Building Details

Year Built 1939

Year Renovated 2025

Buildings 1

Units 3

Tenancy Multi

Listing Agency: Perennial DMV

Listed By: Marci Wasserman · License #SP98377021

Source: Crexi

Added: Jun 2 Changed: Sep 8 Last Checked: Oct 5 at 6:10PM

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Investment Insights

Based on property information with market context.

This solid brick colonial has been newly renovated and is configured as three independent apartments. The main and upper-level units each feature two bedrooms and one full bath, with freshly painted interiors, new luxury vinyl plank flooring, recessed lighting with updated fixtures, and quartz kitchens. Each of these units also includes stainless steel appliances, combo washer/dryer units, fireplaces, and updated bathrooms, along with a bright living room and a separate dining room.

The lower level offers a one-bedroom, one-bath apartment with a private entrance. It includes new flooring, a granite eat-in kitchen, a spacious storage room with a separate washer and dryer, and access to a private patio. All three units are separately metered for gas and electricity, supporting independent living and leasing arrangements. A detached three-bay garage provides parking and storage, with one bay designated for each unit.

For owners seeking on-site living with rental income, this layout provides practical flexibility: occupy one unit while leasing the others. For investors, the separate metering and independent apartment configuration can simplify tenant management and reduce utility commingling. The property’s multi-family zoning supports its use as a residential income asset, with updated finishes throughout designed to support strong day-to-day livability for tenants.

Key Highlights

• Newly renovated 3‑unit multi‑family property in Takoma Park with flexible live‑in or lease‑each setup.
• Three independent apartments: two units with 2 bedrooms and 1 full bath, plus a lower‑level 1‑bedroom, 1‑bath unit.
• Updated finishes in each unit including new flooring, recessed lighting with updated fixtures, quartz kitchens, and stainless steel appliances.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,463

Cap Rate

5.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,029,260 $1.0M

Cap Rate 7%

$735,186 $735.2K

Cap Rate 9%

$571,811 $571.8K

Market Conditions

NOI Build-Up for 2,712 SF

Gross rent

$78.8K $29.04/SF

− Vacancy

−$5.2K −$1.93/SF

EGI

$73.5K $27.11/SF

− OpEx

−$22.1K −$8.13/SF

NOI

$51.5K $18.98/SF

Area

Montgomery County, MD

Vacancy

6.65%

Lease Rate

$29.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,029,260

Cap Rate 7%

$735,186

Cap Rate 9%

$571,811

Alternative Uses

Best Use

Multifamily LT 5

$735.2K

$643.3K – $857.7K (±1% cap)

NOI $51,463 @ 7.0% cap · market cap 5.41%

Second Best

Apartment 5plus

$639.7K

$559.7K – $746.3K (±1% cap)

NOI $44,778 @ 7.0% cap · market cap 4.70%

Theoretical Best

Specialty Retail

$954.0K

$834.8K – $1.11M (±1% cap)

NOI $66,781 @ 7.0% cap · market cap 7.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Building Supply Law Firm Nail Salon Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

874

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Newly renovated three-unit residential income property with separate entrances, utilities, and attached three-bay garage parking.

Where is this triplex located?

The property is located at 8511 Flower Avenue Takoma Park, MD.

What is the asking price?

The asking price for this property is $952,000.

What are key features of this property?

This property features: Newly renovated 3‑unit multi‑family property in Takoma Park with flexible live‑in or lease‑each setup.; Three independent apartments: two units with 2 bedrooms and 1 full bath, plus a lower‑level 1‑bedroom, 1‑bath unit.; Updated finishes in each unit including new flooring, recessed lighting with updated fixtures, quartz kitchens, and stainless steel appliances.