1-Bedroom Residential Income
For Sale
$314,800
3535 CHEVY CHASE LAKE DRIVE Unit 108, Chevy Chase, MD 20815
Ground-level living space includes updated interiors, a private patio, and direct access to the rear parking lot.
Property Size759 SF
Price / SF$414.76
Days on Market84
Property Features for 3535 CHEVY CHASE LAKE DRIVE Unit 108
General Information
Standard status
Active
Size
759 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,274
Amenities
elevator
bike storage
on-site laundry
Building Details
Building Size
759 SF
Year Built
1960
Listing Agency:
Compass
Listed By:
Brett Alan Rubin · License #677926
(301) 602-2848
Source:
Jackrealtygroup
Added: Aug 6
Changed: Oct 26
Last Checked: Oct 26 at 10:32AM
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 Compass
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Investment Insights
Based on property information with market context.
This 759-square-foot, one-bedroom, one-bathroom condo is on the ground level of a 1960 building. Luxury vinyl plank flooring runs throughout, and the renovated kitchen features granite countertops, stainless steel appliances, and ample cabinetry. The living area connects to a private patio with access to the rear parking lot. Building amenities include an elevator, bike storage, open parking, and an on-site laundry room with community bookshelves. Utilities are covered by the monthly condo fee, and pets are welcome.
The property is near Amazon Fresh, Starbucks, Einstein Bros. Bagels, shopping, and dining. Rock Creek Park offers nearby trails and green space. I-495 provides commuter access to Bethesda and downtown Washington, DC; the future Purple Line extension is also noted in the property information.
The property is near Amazon Fresh, Starbucks, Einstein Bros. Bagels, shopping, and dining. Rock Creek Park offers nearby trails and green space. I-495 provides commuter access to Bethesda and downtown Washington, DC; the future Purple Line extension is also noted in the property information.
Key Highlights
- 759‑square‑foot condo with 1 bedroom and 1 bathroom
- Ground‑level unit with a private patio and direct access to the rear parking lot
- Renovated kitchen with granite countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,532
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,640
$250.6K
Cap Rate 7%
$179,029
$179.0K
Cap Rate 9%
$139,244
$139.2K
Market Conditions
NOI Build-Up for 759 SF
Gross rent
$24.5K $32.28/SF
− Vacancy
−$1.7K −$2.26/SF
EGI
$22.8K $30.02/SF
− OpEx
−$10.3K −$13.51/SF
NOI
$12.5K $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%
$250,640
Cap Rate 7%
$179,029
Cap Rate 9%
$139,244
Alternative Uses
Best Use
Apartment 5plus
$179.0K
$156.7K – $208.9K
NOI $12,532 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$267.0K
$233.6K – $311.5K
NOI $18,690 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 20815, MD
31,517
Population
14,192
Households
2.2
Avg Household Size
46
Median Age
85%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,836
Density / Sq Mi
$198,243
Median Household Income
$106,711
Median Earnings
$2,408
Median Rent
$1,230,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level living space includes updated interiors, a private patio, and direct access to the rear parking lot.
Where is this residential income property located?
The property is located at 3535 CHEVY CHASE LAKE DRIVE Unit 108 Chevy Chase, MD.
What is the asking price?
The asking price for this property is $314,800.
What are key features of this property?
This property features: 759‑square‑foot condo with 1 bedroom and 1 bathroom; Ground‑level unit with a private patio and direct access to the rear parking lot; Renovated kitchen with granite countertops and stainless steel appliances
