Penthouse Income Property with
For Sale
$720,000
1301 N COURTHOUSE ROAD Unit 1803, Arlington, VA 22201
Two-level condo residence offers skyline views, garage parking, and flexible loft space near Metro and Arlington amenities.
Property Size1,518 SF
Price / SF$474.31
Days on Market129
Property Features for 1301 N COURTHOUSE ROAD Unit 1803
General Information
Standard status
Active
Size
1,518 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,704
Amenities
private balcony
Building Details
Building Size
1,518 SF
Year Built
1983
Listing Agency:
Realty ONE Group Capital
(703) 522-6444
Listed By:
John J Akhavan · License #0225200870
(703) 522-6444
Source:
Kerishull
Added: Apr 20
Changed: Aug 24
Last Checked: Aug 25 at 12:14PM
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
Investment Insights
Based on property information with market context.
Penthouse Unit 1803 is a two-level residential income property with 1,518 square feet of interior space, two bedrooms, and 2.5 bathrooms. The main level provides an open living arrangement with extensive glass and natural light, while the upper loft adds adaptable space for an office, media area, guest use, studio, or retreat. A private balcony extends the living area outdoors, and garage parking is included.
Completed in 1983, the residence overlooks Washington, DC, with views that include the U.S. Capitol, Washington Monument, and Jefferson Memorial. The property is located at 1301 N Courthouse Road in Arlington, near Metro service, restaurants, cafes, grocery options, the Arlington Farmers Market, and the Rosslyn-Ballston corridor. Access to DC, the Pentagon, National Landing, Amazon HQ2, Tysons, and Reagan National Airport is available by Metro, car, or rideshare.
Completed in 1983, the residence overlooks Washington, DC, with views that include the U.S. Capitol, Washington Monument, and Jefferson Memorial. The property is located at 1301 N Courthouse Road in Arlington, near Metro service, restaurants, cafes, grocery options, the Arlington Farmers Market, and the Rosslyn-Ballston corridor. Access to DC, the Pentagon, National Landing, Amazon HQ2, Tysons, and Reagan National Airport is available by Metro, car, or rideshare.
Key Highlights
- Two‑level penthouse condo with 1,518 SF of interior space
- Two bedrooms and 2.5 bathrooms
- Private balcony with Washington, DC skyline views
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
$22,843
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
3.17%
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%
$456,860
$456.9K
Cap Rate 7%
$326,329
$326.3K
Cap Rate 9%
$253,811
$253.8K
Market Conditions
NOI Build-Up for 1,518 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
$43.7K $28.80/SF
− Vacancy
−$2.2K −$1.44/SF
EGI
$41.5K $27.36/SF
− OpEx
−$18.7K −$12.31/SF
NOI
$22.8K $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%
$456,860
Cap Rate 7%
$326,329
Cap Rate 9%
$253,811
Alternative Uses
Best Use
Apartment 5plus
$326.3K
$285.5K – $380.7K
NOI $22,843 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$843.1K
$737.8K – $983.7K
NOI $59,020 @ 7.0% cap · market cap 8.20%
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
4,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 22201, VA
39,331
Population
21,787
Households
1.8
Avg Household Size
32
Median Age
86%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
17,100
Density / Sq Mi
$141,736
Median Household Income
$89,508
Median Earnings
$2,468
Median Rent
$760,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condo residence offers skyline views, garage parking, and flexible loft space near Metro and Arlington amenities.
Where is this residential income property located?
The property is located at 1301 N COURTHOUSE ROAD Unit 1803 Arlington, VA.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Two‑level penthouse condo with 1,518 SF of interior space; Two bedrooms and 2.5 bathrooms; Private balcony with Washington, DC skyline views
