Residential Income Property with Updated
For Sale
$279,900
11252 CHESTNUT GROVE SQUARE Unit 248, Reston, VA 20190
The condo includes three bedrooms, two bathrooms, updated baths, and a recently installed HVAC system.
Property Size1,330 SF
Price / SF$210.45
Days on Market55
Property Features for 11252 CHESTNUT GROVE SQUARE Unit 248
General Information
Standard status
Active
Size
1,330 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,739
Amenities
outdoor pool
tennis courts
tot-lot/playground
grills
picnic area
Building Details
Building Size
1,330 SF
Year Built
1972
Listing Agency:
Realty ONE Group Capital
Listed By:
Alireza Zinat · License #0225213743
(703) 627-1305
Source:
Horsefarmsandcountryhomes
Added: Sep 11
Changed: Nov 3
Last Checked: Nov 3 at 7:41AM
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 Realty ONE Group Capital
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Investment Insights
Based on property information with market context.
This 1,330-square-foot condominium in Chestnut Grove has three bedrooms and two bathrooms. The kitchen and bathrooms have been updated, and the unit has a new HVAC system. The building dates to 1972.
Residents have access to Chestnut Grove amenities including an outdoor pool, tennis courts, a playground, grills, and a picnic area. Reston’s community amenities include 15 pools, 55 miles of trails, 52 tennis courts, 18 pickleball courts, four lakes, and numerous parks. The property is near Wiehle Metro Station, Reston Station shopping plaza, Lifetime Fitness, the JW Marriott, the Dulles Toll Road, and the W&OD Trail; Tysons Corner is a short drive away.
Residents have access to Chestnut Grove amenities including an outdoor pool, tennis courts, a playground, grills, and a picnic area. Reston’s community amenities include 15 pools, 55 miles of trails, 52 tennis courts, 18 pickleball courts, four lakes, and numerous parks. The property is near Wiehle Metro Station, Reston Station shopping plaza, Lifetime Fitness, the JW Marriott, the Dulles Toll Road, and the W&OD Trail; Tysons Corner is a short drive away.
Key Highlights
- Three‑bedroom, two‑bathroom condominium with 1,330 square feet
- Updated kitchen and bathrooms; new HVAC system
- Built in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,909
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,180
$398.2K
Cap Rate 7%
$284,414
$284.4K
Cap Rate 9%
$221,211
$221.2K
Market Conditions
NOI Build-Up for 1,330 SF
Gross rent
$38.3K $28.80/SF
− Vacancy
−$2.1K −$1.58/SF
EGI
$36.2K $27.22/SF
− OpEx
−$16.3K −$12.25/SF
NOI
$19.9K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,180
Cap Rate 7%
$284,414
Cap Rate 9%
$221,211
Alternative Uses
Best Use
Apartment 5plus
$284.4K
$248.9K – $331.8K
NOI $19,909 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.58M
$4.88M – $6.50M
NOI $390,252 @ 7.0% cap · market cap 139.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 20190, VA
20,957
Population
12,180
Households
1.7
Avg Household Size
40
Median Age
72%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,763
Density / Sq Mi
$126,928
Median Household Income
$83,750
Median Earnings
$2,241
Median Rent
$568,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condo includes three bedrooms, two bathrooms, updated baths, and a recently installed HVAC system.
Where is this residential income property located?
The property is located at 11252 CHESTNUT GROVE SQUARE Unit 248 Reston, VA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Three‑bedroom, two‑bathroom condominium with 1,330 square feet; Updated kitchen and bathrooms; new HVAC system; Built in 1972
