Residential Income Property with
New
For Sale
$629,900
4620 N PARK AVENUE N Unit 701W, Chevy Chase, MD 20815
Renovated condominium residence with private outdoor space, split-bedroom privacy, and full-service building amenities.
Property Size1,308 SF
Price / SF$481.57
Days on Market5
Property Features for 4620 N PARK AVENUE N Unit 701W
General Information
Standard status
Active
Size
1,308 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Parking per Unit
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,120
Amenities
outdoor swimming pool
fitness center
party room
library
professional on-site management
attentive building maintenance
additional secured storage
Building Details
Building Size
1,308 SF
Year Built
1973
Listing Agency:
Compass
(301) 351-7200
Listed By:
Mark Goldberg · License #67318
(301) 351-7200
Source:
Barnesrealestatecompany
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 9:58PM
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
Investment Insights
Based on property information with market context.
Built in 1973, this 1,308-square-foot condominium residence presents a two-bedroom, two-bath layout with renovated bathrooms and an open arrangement for living and dining. The kitchen includes granite counters, stainless steel appliances, a gas range, pantry, and French-door refrigerator. A built-in alcove can serve as an office, den, or reading area, while the private balcony faces an adjacent park. The split-bedroom design includes a separate guest suite with double-door entry, full bath, and dedicated laundry room. The primary suite offers built-in storage and a fitted walk-in closet.
Additional features include wood flooring, a laundry room with utility sink, newer washer and gas dryer, new dual-zone HVAC systems, secured storage, and two 24/7 secured garage parking spaces. Building amenities include an outdoor pool, fitness center, party room, library, on-site management, and building maintenance. The residence is located near the Friendship Heights Metro Red Line, Whole Foods, Trader Joe's, Wisconsin Place, Chevy Chase Pavilion, neighborhood retail, restaurants, cafes, banks, and daily services.
Additional features include wood flooring, a laundry room with utility sink, newer washer and gas dryer, new dual-zone HVAC systems, secured storage, and two 24/7 secured garage parking spaces. Building amenities include an outdoor pool, fitness center, party room, library, on-site management, and building maintenance. The residence is located near the Friendship Heights Metro Red Line, Whole Foods, Trader Joe's, Wisconsin Place, Chevy Chase Pavilion, neighborhood retail, restaurants, cafes, banks, and daily services.
Key Highlights
- 1,308‑square‑foot residence with 2 bedrooms and 2 renovated baths
- Private balcony overlooking an adjacent park
- Two 24/7 secured garage parking spaces plus additional secured storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,597
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$431,940
$431.9K
Cap Rate 7%
$308,529
$308.5K
Cap Rate 9%
$239,967
$240.0K
Market Conditions
NOI Build-Up for 1,308 SF
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.
Gross rent
$42.2K $32.28/SF
− Vacancy
−$3.0K −$2.26/SF
EGI
$39.3K $30.02/SF
− OpEx
−$17.7K −$13.51/SF
NOI
$21.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$431,940
Cap Rate 7%
$308,529
Cap Rate 9%
$239,967
Alternative Uses
Best Use
Apartment 5plus
$308.5K
$270.0K – $360.0K
NOI $21,597 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$460.1K
$402.6K – $536.8K
NOI $32,209 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,259
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated condominium residence with private outdoor space, split-bedroom privacy, and full-service building amenities.
Where is this residential income property located?
The property is located at 4620 N PARK AVENUE N Unit 701W Chevy Chase, MD.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 1,308‑square‑foot residence with 2 bedrooms and 2 renovated baths; Private balcony overlooking an adjacent park; Two 24/7 secured garage parking spaces plus additional secured storage
