Top-Floor Corner Penthouse
For Sale
$699,000
4601 N PARK AVENUE Unit 1818T, Chevy Chase, MD 20815
Top-floor corner penthouse with 1,239 SF, updated kitchen and renovated baths, plus a private balcony and four garage parking spaces.
Property Size1,239 SF
Price / SF$564.16
Days on Market32
Property Features for 4601 N PARK AVENUE Unit 1818T
General Information
Standard status
Active
Size
1,239 SF
Total Parking Spaces
4
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
staffed front desk
indoor swimming pool
fitness center
sauna
resident gathering spaces
professional management
private balcony
Building Details
Building Size
1,239 SF
Year Built
1975
Listing Agency:
Realty ONE Group Capital
(703) 522-6444
Listed By:
John J Akhavan · License #641050
(703) 522-6444
Source:
Barnesrealestatecompany
Added: Jun 29
Changed: Jul 30
Last Checked: Jul 30 at 4:59PM
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 Realty ONE Group Capital
Investment Insights
Based on property information with market context.
Residence 1818 is a top-floor corner penthouse at The Elizabeth, a full-service luxury condominium building. The home features 1,239 square feet of updated living space with hardwood flooring flowing through the main areas. The renovated kitchen includes premium cabinetry, stone countertops, and upgraded appliances, and the bathrooms have been renovated as well. With multiple exposures bringing in natural light, the thoughtfully designed layout emphasizes open feel and flexibility, with spacious living and dining areas and a private balcony for outdoor downtime.
The primary suite offers a quiet retreat, while the second bedroom can serve guests, family, or a home office. The residence also conveys with four garage parking spaces arranged in two tandem configurations.
Built in 1975, The Elizabeth provides a staffed front desk and a range of resident amenities, including an indoor swimming pool, fitness center, sauna, resident gathering spaces, and professional management.
The primary suite offers a quiet retreat, while the second bedroom can serve guests, family, or a home office. The residence also conveys with four garage parking spaces arranged in two tandem configurations.
Built in 1975, The Elizabeth provides a staffed front desk and a range of resident amenities, including an indoor swimming pool, fitness center, sauna, resident gathering spaces, and professional management.
Key Highlights
- 1,239 SF top‑floor corner penthouse at The Elizabeth
- Updated kitchen with premium cabinetry, stone countertops, and upgraded appliances
- Renovated bathrooms and hardwood flooring throughout
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.0k | $32.28 |
| − Vacancy | −$2.8k | −$2.26 |
| EGI | $37.2k | $30.02 |
| − OpEx | −$16.7k | −$13.51 |
| NOI | $20.5k | $16.51 |
1,239 SF · lease $32.28/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$292.2K
$255.7K – $341.0K
NOI $20,457 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$435.9K
$381.4K – $508.5K
NOI $30,510 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,695
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
Market
Properties on Market for Residential income properties in Montgomery County
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor corner penthouse with 1,239 SF, updated kitchen and renovated baths, plus a private balcony and four garage parking spaces.
Where is this residential income property located?
The property is located at 4601 N PARK AVENUE Unit 1818T Chevy Chase, MD.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,239 SF top‑floor corner penthouse at The Elizabeth; Updated kitchen with premium cabinetry, stone countertops, and upgraded appliances; Renovated bathrooms and hardwood flooring throughout
