Residential Income Property with Deeded
For Sale
$308,000
5500 FRIENDSHIP BOULEVARD Unit 1226N, Chevy Chase, MD 20815
Renovated residence includes an updated kitchen, 1.5 bathrooms, and deeded oversized parking in a high-rise with shared amenities.
Property Size1,030 SF
Price / SF$299.03
Days on Market27
Property Features for 5500 FRIENDSHIP BOULEVARD Unit 1226N
General Information
Standard status
Active
Size
1,030 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,785
Amenities
rooftpo _pool
exercise_room
library
24-hour_security
monitored_access
lobby_desk
Building Details
Building Size
1,030 SF
Year Built
1967
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Oct 2
Changed: Oct 27
Last Checked: Oct 26 at 3:23PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 1,030-square-foot condo, built in 1967, has an updated kitchen with granite counters, backsplash, a wine rack, and added cabinetry. Fresh paint, new carpeting, updated lighting, crown molding, recessed lights, and an expanded walk-in closet complement the interior. The unit includes 1.5 bathrooms with updated vanities and tile, plus an oversized deeded parking space near the elevator.
Residents have access to a rooftop pool and deck, exercise room, library, staffed lobby, and monitored building entry with 24-hour security. Friendship Heights Metro is two blocks away, and shops and restaurants are accessible nearby. The Friendship Heights Village Community Center is across the street and hosts community activities, including a farmers market, movie nights, and exercise programs.
Residents have access to a rooftop pool and deck, exercise room, library, staffed lobby, and monitored building entry with 24-hour security. Friendship Heights Metro is two blocks away, and shops and restaurants are accessible nearby. The Friendship Heights Village Community Center is across the street and hosts community activities, including a farmers market, movie nights, and exercise programs.
Key Highlights
- 1,030‑square‑foot condo with 1.5 bathrooms
- Updated kitchen with granite counters, backsplash, wine rack, and added cabinetry
- Oversized deeded parking space 30 steps from the elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,007
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,140
$340.1K
Cap Rate 7%
$242,957
$243.0K
Cap Rate 9%
$188,967
$189.0K
Market Conditions
NOI Build-Up for 1,030 SF
Gross rent
$33.2K $32.28/SF
− Vacancy
−$2.3K −$2.26/SF
EGI
$30.9K $30.02/SF
− OpEx
−$13.9K −$13.51/SF
NOI
$17.0K $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%
$340,140
Cap Rate 7%
$242,957
Cap Rate 9%
$188,967
Alternative Uses
Best Use
Apartment 5plus
$243.0K
$212.6K – $283.5K
NOI $17,007 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$362.3K
$317.0K – $422.7K
NOI $25,363 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
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 - Renovated residence includes an updated kitchen, 1.5 bathrooms, and deeded oversized parking in a high-rise with shared amenities.
Where is this residential income property located?
The property is located at 5500 FRIENDSHIP BOULEVARD Unit 1226N Chevy Chase, MD.
What is the asking price?
The asking price for this property is $308,000.
What are key features of this property?
This property features: 1,030‑square‑foot condo with 1.5 bathrooms; Updated kitchen with granite counters, backsplash, wine rack, and added cabinetry; Oversized deeded parking space 30 steps from the elevator
