Residential Income Property with
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 Market49
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
Listed By:
Mark Goldberg · License #67318
(301) 351-7200
Source:
Barnesrealestatecompany
Added: Aug 28
Changed: Oct 3
Last Checked: Oct 15 at 6:18AM
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.
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 / Yr
$21,597
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,259
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 - 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
