Residential Income Property with Private
For Sale
$565,000
1016 S WAYNE STREET Unit T-12, Arlington, VA 22204
Updated condominium residence with abundant natural light, upgraded finishes, dedicated parking, storage, and full-service building amenities.
Property Size1,267 SF
Price / SF$445.94
Days on Market230
Property Features for 1016 S WAYNE STREET Unit T-12
General Information
Standard status
Active
Size
1,267 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,043
Amenities
concierge service
outdoor swimming pool
fitness center
sauna
library
common terrace
in-unit laundry
private storage unit
bike storage
Building Details
Building Size
1,267 SF
Year Built
1982
Listing Agency:
KW Metro Center
Listed By:
Norman G Odeneal II · License #0225088276
(703) 587-0945
Source:
Kerishull
Added: Mar 5
Changed: Oct 20
Last Checked: Oct 21 at 6:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Metro Center
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Investment Insights
Based on property information with market context.
This updated condominium residence at The Barkley Condominium offers 1,267 square feet of living space with ceramic tile flooring, open living and dining areas, and a private brick-walled terrace measuring 40 feet. New windows and sliding glass doors installed in 2025 bring substantial natural light into the home. The kitchen includes stainless steel KitchenAid appliances, quartz countertops, and new cabinetry, while the primary suite features floor-to-ceiling windows, an updated en-suite bath, and an oversized walk-in closet. In-unit laundry includes a full-size washer and dryer, and the HVAC system was installed in June 2024.
The property includes an assigned garage parking space, private storage, and access to bike storage. Building amenities include concierge service, an outdoor swimming pool, fitness center, sauna, library, and common terrace. Located along the Columbia Pike corridor next to Giant Food, the residence offers access to Arlington Boulevard, Glebe Road, Interstate 395, and Interstate 66, with connections to The Pentagon, National Landing, Old Town Alexandria, Washington, D.C., and Ronald Reagan Washington National Airport.
The property includes an assigned garage parking space, private storage, and access to bike storage. Building amenities include concierge service, an outdoor swimming pool, fitness center, sauna, library, and common terrace. Located along the Columbia Pike corridor next to Giant Food, the residence offers access to Arlington Boulevard, Glebe Road, Interstate 395, and Interstate 66, with connections to The Pentagon, National Landing, Old Town Alexandria, Washington, D.C., and Ronald Reagan Washington National Airport.
Key Highlights
- 1,267‑square‑foot condominium residence at The Barkley Condominium
- Private brick‑walled terrace measuring 40 feet
- New windows and sliding glass doors installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,066
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,320
$381.3K
Cap Rate 7%
$272,371
$272.4K
Cap Rate 9%
$211,844
$211.8K
Market Conditions
NOI Build-Up for 1,267 SF
Gross rent
$36.5K $28.80/SF
− Vacancy
−$1.8K −$1.44/SF
EGI
$34.7K $27.36/SF
− OpEx
−$15.6K −$12.31/SF
NOI
$19.1K $15.05/SF
Area
Arlington, VA
Vacancy
5.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,320
Cap Rate 7%
$272,371
Cap Rate 9%
$211,844
Alternative Uses
Best Use
Apartment 5plus
$272.4K
$238.3K – $317.8K
NOI $19,066 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$703.7K
$615.8K – $821.0K
NOI $49,261 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
Explore this area
Business Placement
Demographics for 22204, VA
52,761
Population
24,128
Households
2.2
Avg Household Size
35
Median Age
62%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
12,869
Density / Sq Mi
$109,277
Median Household Income
$73,091
Median Earnings
$1,871
Median Rent
$672,100
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with abundant natural light, upgraded finishes, dedicated parking, storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 1016 S WAYNE STREET Unit T-12 Arlington, VA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 1,267‑square‑foot condominium residence at The Barkley Condominium; Private brick‑walled terrace measuring 40 feet; New windows and sliding glass doors installed in 2025
