Approved 12-Unit Multifamily Development
For Sale
$849,900
2823 Gainesville Street Southeast, Washington, DC 20020
Fully approved and permitted site for development of a 12-unit multifamily building.
Property SizeContact for details
Days on Market347
Property Features for 2823 Gainesville Street Southeast
General Information
Standard status
Active
Property subtype
Land / Fee Simple
Zoning
RA-1
Additional Details
Cap Rate
6.5%
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$4,403
Listing Agency:
TTR Sotheby's International Realty
(202) 379-5868
Listed By:
Michael A Hines · License #SP98365254
Source:
Compass
Added: Sep 9, 2025
Changed: Aug 8
Last Checked: Mar 25 at 11:44AM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
This is a fully approved and permitted development site for a 12-unit building. Listing materials include current comp set information and pro forma scenarios prepared for the project, along with pre-con estimates and a list of general contractors familiar with the plans and the site.
The property is located in Washington County and is not in city limits. The school district is identified as the District of Columbia Public Schools.
For underwriting reference, the provided pro forma includes both a market-rate scenario and a Housing Choice Voucher execution scenario, each shown at a 6.5% cap rate.
The property is located in Washington County and is not in city limits. The school district is identified as the District of Columbia Public Schools.
For underwriting reference, the provided pro forma includes both a market-rate scenario and a Housing Choice Voucher execution scenario, each shown at a 6.5% cap rate.
Key Highlights
- Fully approved and permitted site for a 12‑unit multifamily building
- Pro forma provided for market‑rate scenario: $4.4M value at a 6.5% cap rate
- Pro forma provided for Housing Choice Voucher scenario: $4.6M value at a 6.5% cap rate
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Fully approved and permitted site for development of a 12-unit multifamily building.
Where is this residential land & home lot located?
The property is located at 2823 Gainesville Street Southeast Washington, DC.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Fully approved and permitted site for a 12‑unit multifamily building; Pro forma provided for market‑rate scenario: $4.4M value at a 6.5% cap rate; Pro forma provided for Housing Choice Voucher scenario: $4.6M value at a 6.5% cap rate
