Two-Bedroom Residential Income
For Sale
$299,000
Pending
4601 N PARK AVENUE Unit 214P, Chevy Chase, MD 20815
The unit has assigned tandem parking, an in-unit washer/dryer, and access to an indoor pool.
Property Size1,282 SF
Days on Market25
Property Features for 4601 N PARK AVENUE Unit 214P
General Information
Standard status
Pending
Size
1,282 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$5,999
Amenities
24 hour front desk
indoor pool
pet friendly building
in-unit washer/dryer
Building Details
Building Size
1,282 SF
Year Built
1975
Listing Agency:
Compass
Listed By:
Sam N. Solovey · License #620903
(301) 404-3280
Source:
Paulwesley
Added: Oct 5
Changed: Oct 27
Last Checked: Oct 26 at 3:15PM
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 1,282-square-foot condominium offers two bedrooms and two full bathrooms. Updates include new flooring, fresh paint, a renovated kitchen, and remodeled baths. The unit also has remote-operated bedroom blinds, generous closet storage, and a primary suite with windows facing two directions. Assigned tandem parking accommodates two cars, and laundry is available inside the unit. The residence was built in 1975 and has no balcony.
The building provides a 24-hour front desk, an indoor pool, and pet-friendly accommodations. Shared areas have been renovated, and utilities are included in the monthly condominium fee. The unit is on the second floor, with convenient access into and out of the building.
The building provides a 24-hour front desk, an indoor pool, and pet-friendly accommodations. Shared areas have been renovated, and utilities are included in the monthly condominium fee. The unit is on the second floor, with convenient access into and out of the building.
Key Highlights
- Two bedrooms and two full bathrooms in 1,282 square feet
- New flooring, fresh paint, renovated kitchen, and updated bathrooms
- Assigned tandem parking for 2 cars near the elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,167
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,340
$423.3K
Cap Rate 7%
$302,386
$302.4K
Cap Rate 9%
$235,189
$235.2K
Market Conditions
NOI Build-Up for 1,282 SF
Gross rent
$41.4K $32.28/SF
− Vacancy
−$2.9K −$2.26/SF
EGI
$38.5K $30.02/SF
− OpEx
−$17.3K −$13.51/SF
NOI
$21.2K $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%
$423,340
Cap Rate 7%
$302,386
Cap Rate 9%
$235,189
Alternative Uses
Best Use
Apartment 5plus
$302.4K
$264.6K – $352.8K
NOI $21,167 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$451.0K
$394.6K – $526.1K
NOI $31,568 @ 7.0% cap · market cap 10.56%
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
3,695
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 - The unit has assigned tandem parking, an in-unit washer/dryer, and access to an indoor pool.
Where is this residential income property located?
The property is located at 4601 N PARK AVENUE Unit 214P Chevy Chase, MD.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms in 1,282 square feet; New flooring, fresh paint, renovated kitchen, and updated bathrooms; Assigned tandem parking for 2 cars near the elevator
