Updated Residential Income
For Sale
$570,000
1016 WAYNE STREET Unit 1007, Arlington, VA 22204
Renovated two-bedroom residence with an open layout, private balcony, and building amenities including concierge service and an outdoor pool.
Property Size1,422 SF
Price / SF$400.84
Days on Market72
Property Features for 1016 WAYNE STREET Unit 1007
General Information
Standard status
Active
Size
1,422 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,124
Amenities
concierge
outdoor pool
in-unit washer/dryer
Building Details
Building Size
1,422 SF
Year Built
1982
Year Renovated
2026
Listing Agency:
KW Metro Center
Listed By:
Marybeth G Fraser · License #00225205489
(703) 798-1803
Source:
Kerishull
Added: Aug 6
Changed: Oct 3
Last Checked: Oct 15 at 5:22AM
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.
Unit 1007 is a 1,422-square-foot, two-bedroom, two-bath residence renovated in June 2026. The open plan connects the living, dining, and kitchen areas, with professionally painted interiors and exposed golden oak hardwood flooring in the main living spaces. The kitchen includes white cabinetry, stainless steel appliances, Cambria countertops, two breakfast bars, and pantry storage. Sliding glass doors lead to a private balcony with Arlington skyline views. The residence also includes generous closets, additional storage, a renovated primary bathroom with ceramic tile and a spa-inspired shower, plus a full-size side-by-side washer and dryer.
The Barkley provides two parking spaces, guest parking, 24/7 concierge service, and an outdoor pool. Condo fees include water, sewer, trash, and recycling. The property is near Columbia Pike restaurants, cafes, grocery stores, parks, and trails, with nearby Metrobus and ART bus service to the Pentagon, National Landing, Pentagon City, Ballston, Rosslyn, and Washington, DC.
The Barkley provides two parking spaces, guest parking, 24/7 concierge service, and an outdoor pool. Condo fees include water, sewer, trash, and recycling. The property is near Columbia Pike restaurants, cafes, grocery stores, parks, and trails, with nearby Metrobus and ART bus service to the Pentagon, National Landing, Pentagon City, Ballston, Rosslyn, and Washington, DC.
Key Highlights
- 1,422 SF two‑bedroom, two‑bath residence renovated in June 2026
- Open living, dining, and kitchen arrangement with golden oak hardwood flooring
- Kitchen with stainless steel appliances, Cambria countertops, two breakfast bars, and pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,398
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,960
$428.0K
Cap Rate 7%
$305,686
$305.7K
Cap Rate 9%
$237,756
$237.8K
Market Conditions
NOI Build-Up for 1,422 SF
Gross rent
$41.0K $28.80/SF
− Vacancy
−$2.0K −$1.44/SF
EGI
$38.9K $27.36/SF
− OpEx
−$17.5K −$12.31/SF
NOI
$21.4K $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%
$427,960
Cap Rate 7%
$305,686
Cap Rate 9%
$237,756
Alternative Uses
Best Use
Apartment 5plus
$305.7K
$267.5K – $356.6K
NOI $21,398 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$789.8K
$691.1K – $921.5K
NOI $55,287 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated two-bedroom residence with an open layout, private balcony, and building amenities including concierge service and an outdoor pool.
Where is this residential income property located?
The property is located at 1016 WAYNE STREET Unit 1007 Arlington, VA.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: 1,422 SF two‑bedroom, two‑bath residence renovated in June 2026; Open living, dining, and kitchen arrangement with golden oak hardwood flooring; Kitchen with stainless steel appliances, Cambria countertops, two breakfast bars, and pantry
