Updated Multifamily Investment
For Sale
$1,525,000
7404 Columbia Avenue, College Park, MD 20740
Six-unit multifamily property in College Park with steady rental income.
Property Size5,200 SF
Price / SF$293.27
Days on Market188
Property Features for 7404 Columbia Avenue
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RMF20
Taxes and HOA fees
Annual Taxes
$13,276
Amenities
No
Disposal, Exhaust Fan, Refrigerator, Stove
Other
No Pool
Building Details
Year Built
1959
Listing Agency:
Compass
Listed By:
Jennifer Smira · License #SP600505
(202) 340-7675
Source:
Compass
Added: Apr 24
Changed: Oct 27
Last Checked: Oct 28 at 11:22AM
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.
This six-unit multifamily property is an offering for investors. The building produces approximately $109,200+ in annual rental income. The previous rent roll reflects consistent performance across all units: Unit 1 – $1,500/month | Unit 2 – $1,500/month | Unit 3 – $1,500/month | Unit 4 – $1,600/month | Unit 5 – $1,500/month | Unit 6 – $1,500/month, with a bonus lower-level area offering potential unit expansion opportunities. Each residence has been modernized with finishes, including quartz kitchen countertops, stainless steel appliances, upgraded cabinetry, tile backsplashes, bathrooms, and flooring throughout. Tenants have mini-split HVAC systems in every unit. The lower level includes a shared laundry area with room for additional storage or future value-add enhancements. Situated on a generous lot, the property features a large paved driveway and parking area accommodating up to nine vehicles. The building sits moments from neighborhood parks, trails, the University of Maryland, restaurants, cafés, and daily conveniences. The property has easy access to I-495 and Route 193. The location supports tenant retention and positions the asset for long-term appreciation. The property is located in College Park. The bike score is 90, the walk score is 78, and the transit score is 43.
Key Highlights
- Fully renovated six‑unit building generating $109,200+ in annual rental income
- Each unit features modern upgrades: quartz countertops, stainless steel appliances, upgraded cabinetry, tile backsplashes, luxury bathrooms, and durable flooring
- Mini‑split HVAC systems in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,006
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,120
$1.4M
Cap Rate 7%
$1,000,086
$1.0M
Cap Rate 9%
$777,844
$777.8K
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$135.4K $26.04/SF
− Vacancy
−$8.1K −$1.56/SF
EGI
$127.3K $24.48/SF
− OpEx
−$57.3K −$11.01/SF
NOI
$70.0K $13.46/SF
Area
Prince George's County, MD
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,120
Cap Rate 7%
$1,000,086
Cap Rate 9%
$777,844
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$875.1K – $1.17M
NOI $70,006 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,425 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
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Business Placement
Demographics for 20740, MD
36,930
Population
13,079
Households
2.8
Avg Household Size
27
Median Age
49%
College-Educated
86%
High-School Grad
8.8 sq mi
ZIP Area
4,197
Density / Sq Mi
$81,359
Median Household Income
$29,270
Median Earnings
$1,788
Median Rent
$417,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property in College Park with steady rental income.
Where is this apartment building located?
The property is located at 7404 Columbia Avenue College Park, MD.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Fully renovated six‑unit building generating $109,200+ in annual rental income; Each unit features modern upgrades: quartz countertops, stainless steel appliances, upgraded cabinetry, tile backsplashes, luxury bathrooms, and durable flooring; Mini‑split HVAC systems in every unit
