7,653 Sqft Lot
7,653 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Takoma Park
MLS Listing ID MDMC2223158
Year Built 1937
Annual Tax Amount $8,509
Tax Year 2025
Lot Size 7,653 Sqft
Acres 0.18
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
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.
Location
State MD
County Montgomery
Zoning R30
Interior
Hot Water Natural Gas
Heating Radiator
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 5.0
Water Access N
Accessibility None
Total Parking Spaces 5
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Takoma Park
Middle Schools Takoma Park
High Schools Montgomery Blair
School District Montgomery County Public Schools
Others
Tax ID 161301058244
Ownership Fee Simple
Special Listing Condition Standard
Virtual Tour https://mls.truplace.com/property/1507/141731/
Nearby Locations
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