Residential Income Unit with Updated
For Sale
$169,900
1225 MARTHA CUSTIS DRIVE Unit 403, Alexandria, VA 22302
The unit has a refreshed kitchen with white cabinetry and stainless steel appliances, plus access to a shared outdoor pool.
Property Size489 SF
Price / SF$347.44
Days on Market43
Property Features for 1225 MARTHA CUSTIS DRIVE Unit 403
General Information
Standard status
Active
Size
489 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Ridge/Rosemont
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,169
Amenities
outdoor pool
Building Details
Building Size
489 SF
Year Built
1980
Listing Agency:
RE/MAX Allegiance
Listed By:
JoAnn Kennel · License #0225062667
(703) 403-3899
Source:
Irvinrealtyllc
Added: Sep 16
Changed: Oct 27
Last Checked: Oct 26 at 7:30PM
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 RE/MAX Allegiance
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Investment Insights
Based on property information with market context.
This 489-square-foot residential unit was built in 1980 and includes an updated kitchen with white cabinets and stainless steel appliances. Residents have access to an outdoor community pool and a dedicated parking lot, with additional on-street parking available.
The property is at 1225 Martha Custis Drive in Alexandria. Public transportation is nearby, the airport is less than 10 miles away, and Shirlington’s restaurants, shops, and movie theater are a short distance from the community.
The property is at 1225 Martha Custis Drive in Alexandria. Public transportation is nearby, the airport is less than 10 miles away, and Shirlington’s restaurants, shops, and movie theater are a short distance from the community.
Key Highlights
- 489‑square‑foot unit
- Updated kitchen with white cabinetry and stainless steel appliances
- Community outdoor pool
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,496
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$149,920
$149.9K
Cap Rate 7%
$107,086
$107.1K
Cap Rate 9%
$83,289
$83.3K
Market Conditions
NOI Build-Up for 489 SF
Gross rent
$14.4K $29.40/SF
− Vacancy
−$748 −$1.53/SF
EGI
$13.6K $27.87/SF
− OpEx
−$6.1K −$12.54/SF
NOI
$7.5K $15.33/SF
Area
Alexandria, VA
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$149,920
Cap Rate 7%
$107,086
Cap Rate 9%
$83,289
Alternative Uses
Best Use
Apartment 5plus
$107.1K
$93.7K – $124.9K
NOI $7,496 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$271.6K
$237.7K – $316.9K
NOI $19,012 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,167
Businesses Nearby
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Business Placement
Demographics for 22302, VA
17,972
Population
9,660
Households
1.9
Avg Household Size
38
Median Age
70%
College-Educated
93%
High-School Grad
2.3 sq mi
ZIP Area
7,814
Density / Sq Mi
$127,037
Median Household Income
$83,782
Median Earnings
$2,039
Median Rent
$630,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit has a refreshed kitchen with white cabinetry and stainless steel appliances, plus access to a shared outdoor pool.
Where is this residential income property located?
The property is located at 1225 MARTHA CUSTIS DRIVE Unit 403 Alexandria, VA.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 489‑square‑foot unit; Updated kitchen with white cabinetry and stainless steel appliances; Community outdoor pool
