OFFER DEADLINE - TUESDAY, APRIL 7th at 3pm Nestled on a quiet, tree-lined street in the heart of Takoma Park, 701 1/2 Chaney Drive presents a rare and compelling investment opportunity. This charming five-unit apartment building blends character, stability, and upside potential—ideal for both seasoned investors and those looking to establish a foothold in a highly desirable rental market. The property features a well-balanced unit mix of four one-bedroom apartments and one two-bedroom apartment, all occupied by professional tenants, providing a steady and reliable income stream from day one. The building exudes classic charm while offering practical functionality, with ample parking and additional storage enhancing tenant convenience and long-term appeal. One of the property’s most unique attributes is its direct backing to Sligo Creek Park, offering residents immediate access to scenic trails, green space, and a tranquil natural setting—an uncommon amenity that sets this asset apart. Despite its peaceful surroundings, the property is just a short distance from downtown Takoma Park’s vibrant mix of shops, restaurants, and community offerings. Beyond its current performance, the property presents a clear value-add opportunity. Strategic rent adjustments and thoughtful expense management offer the potential to enhance cash flow and improve the overall return profile.
921 Prospect St, Takoma Park, MD, is an all-brick 5-Unit apartment building, nestled alongside Long Branch Stream Valley Park, with balconies/porches overlooking the park in every unit (THE GOVERNMENT FLOOD PLAIN MAP DOES NOT DESIGNATE THIS AS A FLOOD PLAIN). Each unit is bright and inviting. Enjoy morning coffee/dinner on your balcony, listening to the birds with creek views. Such a rare, captivating, attractive layout, and in excellent condition. All units are 2BR 1Ba. The "owner unit" has a private storage/hobby/laundry room as well as custom wood cabinetry with pull-out drawers for easy storage in both bedrooms. Units 2 through 5 are currently licensed and occupied. Updated lead-free certificates are available for the 4 licensed units. This is a great opportunity for a resident/owner in a move-in-ready building. Enjoy $6815 of current income from the upper units to supplement expenses, or rent unit 1 for $2200/month and boost income to $9015 per month, which will rise over the years. With all units rented, there is a potential current income of around $108,000/year. Contact the listing agent for income/expense, lease, and unit details. The seller will consider holding a first deed of trust (mortgage) with 30% downpayment for 5 years at a fixed rate of 5% with a balloon payment. This building is located outside of the Takoma Park City limits – it is not subject to the City Rent Stabilization law, but it is subject to the Montgomery County law, with fewer restrictions. The units offer updated kitchens, and most have granite countertops and recent cabinets. The paint and carpets are clean and new. Each unit has a large storage locker in the basement utility room, along with a shared community washer/dryer. Each unit is individually metered and has its own HVAC System (gas furnace/central air conditioning unit). The owner pays for water/sewer/water heater. Private, off-street, paved parking lot for 5 vehicles - one per unit. The building’s condition allows for a turnkey takeover. This updated 1961 building and its location, are a tenant’s dream. Recent replacements/improvements include a new 100 Gallon gas water heater in 2023, a recent large LG washer/dryer in the utility room, new HVAC system (unit 2 in 2023), new AC units (units 2 and 5 in 2024), and units 1, 2, 3, and 5 kitchens remodeled. The building has 6 electric and 6 gas meters and is cable-ready with fiber-optic internet. Secured entry foyer to the 4 upper units. There is a useful storage shed in the rear garden and a private patio behind a fence (Unit 1). Mature garden shrubs and trees enhance the attractive location beside the park with trails. Two future Purple Line metro stations are within .5 miles of the property and Takoma DC Metro station, on the Red Line, is 1.5 miles. Historic downtown Takoma Park with restaurants, Food Coop, Library, and shops are nearby, as is the Whole Foods in downtown Silver Spring and additional shopping. Interstate 495 access is a 5 to 15-minute drive away, depending on traffic and the entrance chosen. Bethesda, MD, and the University of Maryland are a short commute. Washington Adventist University is a short walk away. 2nd opportunity as buyers were unable to perform. Having sold many multi-family units in the Takoma Park area, I can vouch that this building is in one of the best conditions you will find, and not your average multi-family property/location. It's a good long-term investment and/or an ideal home for an owner-resident who wants a private unit in a shared community.
Discover an exceptional opportunity to elevate your business at 7610 Carroll Ave Suite 310 in the heart of Takoma Park. This professional office condo offers a bright, versatile layout ideal for medical, wellness, administrative, or professional services. The suite features a welcoming reception area, multiple private offices/treatment rooms, and ample natural light throughout. The building offers elevator access, updated common areas, and convenient restrooms on each floor. Located steps from local shops, restaurants, public transit, and the Takoma Metro, this property provides unbeatable visibility and accessibility for clients and staff. Whether you're expanding your practice or seeking a prime location for your growing business, Suite 310 delivers the flexibility and convenience you need.
Takoma Park is located in Maryland. Takoma Park, Maryland has a population of 17,610. Takoma Park is more family-centric than the surrounding county with 42.33% of the households containing married families with children. The county average for households married with children is 37.16%.
The median household income in Takoma Park, Maryland is $86,644. The median household income for the surrounding county is $117,345 compared to the national median of $69,021. The median age of people living in Takoma Park is 40.1 years.
The average high temperature in July is 88.3 degrees, with an average low temperature in January of 25.1 degrees. The average rainfall is approximately 43.7 inches per year, with 13.1 inches of snow per year.
