Residential Income Property with Three
For Sale
$279,000
6641 WAKEFIELD DR #702, Alexandria, VA 22307
ALEXANDRIA, VA
Property Size1,362 SF
Price / SF$204.85
Days on Market12
Property Features for 6641 WAKEFIELD DR #702
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bedroom 2
Subdivision
RIVER TOWERS
Elementary school
BELLE VIEW
Middle school
SANDBURG
High school
WEST POTOMAC
Elementary school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Middle school district
FAIRFAX COUNTY PUBLIC SCHOOLS
High school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
outdoor swimming pool
sport courts
jogging/walking paths
picnic areas
exercise rooms
meeting room
party room
Building Details
Year built
1963
Listing Agency:
Alex/OldTown HistoricDistrict
(703) 683-0400
Listed By:
Michael Manuel
(703) 615-6317
Added: Sep 25
Changed: Sep 29
Last Checked: Oct 6 at 4:06PM
MLS# VAFX2314746
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-bedroom, two-bathroom condominium offers 1,362 square feet in a traditional floor plan, with south-facing living and dining areas. The kitchen has upgraded countertops, a gas stove, refrigerator, dishwasher, and disposal. New neutral carpeting and fresh paint update the interior; original parquet flooring remains beneath the carpet. Bedroom closets provide storage, and window treatments are installed.
River Towers offers an outdoor swimming pool, sport courts, walking and jogging paths, picnic areas, exercise rooms in each building, and shared meeting and party rooms. Bus stops, Metro stations, and Alexandria Train Station are nearby. The Potomac River, Belle Haven Marina, grocery stores, restaurants, and other commerce are within walking distance. The George Washington Parkway provides a northbound route toward Reagan National Airport, Old Town, the Pentagon, and Washington, DC.
The community provides snow removal, trash collection, and lawn maintenance, with most utilities included in the condominium fee. Parking is unassigned in the lot, with additional on-street parking available.
River Towers offers an outdoor swimming pool, sport courts, walking and jogging paths, picnic areas, exercise rooms in each building, and shared meeting and party rooms. Bus stops, Metro stations, and Alexandria Train Station are nearby. The Potomac River, Belle Haven Marina, grocery stores, restaurants, and other commerce are within walking distance. The George Washington Parkway provides a northbound route toward Reagan National Airport, Old Town, the Pentagon, and Washington, DC.
The community provides snow removal, trash collection, and lawn maintenance, with most utilities included in the condominium fee. Parking is unassigned in the lot, with additional on-street parking available.
Key Highlights
- Three bedrooms and two full bathrooms in 1,362 square feet
- Traditional floor plan with south‑facing living and dining areas
- Kitchen includes upgraded countertops, gas stove, refrigerator, dishwasher, and disposal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,878
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,560
$417.6K
Cap Rate 7%
$298,257
$298.3K
Cap Rate 9%
$231,978
$232.0K
Market Conditions
NOI Build-Up for 1,362 SF
Gross rent
$40.0K $29.40/SF
− Vacancy
−$2.1K −$1.53/SF
EGI
$38.0K $27.87/SF
− OpEx
−$17.1K −$12.54/SF
NOI
$20.9K $15.33/SF
Area
Alexandria, VA
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,560
Cap Rate 7%
$298,257
Cap Rate 9%
$231,978
Alternative Uses
Best Use
Apartment 5plus
$298.3K
$261.0K – $348.0K
NOI $20,878 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$756.5K
$661.9K – $882.6K
NOI $52,955 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 22307, VA
10,271
Population
4,742
Households
2.2
Avg Household Size
45
Median Age
70%
College-Educated
96%
High-School Grad
3.1 sq mi
ZIP Area
3,313
Density / Sq Mi
$140,559
Median Household Income
$86,082
Median Earnings
$1,906
Median Rent
$752,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - A 1,362-square-foot condominium pairs a traditional layout with community recreation amenities and nearby public transportation.
Where is this residential income property located?
The property is located at 6641 WAKEFIELD DR #702 Alexandria, VA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Three bedrooms and two full bathrooms in 1,362 square feet; Traditional floor plan with south‑facing living and dining areas; Kitchen includes upgraded countertops, gas stove, refrigerator, dishwasher, and disposal
