Three-Bedroom Residential Income
For Sale
$254,000
3355 UNIVERSITY BOULEVARD W Unit 2, Kensington, MD 20895
The first-level condominium has an updated kitchen, in-unit living and dining space, and a reserved parking space.
Property Size1,220 SF
Price / SF$208.20
Days on Market212
Property Features for 3355 UNIVERSITY BOULEVARD W Unit 2
General Information
Standard status
Active
Size
1,220 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,609
Amenities
secure building access
video monitoring
shared laundry room
storage area
guest parking
Building Details
Building Size
1,220 SF
Year Built
1964
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Mar 31
Changed: Oct 27
Last Checked: Oct 26 at 2:49PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This first-level condominium offers three bedrooms, one and a half bathrooms, and 1,220 square feet of living space. The living and dining areas share an open layout, with built-in features and LVP flooring. The renovated kitchen includes granite countertops, a gas range, and ample cabinetry; bathrooms have also been updated. Gas heat and central air conditioning serve the unit, which has generous closet space and a separate storage area. A reserved parking space is located outside the unit, and the building provides secure access with video monitoring, shared laundry across the hall, and guest parking.
The property is in Kensington, near parks, restaurants, a farmers market, boutiques, and Antique Row. The MARC train, Metro, Beltway, and commuter routes are among the transportation options identified nearby. Westfield Wheaton and grocery stores are also in the surrounding area. The building has no pet restrictions.
The property is in Kensington, near parks, restaurants, a farmers market, boutiques, and Antique Row. The MARC train, Metro, Beltway, and commuter routes are among the transportation options identified nearby. Westfield Wheaton and grocery stores are also in the surrounding area. The building has no pet restrictions.
Key Highlights
- Three bedrooms and 1.5 bathrooms in 1,220 square feet
- First‑level unit with stair‑free access
- Renovated kitchen with granite countertops and gas range
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,144
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,880
$402.9K
Cap Rate 7%
$287,771
$287.8K
Cap Rate 9%
$223,822
$223.8K
Market Conditions
NOI Build-Up for 1,220 SF
Gross rent
$39.4K $32.28/SF
− Vacancy
−$2.8K −$2.26/SF
EGI
$36.6K $30.02/SF
− OpEx
−$16.5K −$13.51/SF
NOI
$20.1K $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 Rate 5%
$402,880
Cap Rate 7%
$287,771
Cap Rate 9%
$223,822
Alternative Uses
Best Use
Apartment 5plus
$287.8K
$251.8K – $335.7K
NOI $20,144 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$429.2K
$375.5K – $500.7K
NOI $30,042 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 20895, MD
19,753
Population
7,316
Households
2.7
Avg Household Size
42
Median Age
74%
College-Educated
97%
High-School Grad
4.1 sq mi
ZIP Area
4,818
Density / Sq Mi
$169,527
Median Household Income
$88,513
Median Earnings
$2,075
Median Rent
$744,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The first-level condominium has an updated kitchen, in-unit living and dining space, and a reserved parking space.
Where is this residential income property located?
The property is located at 3355 UNIVERSITY BOULEVARD W Unit 2 Kensington, MD.
What is the asking price?
The asking price for this property is $254,000.
What are key features of this property?
This property features: Three bedrooms and 1.5 bathrooms in 1,220 square feet; First‑level unit with stair‑free access; Renovated kitchen with granite countertops and gas range
