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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. THERE WILL BE AN OPEN HOUSE ON Saturday, 28th 11am to 1pm. Please contact listing agent to register!
| DAYS ON MARKET | 0 | LAST UPDATED | 3/20/2026 |
|---|---|---|---|
| TRACT | TAKOMA PARK | YEAR BUILT | 1937 |
| COUNTY | MONTGOMERY | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | MONTGOMERY COUNTY PUBLIC SCHOOLS |
|---|---|
| Elementary School | TAKOMA PARK |
| Jr. High School | TAKOMA PARK |
| High School | MONTGOMERY BLAIR |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| CONSTRUCTION | Other |
| HEAT | Natural Gas, Radiant |
| LOT | 7841 sq ft |
| PARKING | Driveway |
| SEWER | Public Sewer |
| SUBDIVISION | TAKOMA PARK |
| TAXES | 8509 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
0
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