenities
ceiling fans
security cameras
fenced
rooftop
high-speed internet
basic cable TV
Building Details
Year built
1945
Number of units
4
Building materials
Brick, Aluminum Siding
Listing Agency:
Houwzer, LLC
(202) 866-8787
Listed By:
Pamela Debnam · License #SP200200774
(252) 903-3616
Added: Apr 14
Changed: Sep 13
Last Checked: Sep 13 at 2:06PM
MLS# DCDC2255740
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 4,200-square-foot apartment property contains eight licensed units: four apartments and four rooming-house rooms. The layout includes 14 bedrooms and five baths, with two two-bedroom apartments, two three-bedroom apartments, and four single rooms. Interior features include eat-in kitchens, combination dining and living areas, ceramic tile in kitchens and baths, window air-conditioning units, ceiling fans, baseboard heating, and gas cooking. The rooming-house section has separate rear access, individual refrigerators, and utilities that include high-speed internet and basic cable TV.
Built in 1945, the brick and aluminum-sided property sits on 0.1068 acres and is enclosed by fencing. Recent work includes upgraded hallway carpeting and painting at the front and rear. Security cameras with 1TB storage and time-controlled exterior lighting are installed. The property is located on Gainesville Street SE in Washington, DC, one block from the 7th District Police Station and a Metro bus stop. Three Metro Rail stops are within 10 minutes, while Skyland Shopping Center and Good Hope Safeway are a three-block walk away.
Built in 1945, the brick and aluminum-sided property sits on 0.1068 acres and is enclosed by fencing. Recent work includes upgraded hallway carpeting and painting at the front and rear. Security cameras with 1TB storage and time-controlled exterior lighting are installed. The property is located on Gainesville Street SE in Washington, DC, one block from the 7th District Police Station and a Metro bus stop. Three Metro Rail stops are within 10 minutes, while Skyland Shopping Center and Good Hope Safeway are a three-block walk away.
Key Highlights
- Eight licensed units: 4 apartments and 4 rooming‑house rooms
- 14 bedrooms and 5 baths, including 2 two‑bedroom apartments and 2 three‑bedroom apartments
- 4,200 square feet on 0.1068 acres; built in 1945
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
$66,303
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
6.63%
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%
$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
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
$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 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%
$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 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,793 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Licensed apartments and rooming-house rooms offer separate configurations with individually managed utilities in the apartments.
Where is this apartment building located?
The property is located at 2809 GAINESVILLE Street SE Washington, DC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Eight licensed units: 4 apartments and 4 rooming‑house rooms; 14 bedrooms and 5 baths, including 2 two‑bedroom apartments and 2 three‑bedroom apartments; 4,200 square feet on 0.1068 acres; built in 1945
