5401 Connecticut Ave NW | Washington, DC 20015
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- LoopNet Team
5401 Connecticut Ave NW
Washington, DC 20015
The Flats at Chevy Chase · Multifamily Property For Sale
·
21 Units
INVESTMENT HIGHLIGHTS
- Rent Control Exemption: All 21 units are RAD-exempt, allowing full market-rate rent resets—rare flexibility in DC's regulated rental market.
- Premier Location: Sits in affluent Chevy Chase, DC with a $235k median income and Walk Score of 87; steps to Metro, parks, and street retail.
- Rare Off-Street Parking: 15 parking spaces generated $13k+ last year in a commuter's dream location where parking is a premium amenity.
- Cash-Flowing Condo Asset: 21 fully deeded units with strong in-place rents averaging $2,253/month and meaningful upside to ~$2,967/month.
- Strong Rent Growth: Current rents average $2,253/month vs. pro forma market rents of $2,967/month, offering clear rent lift opportunity.
- Luxury Interiors: Units feature central HVAC, parquet floors, balconies, dishwashers and 150–200 amp electrical—ideal for luxury repositioning.
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Range
- Tub/Shower
- Family Room
- Freezer
- Linen Closet
- Patio
- Window Coverings
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Private Bathroom
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | $2,148 | 761 |
| 2+1.5 | 7 | $3,535 | 1,523 |
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