Renovated Six-Unit Apartment
New
For Sale
$1,525,000
7404 COLUMBIA Avenue, College Park, MD 20740
Multi-Family, COLLEGE PARK, MD
Property Size5,200 SF
Lot Size0.28 Acres
Price / SF$293.27
Days on Market2
Property Features for 7404 COLUMBIA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
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: Sep 14
Last Checked: Sep 15 at 12:06PM
MLS# MDPG2218830
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 renovated apartment building contains six residences within 5,200 square feet on a 0.2754-acre lot. Interior updates include quartz kitchen counters, stainless steel appliances, refreshed cabinetry, tile backsplashes, modern bathrooms, and durable flooring. Ductless mini-split HVAC systems and ceiling fans support year-round comfort in each unit. Brick construction and a lower-level area add functional utility to the property.
The site includes a paved driveway and parking area with capacity for up to nine vehicles. A shared laundry area occupies the lower level, which also provides storage space and room for future improvements. The property is positioned near neighborhood parks, trails, the University of Maryland, restaurants, cafes, and everyday services, with access to I-495 and Route 193. The address is 7404 Columbia Avenue in College Park, Maryland.
The site includes a paved driveway and parking area with capacity for up to nine vehicles. A shared laundry area occupies the lower level, which also provides storage space and room for future improvements. The property is positioned near neighborhood parks, trails, the University of Maryland, restaurants, cafes, and everyday services, with access to I-495 and Route 193. The address is 7404 Columbia Avenue in College Park, Maryland.
Key Highlights
- Six‑unit apartment building with 5,200 square feet of property size
- Renovated interiors with quartz counters, stainless steel appliances, tile backsplashes, and durable flooring
- Ductless mini‑split HVAC systems in every unit
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
4.59%
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 4.59%
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.
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated residences feature modern kitchens, private HVAC systems, durable finishes, and shared lower-level laundry.
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: Six‑unit apartment building with 5,200 square feet of property size; Renovated interiors with quartz counters, stainless steel appliances, tile backsplashes, and durable flooring; Ductless mini‑split HVAC systems in every unit
