Residential Income Property with
For Sale
$629,000
4515 WILLARD AVENUE Unit 1403S, Chevy Chase, MD 20815
Two adjacent parking spaces and access to building amenities support convenient residential use.
Property Size1,653 SF
Price / SF$380.52
Days on Market49
Property Features for 4515 WILLARD AVENUE Unit 1403S
General Information
Standard status
Active
Size
1,653 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,801
Amenities
rooftop pool
sundeck
fitness center
restaurant
library/reading room with Wi-Fi
convenience store
24-hour desk attendants
complimentary shuttle service
laundry rooms
balcony
Building Details
Building Size
1,653 SF
Year Built
1968
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: Sep 10
Changed: Oct 26
Last Checked: Oct 26 at 1:43PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This 1,653-square-foot residence at The Willoughby was built in 1968 and includes an open kitchen with white cabinetry and appliances, a separate dining room, and a balcony. Updates include a new electrical panel, new convectors in the living room, dining room, and first bedroom, plus a glass shower stall and marble-top vanity in the primary bathroom. Parquet flooring serves the living and dining rooms, with carpet in the bedrooms and hallway.
Two parking spaces sit beside each other on G-2, with access to all three elevators. Building amenities include a rooftop pool, year-round sundeck, fitness center, restaurant, library and reading room with Wi-Fi, convenience store, 24-hour desk attendants, complimentary shuttle service, and laundry rooms on each floor. Whole Foods, Friendship Heights Metro, shops, and dining are nearby in Chevy Chase.
Two parking spaces sit beside each other on G-2, with access to all three elevators. Building amenities include a rooftop pool, year-round sundeck, fitness center, restaurant, library and reading room with Wi-Fi, convenience store, 24-hour desk attendants, complimentary shuttle service, and laundry rooms on each floor. Whole Foods, Friendship Heights Metro, shops, and dining are nearby in Chevy Chase.
Key Highlights
- 1,653‑square‑foot residence at The Willoughby, built in 1968
- Two adjacent parking spaces on G‑2 with access to all three elevators
- Updated kitchen, new electrical panel, and new convectors in three rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,293
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,860
$545.9K
Cap Rate 7%
$389,900
$389.9K
Cap Rate 9%
$303,256
$303.3K
Market Conditions
NOI Build-Up for 1,653 SF
Gross rent
$53.4K $32.28/SF
− Vacancy
−$3.7K −$2.26/SF
EGI
$49.6K $30.02/SF
− OpEx
−$22.3K −$13.51/SF
NOI
$27.3K $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%
$545,860
Cap Rate 7%
$389,900
Cap Rate 9%
$303,256
Alternative Uses
Best Use
Apartment 5plus
$389.9K
$341.2K – $454.9K
NOI $27,293 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$581.5K
$508.8K – $678.4K
NOI $40,704 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,155
Businesses Nearby
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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 - Two adjacent parking spaces and access to building amenities support convenient residential use.
Where is this residential income property located?
The property is located at 4515 WILLARD AVENUE Unit 1403S Chevy Chase, MD.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 1,653‑square‑foot residence at The Willoughby, built in 1968; Two adjacent parking spaces on G‑2 with access to all three elevators; Updated kitchen, new electrical panel, and new convectors in three rooms
