Renovated Studio Residential
For Sale
$199,000
5500 FRIENDSHIP BOULEVARD Unit 1121N, Chevy Chase, MD 20815
An updated kitchen and full-service building amenities support convenient, low-maintenance living.
Property Size456 SF
Price / SF$436.40
Days on Market84
Property Features for 5500 FRIENDSHIP BOULEVARD Unit 1121N
General Information
Standard status
Active
Size
456 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,296
Amenities
rooftop swimming pool
sun deck
fitness center
24-hour concierge service
secured building entry
mini-market
Alfio's Italian Restaurant
shuttle service
Building Details
Building Size
456 SF
Year Built
1968
Listing Agency:
EXP Realty, LLC
Listed By:
Neil W Bacchus · License #312336
(301) 674-8090
Source:
Jackrealtygroup
Added: Aug 7
Changed: Oct 27
Last Checked: Oct 26 at 2:35PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This 456-square-foot studio residence was built in 1968 and has been updated with luxury vinyl plank flooring, fresh paint, revised lighting, and a new electrical panel. The kitchen has been opened to the living and dining area and includes white cabinetry, a stainless steel refrigerator, a vent hood, and updated countertops. The bathroom has modern fixtures, and an oversized closet connects directly to it. The living area can accommodate both sleeping and lounge functions.
The property is in Friendship Heights, near the Friendship Heights Metro, Whole Foods, Wisconsin Place shops, and other named retailers and restaurants. Building features include a rooftop pool and sun deck, fitness center, 24-hour concierge, secured entry, mini-market, and an Italian restaurant. A complimentary shuttle serves the Metro, shopping, and nearby destinations. Gas, electricity, and water are included in the condo fee.
The property is in Friendship Heights, near the Friendship Heights Metro, Whole Foods, Wisconsin Place shops, and other named retailers and restaurants. Building features include a rooftop pool and sun deck, fitness center, 24-hour concierge, secured entry, mini-market, and an Italian restaurant. A complimentary shuttle serves the Metro, shopping, and nearby destinations. Gas, electricity, and water are included in the condo fee.
Key Highlights
- 456‑square‑foot studio residence with an open kitchen and living area
- New electrical panel, luxury vinyl plank flooring, updated lighting, and fresh paint
- Oversized closet connected directly to the updated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,529
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$150,580
$150.6K
Cap Rate 7%
$107,557
$107.6K
Cap Rate 9%
$83,656
$83.7K
Market Conditions
NOI Build-Up for 456 SF
Gross rent
$14.7K $32.28/SF
− Vacancy
−$1.0K −$2.26/SF
EGI
$13.7K $30.02/SF
− OpEx
−$6.2K −$13.51/SF
NOI
$7.5K $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%
$150,580
Cap Rate 7%
$107,557
Cap Rate 9%
$83,656
Alternative Uses
Best Use
Apartment 5plus
$107.6K
$94.1K – $125.5K
NOI $7,529 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$160.4K
$140.4K – $187.2K
NOI $11,229 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,155
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 - An updated kitchen and full-service building amenities support convenient, low-maintenance living.
Where is this residential income property located?
The property is located at 5500 FRIENDSHIP BOULEVARD Unit 1121N Chevy Chase, MD.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 456‑square‑foot studio residence with an open kitchen and living area; New electrical panel, luxury vinyl plank flooring, updated lighting, and fresh paint; Oversized closet connected directly to the updated bathroom
