High-Rise Residential Income
For Sale
$619,500
11990 MARKET STREET Unit 1514, Reston, VA 20190
Two-bedroom condominium with floor-to-ceiling windows, a sunroom, and full-service building amenities.
Property Size1,169 SF
Price / SF$529.94
Days on Market65
Property Features for 11990 MARKET STREET Unit 1514
General Information
Standard status
Active
Size
1,169 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$6,758
Amenities
outdoor swimming pool
spa
fitness center
theatre/media room
conference room
owners' lounge
catering kitchen
library
outdoor grilling and seating area
massage room
24-hour front desk
Building Details
Building Size
1,169 SF
Year Built
2006
Listing Agency:
Hunt Country Sotheby's International Realty
Listed By:
PETER A LEONARD-MORGAN · License #0225224949
(443) 254-5530
Source:
Kerishull
Added: Aug 14
Changed: Oct 8
Last Checked: Oct 16 at 2:39PM
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 Hunt Country Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Set on the 15th floor of a 2006 residential tower, this 1,169-square-foot condominium offers two bedrooms, two bathrooms, and an open living arrangement oriented toward expansive west-facing views. The kitchen includes granite worktops, GE Profile stainless steel appliances, and gas cooking, while the living and dining areas connect to a bright sunroom. Each bedroom functions as a private suite with its own bathroom; the primary bath adds a soaking tub and separate glass shower. One assigned underground parking space conveys with the residence.
Building services include a 24-hour staffed reception desk and controlled entry, along with an outdoor pool and spa, fitness center, theater/media room, conference room, owners’ lounge, library, outdoor grilling and seating areas, and massage room. Reston Town Center provides restaurants, cafes, shops, entertainment, and seasonal events immediately outside. The W&OD Trail, Reston Hospital Center, CVS, Silver Line Metro, Dulles Toll Road, and Fairfax County Parkway are accessible, with Washington Dulles International Airport approximately 10 minutes away.
Building services include a 24-hour staffed reception desk and controlled entry, along with an outdoor pool and spa, fitness center, theater/media room, conference room, owners’ lounge, library, outdoor grilling and seating areas, and massage room. Reston Town Center provides restaurants, cafes, shops, entertainment, and seasonal events immediately outside. The W&OD Trail, Reston Hospital Center, CVS, Silver Line Metro, Dulles Toll Road, and Fairfax County Parkway are accessible, with Washington Dulles International Airport approximately 10 minutes away.
Key Highlights
- 1,169‑square‑foot condominium on the 15th floor
- Two bedrooms and two bathrooms, each bedroom arranged as a private suite
- West‑facing outlooks with floor‑to‑ceiling windows and a separate sunroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,499
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,980
$350.0K
Cap Rate 7%
$249,986
$250.0K
Cap Rate 9%
$194,433
$194.4K
Market Conditions
NOI Build-Up for 1,169 SF
Gross rent
$33.7K $28.80/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$31.8K $27.22/SF
− OpEx
−$14.3K −$12.25/SF
NOI
$17.5K $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%
$349,980
Cap Rate 7%
$249,986
Cap Rate 9%
$194,433
Alternative Uses
Best Use
Apartment 5plus
$250.0K
$218.7K – $291.7K
NOI $17,499 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.90M
$4.29M – $5.72M
NOI $343,011 @ 7.0% cap · market cap 55.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,894
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with floor-to-ceiling windows, a sunroom, and full-service building amenities.
Where is this residential income property located?
The property is located at 11990 MARKET STREET Unit 1514 Reston, VA.
What is the asking price?
The asking price for this property is $619,500.
What are key features of this property?
This property features: 1,169‑square‑foot condominium on the 15th floor; Two bedrooms and two bathrooms, each bedroom arranged as a private suite; West‑facing outlooks with floor‑to‑ceiling windows and a separate sunroom
