Renovated Residential Income
For Sale
$835,000
Pending
4601 N PARK AVENUE Unit 614P, Chevy Chase, MD 20815
Combined condominium residence with three bedroom wings, extensive storage, private outdoor spaces, and custom architectural finishes.
Property Size2,203 SF
Days on Market49
Property Features for 4601 N PARK AVENUE Unit 614P
General Information
Standard status
Pending
Size
2,203 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,739
Amenities
24-hour concierge service
indoor swimming pool
fitness center
Building Details
Building Size
2,203 SF
Year Built
1975
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Francis Hill Slowinski · License #601636
(301) 452-1409
Source:
Kerishull
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 28 at 2:03PM
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 Long & Foster Real Estate, Inc.
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Investment Insights
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This combined condominium residence at The Elizabeth offers approximately 2,203 square feet with three bedrooms and three full baths. The extensively renovated interior includes hardwood floors, custom built-ins, recessed and specialty lighting, multiple living and sitting areas, a library, dining space, and two private outdoor spaces. The architect-designed kitchen features custom cabinetry, extensive counters, a new Bosch refrigerator and dishwasher, and a 36-inch KitchenAid electric cooktop and oven.
The primary suite occupies a separate wing with a den or sitting room, built-in cabinetry, two walk-in closets, and an ensuite bath with a double vanity, walk-in shower, and new Kohler walk-in jetted tub. Additional features include a second ensuite bedroom, a third full bath, multiple walk-in storage closets, built-in bookcases, and two assigned underground parking spaces.
The Elizabeth provides 24-hour concierge service, an indoor swimming pool, fitness center, on-site businesses and services, and recently renovated common areas. The condominium fee includes all utilities except internet. The property is located near Friendship Heights Metro, Whole Foods Market, the Village of Friendship Heights community center and farmers market, shopping, dining, and neighborhood conveniences.
The primary suite occupies a separate wing with a den or sitting room, built-in cabinetry, two walk-in closets, and an ensuite bath with a double vanity, walk-in shower, and new Kohler walk-in jetted tub. Additional features include a second ensuite bedroom, a third full bath, multiple walk-in storage closets, built-in bookcases, and two assigned underground parking spaces.
The Elizabeth provides 24-hour concierge service, an indoor swimming pool, fitness center, on-site businesses and services, and recently renovated common areas. The condominium fee includes all utilities except internet. The property is located near Friendship Heights Metro, Whole Foods Market, the Village of Friendship Heights community center and farmers market, shopping, dining, and neighborhood conveniences.
Key Highlights
- Approximately 2,203‑square‑foot residence with 3 bedrooms and 3 full baths
- Two residences combined and extensively renovated
- Two assigned underground parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,374
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$727,480
$727.5K
Cap Rate 7%
$519,629
$519.6K
Cap Rate 9%
$404,156
$404.2K
Market Conditions
NOI Build-Up for 2,203 SF
Gross rent
$71.1K $32.28/SF
− Vacancy
−$5.0K −$2.26/SF
EGI
$66.1K $30.02/SF
− OpEx
−$29.8K −$13.51/SF
NOI
$36.4K $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%
$727,480
Cap Rate 7%
$519,629
Cap Rate 9%
$404,156
Alternative Uses
Best Use
Apartment 5plus
$519.6K
$454.7K – $606.2K
NOI $36,374 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$775.0K
$678.1K – $904.1K
NOI $54,247 @ 7.0% cap · market cap 6.50%
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 - Combined condominium residence with three bedroom wings, extensive storage, private outdoor spaces, and custom architectural finishes.
Where is this residential income property located?
The property is located at 4601 N PARK AVENUE Unit 614P Chevy Chase, MD.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Approximately 2,203‑square‑foot residence with 3 bedrooms and 3 full baths; Two residences combined and extensively renovated; Two assigned underground parking spaces
