Renovated Two-Bedroom Residential Income
For Sale
$335,000
Pending
1315 S WALTER REED DR # 17101 204, Arlington, VA 22204
ARLINGTON, VA
Property Size838 SF
Days on Market81
Property Features for 1315 S WALTER REED DR # 17101 204
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2
Subdivision
COMMONS OF ARLINGTON
Elementary school
RANDOLPH
Middle school
JEFFERSON
High school
WAKEFIELD
Elementary school district
ARLINGTON COUNTY PUBLIC SCHOOLS
Middle school district
ARLINGTON COUNTY PUBLIC SCHOOLS
High school district
ARLINGTON COUNTY PUBLIC SCHOOLS
Standard status
Pending
Amenities
pool
fitness center
sauna
bike storage
laundry room
dedicated storage
Building Details
Year built
1948
Listing Agency:
One Bethesda
(240) 497-1700
Listed By:
Trevor M Crowley
Added: Aug 6
Changed: Oct 24
Last Checked: Oct 25 at 8:06PM
MLS# VAAR2077346
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 838-square-foot condominium, built in 1948, offers two bedrooms with refreshed interior finishes. Improvements include a renovated kitchen with new cabinetry and appliances, an updated bathroom, fresh paint, new carpet, new light fixtures, and six closets distributed throughout the residence. Each unit also includes a dedicated storage area, while the community provides interior bike storage and a laundry room with new appliances.
Community amenities include a pool, fitness center, sauna, renovated fitness-center bathrooms with a shower, and free parking. The condominium fee covers water, snow removal, and window maintenance. The property is near Columbia Pike, Glebe Road, I-395, Metro access, Walter Reed Community Center, dog parks, and Shirlington dining and shopping.
Community amenities include a pool, fitness center, sauna, renovated fitness-center bathrooms with a shower, and free parking. The condominium fee covers water, snow removal, and window maintenance. The property is near Columbia Pike, Glebe Road, I-395, Metro access, Walter Reed Community Center, dog parks, and Shirlington dining and shopping.
Key Highlights
- 838‑square‑foot condominium with two bedrooms
- Renovated kitchen with new cabinets and full appliance package
- Updated bathroom, fresh paint, new carpet, and new light fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,610
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,200
$252.2K
Cap Rate 7%
$180,143
$180.1K
Cap Rate 9%
$140,111
$140.1K
Market Conditions
NOI Build-Up for 838 SF
Gross rent
$24.1K $28.80/SF
− Vacancy
−$1.2K −$1.44/SF
EGI
$22.9K $27.36/SF
− OpEx
−$10.3K −$12.31/SF
NOI
$12.6K $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 Rate 5%
$252,200
Cap Rate 7%
$180,143
Cap Rate 9%
$140,111
Alternative Uses
Best Use
Apartment 5plus
$180.1K
$157.6K – $210.2K
NOI $12,610 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$465.4K
$407.3K – $543.0K
NOI $32,581 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 22204, VA
52,761
Population
24,128
Households
2.2
Avg Household Size
35
Median Age
62%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
12,869
Density / Sq Mi
$109,277
Median Household Income
$73,091
Median Earnings
$1,871
Median Rent
$672,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated interiors, dedicated storage, and community amenities support comfortable residential use.
Where is this residential income property located?
The property is located at 1315 S WALTER REED DR # 17101 204 Arlington, VA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 838‑square‑foot condominium with two bedrooms; Renovated kitchen with new cabinets and full appliance package; Updated bathroom, fresh paint, new carpet, and new light fixtures
