Renovated Six-Unit Apartment
For Sale
$1,725,000
7404 COLUMBIA Avenue, College Park, MD 20740
Multi-Family, COLLEGE PARK, MD
Property Size5,200 SF
Lot Size0.28 Acres
Price / SF$331.73
Days on Market282
Property Features for 7404 COLUMBIA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
9
Parking features
Off Street, Driveway
Appliances
Disposal, Exhaust Fan, Refrigerator, Stove
Subdivision
COLLEGE PARK
Elementary school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Middle school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
High school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
5,200 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
13276
Utilities
Heating system
Other (Heating)
Cooling system
Ceiling Fan(s), Ductless
Amenities
shared laundry area
Building Details
Year built
1959
Number of units
4
Building materials
Brick
Listing Agency:
Compass
(202) 386-6330
Listed By:
Jennifer S Smira · License #639332
(202) 280-2060
Added: Dec 4, 2025
Changed: Sep 5
Last Checked: Sep 12 at 4:06AM
MLS# MDPG2184292
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-unit apartment building at 7404 Columbia Avenue contains 5,200 square feet on a 0.2754-acre lot. Built in 1959, the brick property has been renovated with quartz kitchen counters, stainless steel appliances, upgraded cabinetry, tile backsplashes, luxury bathrooms, and durable flooring. Ductless mini-split HVAC systems and ceiling fans provide cooling features throughout the residences.
The lower level includes shared laundry and additional storage space, with room identified for future enhancements. A paved driveway and off-street parking area accommodate up to nine vehicles. The property offers access to I-495 and Route 193, with neighborhood parks, trails, the University of Maryland, restaurants, cafes, and daily conveniences nearby.
The lower level includes shared laundry and additional storage space, with room identified for future enhancements. A paved driveway and off-street parking area accommodate up to nine vehicles. The property offers access to I-495 and Route 193, with neighborhood parks, trails, the University of Maryland, restaurants, cafes, and daily conveniences nearby.
Key Highlights
- Six‑unit apartment building with 5,200 square feet of building area
- Renovated interiors with quartz counters, stainless steel appliances, upgraded cabinetry, and tile backsplashes
- 0.2754‑acre lot with paved driveway and parking for up to nine vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,006
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,425 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with modernized interiors, individual mini-split HVAC systems, shared laundry, and off-street parking.
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 $1,725,000.
What are key features of this property?
This property features: Six‑unit apartment building with 5,200 square feet of building area; Renovated interiors with quartz counters, stainless steel appliances, upgraded cabinetry, and tile backsplashes; 0.2754‑acre lot with paved driveway and parking for up to nine vehicles
