Studio Residential Income
For Sale
$185,000
5500 FRIENDSHIP BOULEVARD Unit 1218N, Chevy Chase, MD 20815
A studio layout combines a breakfast bar, large windows, and a walk-in closet with extensive building amenities.
Property Size511 SF
Price / SF$362.04
Days on Market83
Property Features for 5500 FRIENDSHIP BOULEVARD Unit 1218N
General Information
Standard status
Active
Size
511 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,654
Amenities
rooftop swimming pool
expansive sun deck
fully euipped fitnes center
24-hour concierge service
seured building entry
in-building mini-market
Alfio's Italian Restautrant
complimentary shuttle service
Building Details
Building Size
511 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 3:18PM
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 511-square-foot studio, built in 1968, has fresh paint, a new electrical panel, and large windows. The kitchen opens toward the living area at a breakfast bar, while the flexible main room accommodates both living and sleeping functions. A walk-in closet connects directly to the bathroom. The condo fee covers gas, electricity, and water.
Building amenities include a rooftop pool and sun deck, fitness center, 24-hour concierge, secured entry, mini-market, Italian restaurant, and shuttle service. The property is in Friendship Heights, near the Friendship Heights Metro, Whole Foods, Wisconsin Place shops, and other named dining and retail destinations.
Building amenities include a rooftop pool and sun deck, fitness center, 24-hour concierge, secured entry, mini-market, Italian restaurant, and shuttle service. The property is in Friendship Heights, near the Friendship Heights Metro, Whole Foods, Wisconsin Place shops, and other named dining and retail destinations.
Key Highlights
- 511‑square‑foot studio residence
- Built in 1968; recently painted and fitted with a new electrical panel
- Large windows, breakfast bar, and flexible living and sleeping area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,437
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$168,740
$168.7K
Cap Rate 7%
$120,529
$120.5K
Cap Rate 9%
$93,744
$93.7K
Market Conditions
NOI Build-Up for 511 SF
Gross rent
$16.5K $32.28/SF
− Vacancy
−$1.2K −$2.26/SF
EGI
$15.3K $30.02/SF
− OpEx
−$6.9K −$13.51/SF
NOI
$8.4K $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%
$168,740
Cap Rate 7%
$120,529
Cap Rate 9%
$93,744
Alternative Uses
Best Use
Apartment 5plus
$120.5K
$105.5K – $140.6K
NOI $8,437 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$179.8K
$157.3K – $209.7K
NOI $12,583 @ 7.0% cap · market cap 6.80%
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 - A studio layout combines a breakfast bar, large windows, and a walk-in closet with extensive building amenities.
Where is this residential income property located?
The property is located at 5500 FRIENDSHIP BOULEVARD Unit 1218N Chevy Chase, MD.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 511‑square‑foot studio residence; Built in 1968; recently painted and fitted with a new electrical panel; Large windows, breakfast bar, and flexible living and sleeping area
