High-Rise Condominium
For Sale
$449,000
5500 FRIENDSHIP BOULEVARD Unit 1823N, Chevy Chase, MD 20815
Corner unit with a private balcony, separate family room, and full-service building amenities.
Property Size1,292 SF
Price / SF$347.52
Days on Market192
Property Features for 5500 FRIENDSHIP BOULEVARD Unit 1823N
General Information
Standard status
Active
Size
1,292 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,929
Amenities
24/7 concierge
rooftop pool and sun deck
fitness center
on-site market
Alfio's Italian Restaurant
Building Details
Building Size
1,292 SF
Year Built
1968
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: Apr 23
Changed: Oct 27
Last Checked: Oct 26 at 11:41AM
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
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Investment Insights
Based on property information with market context.
This 1,292-square-foot corner condominium occupies the 18th floor of a building constructed in 1968. The residence has two bedrooms, a separate family room with a walk-in closet, and a private balcony with wood-deck tiling. Hardwood floors run through the home, while the kitchen includes granite counters, built-in seating, marble flooring, stainless steel appliances, and under-cabinet lighting. The primary suite has two closets and an en-suite bath; a renovated hall bath serves the second bedroom.
Building amenities include a 24-hour concierge, rooftop pool and sun deck, fitness center, on-site market, and Italian restaurant. The property is at 5500 Friendship Boulevard in Chevy Chase, with the Friendship Heights Metro, Whole Foods, shopping, dining, and a Saturday farmers market nearby.
Building amenities include a 24-hour concierge, rooftop pool and sun deck, fitness center, on-site market, and Italian restaurant. The property is at 5500 Friendship Boulevard in Chevy Chase, with the Friendship Heights Metro, Whole Foods, shopping, dining, and a Saturday farmers market nearby.
Key Highlights
- 1,292‑square‑foot corner residence on the 18th floor
- Private balcony finished with wood‑deck tiling
- Separate family room with a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,332
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$426,640
$426.6K
Cap Rate 7%
$304,743
$304.7K
Cap Rate 9%
$237,022
$237.0K
Market Conditions
NOI Build-Up for 1,292 SF
Gross rent
$41.7K $32.28/SF
− Vacancy
−$2.9K −$2.26/SF
EGI
$38.8K $30.02/SF
− OpEx
−$17.5K −$13.51/SF
NOI
$21.3K $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%
$426,640
Cap Rate 7%
$304,743
Cap Rate 9%
$237,022
Alternative Uses
Best Use
Apartment 5plus
$304.7K
$266.7K – $355.5K
NOI $21,332 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$454.5K
$397.7K – $530.3K
NOI $31,815 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
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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 - Corner unit with a private balcony, separate family room, and full-service building amenities.
Where is this residential income property located?
The property is located at 5500 FRIENDSHIP BOULEVARD Unit 1823N Chevy Chase, MD.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1,292‑square‑foot corner residence on the 18th floor; Private balcony finished with wood‑deck tiling; Separate family room with a walk‑in closet
