Three-Bedroom Residential
For Sale
$227,900
12703 LOTTE DRIVE Unit 203, Woodbridge, VA 22192
A 2020 renovation updated the kitchen, bathroom, HVAC, and windows, with LVP flooring and a private balcony.
Property Size1,016 SF
Price / SF$224.31
Days on Market143
Property Features for 12703 LOTTE DRIVE Unit 203
General Information
Standard status
Active
Size
1,016 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/1BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,314
Amenities
outdoor pool
playground
onsite management
laundry
storage
Building Details
Building Size
1,016 SF
Year Built
1968
Year Renovated
2020
Listing Agency:
KW Metro Center
Listed By:
Jenny Betres Kirkland · License #0225217119
(703) 220-9378
Source:
Signaturemoverealestate
Added: Jun 15
Changed: Nov 2
Last Checked: Nov 3 at 8:45AM
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.
This 1,016-square-foot condominium has three bedrooms, one bathroom, an open layout, and a private balcony overlooking wooded surroundings. Updates completed in 2020 included the kitchen, bathroom, HVAC, and windows; the unit also has LVP flooring and fresh paint. Laundry and storage are available in the building, alongside an outdoor pool, playground, onsite management, and storage units. The condo fee covers electricity, gas, water, trash, and basic cable.
The community is near Potomac Mills and the Town of Occoquan. Old Bridge Road and Occoquan Road provide local connections, with access to I-95 and the Express Lanes. The Woodbridge VRE station, commuter lots, and slug lines are also nearby. Occoquan River, Rivermill Park, and nearby trails offer access to outdoor recreation.
The community is near Potomac Mills and the Town of Occoquan. Old Bridge Road and Occoquan Road provide local connections, with access to I-95 and the Express Lanes. The Woodbridge VRE station, commuter lots, and slug lines are also nearby. Occoquan River, Rivermill Park, and nearby trails offer access to outdoor recreation.
Key Highlights
- 1,016‑square‑foot condo with three bedrooms and one bathroom
- Kitchen, bathroom, HVAC, and windows renovated in 2020
- Condo fee includes electricity, gas, water, trash, and basic cable
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,659
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,180
$273.2K
Cap Rate 7%
$195,129
$195.1K
Cap Rate 9%
$151,767
$151.8K
Market Conditions
NOI Build-Up for 1,016 SF
Gross rent
$25.6K $25.20/SF
− Vacancy
−$768 −$0.76/SF
EGI
$24.8K $24.44/SF
− OpEx
−$11.2K −$11.00/SF
NOI
$13.7K $13.44/SF
Area
Prince William County, VA
Vacancy
3.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,180
Cap Rate 7%
$195,129
Cap Rate 9%
$151,767
Alternative Uses
Best Use
Apartment 5plus
$195.1K
$170.7K – $227.7K
NOI $13,659 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$298.4K
$261.1K – $348.1K
NOI $20,887 @ 7.0% cap · market cap 9.16%
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
911
Businesses Nearby
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Business Placement
Demographics for 22192, VA
60,299
Population
21,290
Households
2.8
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
19.2 sq mi
ZIP Area
3,141
Density / Sq Mi
$122,005
Median Household Income
$60,918
Median Earnings
$2,012
Median Rent
$465,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A 2020 renovation updated the kitchen, bathroom, HVAC, and windows, with LVP flooring and a private balcony.
Where is this residential income property located?
The property is located at 12703 LOTTE DRIVE Unit 203 Woodbridge, VA.
What is the asking price?
The asking price for this property is $227,900.
What are key features of this property?
This property features: 1,016‑square‑foot condo with three bedrooms and one bathroom; Kitchen, bathroom, HVAC, and windows renovated in 2020; Condo fee includes electricity, gas, water, trash, and basic cable
