Renovated Corner Income
For Sale
$1,120,000
1300 CRYSTAL DRIVE Unit 606S, Arlington, VA 22202
Three-bedroom condominium residence with private balconies, refined finishes, and extensive full-service building amenities.
Property Size2,139 SF
Price / SF$523.61
Days on Market78
Property Features for 1300 CRYSTAL DRIVE Unit 606S
General Information
Standard status
Active
Size
2,139 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,892
Amenities
concierge service
indoor pool
outdoor pool
fitness center
sauna
library
secure garage parking
Building Details
Building Size
2,139 SF
Year Built
1981
Listing Agency:
Compass
(703) 239-3082
Listed By:
Traci Johnson · License #0225234154
(703) 239-3082
Source:
Kerishull
Added: Jun 10
Changed: Aug 24
Last Checked: Aug 25 at 11:15AM
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 Compass
Investment Insights
Based on property information with market context.
This 2,139-square-foot corner condominium residence combines a three-bedroom, three-bath layout with two private balconies and two walk-in closets. Renovated interiors feature wide-plank hardwood flooring, custom cabinetry, granite countertops, premium Sub-Zero refrigeration, abundant storage, and built-in furnishings. The primary suite includes a steam shower, and a full-size washer and dryer adds everyday convenience.
Crystal Gateway provides concierge service, indoor and outdoor pools, a fitness center, sauna, library, secure garage parking, and maintained common areas. The property is in National Landing near Amazon HQ2, the Pentagon, Reagan National Airport, Metro, Long Bridge Park, the Mount Vernon Trail, Water Park, Whole Foods, restaurants, and cafes. Built in 1981, the residence offers substantial living space within a condominium setting.
Crystal Gateway provides concierge service, indoor and outdoor pools, a fitness center, sauna, library, secure garage parking, and maintained common areas. The property is in National Landing near Amazon HQ2, the Pentagon, Reagan National Airport, Metro, Long Bridge Park, the Mount Vernon Trail, Water Park, Whole Foods, restaurants, and cafes. Built in 1981, the residence offers substantial living space within a condominium setting.
Key Highlights
- 2,139‑square‑foot corner residence with 3 bedrooms and 3 fully renovated bathrooms
- Two private balconies and two walk‑in closets
- Renovated kitchen with Sub‑Zero refrigerator, separate freezer, custom cabinetry, and granite countertops
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
$32,188
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
2.87%
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%
$643,760
$643.8K
Cap Rate 7%
$459,829
$459.8K
Cap Rate 9%
$357,644
$357.6K
Market Conditions
NOI Build-Up for 2,139 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
$61.6K $28.80/SF
− Vacancy
−$3.1K −$1.44/SF
EGI
$58.5K $27.36/SF
− OpEx
−$26.3K −$12.31/SF
NOI
$32.2K $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%
$643,760
Cap Rate 7%
$459,829
Cap Rate 9%
$357,644
Alternative Uses
Best Use
Apartment 5plus
$459.8K
$402.4K – $536.5K
NOI $32,188 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,164 @ 7.0% cap · market cap 7.43%
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
1,934
Businesses Nearby
Explore this area
Business Placement
Demographics for 22202, VA
28,472
Population
18,110
Households
1.6
Avg Household Size
35
Median Age
84%
College-Educated
98%
High-School Grad
3.9 sq mi
ZIP Area
7,301
Density / Sq Mi
$141,933
Median Household Income
$92,818
Median Earnings
$2,448
Median Rent
$838,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium residence with private balconies, refined finishes, and extensive full-service building amenities.
Where is this residential income property located?
The property is located at 1300 CRYSTAL DRIVE Unit 606S Arlington, VA.
What is the asking price?
The asking price for this property is $1,120,000.
What are key features of this property?
This property features: 2,139‑square‑foot corner residence with 3 bedrooms and 3 fully renovated bathrooms; Two private balconies and two walk‑in closets; Renovated kitchen with Sub‑Zero refrigerator, separate freezer, custom cabinetry, and granite countertops
