Studio Residential Income
For Sale
$119,900
1121 ARLINGTON BOULEVARD Unit 534, Arlington, VA 22209
Open-plan condo with a separate gas kitchen, hardwood floors, and access to extensive community amenities.
Property Size383 SF
Days on Market14
Property Features for 1121 ARLINGTON BOULEVARD Unit 534
General Information
Standard status
Active
Size
383 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,232
Amenities
24-hour security
concierge service
outdoor pool
fitness center with sauna
recreation area
picnic areas
on-site market
community coffee shop and salon
laundry facilities
Building Details
Building Size
383 SF
Year Built
1955
Listing Agency:
TTR Sotheby's International Realty
(703) 350-8800
Listed By:
Blake Davenport · License #0225222211
(703) 350-8800
Source:
Kwcapitalproperties
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 25 at 12:08PM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
This studio condominium at River Place was built in 1955 and features an open living area with hardwood flooring, a large window, and a separate kitchen with gas cooking. The flexible interior accommodates distinct living and sleeping zones, while additional closet space provides storage. An assigned parking space is available in the community lot, subject to a separate biannual parking fee. Utilities are included in the condo fee.
Community amenities include 24-hour security, concierge service, an outdoor pool, fitness center with sauna, recreation space, picnic areas, an on-site market, coffee shop, salon, and laundry facilities. The property is two blocks from the Rosslyn Metro, with access to the Orange, Blue, and Silver lines. Key Bridge, Georgetown, downtown DC, retail, restaurants, Safeway, and Trader Joe’s are also nearby.
Community amenities include 24-hour security, concierge service, an outdoor pool, fitness center with sauna, recreation space, picnic areas, an on-site market, coffee shop, salon, and laundry facilities. The property is two blocks from the Rosslyn Metro, with access to the Orange, Blue, and Silver lines. Key Bridge, Georgetown, downtown DC, retail, restaurants, Safeway, and Trader Joe’s are also nearby.
Key Highlights
- Studio condo with hardwood floors and a separate kitchen with gas cooking
- Flexible layout with distinct living and sleeping areas plus additional closet storage
- Assigned parking space in the community parking lot, subject to a separate biannual parking fee
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,763
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$115,260
$115.3K
Cap Rate 7%
$82,329
$82.3K
Cap Rate 9%
$64,033
$64.0K
Market Conditions
NOI Build-Up for 383 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$11.0K $28.80/SF
− Vacancy
−$552 −$1.44/SF
EGI
$10.5K $27.36/SF
− OpEx
−$4.7K −$12.31/SF
NOI
$5.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$115,260
Cap Rate 7%
$82,329
Cap Rate 9%
$64,033
Alternative Uses
Best Use
Apartment 5plus
$82.3K
$72.0K – $96.1K
NOI $5,763 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$212.7K
$186.1K – $248.2K
NOI $14,891 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,499
Businesses Nearby
Explore this area
Business Placement
Demographics for 22209, VA
14,859
Population
9,261
Households
1.6
Avg Household Size
33
Median Age
86%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
21,227
Density / Sq Mi
$110,824
Median Household Income
$83,221
Median Earnings
$2,171
Median Rent
$799,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-plan condo with a separate gas kitchen, hardwood floors, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 1121 ARLINGTON BOULEVARD Unit 534 Arlington, VA.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: Studio condo with hardwood floors and a separate kitchen with gas cooking; Flexible layout with distinct living and sleeping areas plus additional closet storage; Assigned parking space in the community parking lot, subject to a separate biannual parking fee
