700 Chaney Drive

TAKOMA PARK, MD 20912

$549,000 $2,314/Mo

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Overview

Bed

Bath

3,500

Sqft

0.18

Acre(Lot)

Description

THIS IS A 5 UNIT MULTI FAMILY PROPERTY 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 a ppeal. 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.

Property Details

Property Type : Residential Income

Price : $549,000

AD Id : 76315096

MLS Id : MDMC2223176

Beds : 2

Lot Size : 0.18 Acre

Living Area Size : 3,500

Year Built : 1937

County : MONTGOMERY

Subdivision: Takoma Park

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 2
Interior Features

Appliances: Gas Water Heater
Heating & Cooling

Has Heating: Yes Heating: Natural Gas, Radiant Has Cooling: Yes Cooling: Central Air, Electric

Building Information

Year Built: 1937 Building Area Total: 3500 Construction Materials: Other Pool Features: None Private Pool: No

Lot Information

Lot Size Acres: 0.18 Lot Size Source: Assessor Lot Size Square Feet: 7653

Property Information

Subdivision: TAKOMA PARK Source Property Type: Residential Income Postal Code Plus 4: 6365 Property SubType: Multi Family Property Age: 89

Listing Price Information

Listing Price: $549000

Tax Information

Parcel Number: 161301058244 Tax Lot: P25 Tax Year: 2025 Annual Tax: $8509

Parking Information

Driveway

School Information

Elementary School: TAKOMA PARK

Junior High School: TAKOMA PARK

Senior High School: MONTGOMERY BLAIR
Location Information

Direction: Use GPS for best route WaterSource: Public

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