Updated 2-Bedroom Income
For Sale
$355,000
1322 FORT MYER DRIVE Unit 924, Arlington, VA 22209
Light-filled home with hardwood floors, two parking spaces, storage, and building laundry near retail, dining, parks, and transit.
Property Size783 SF
Price / SF$453.38
Days on Market51
Property Features for 1322 FORT MYER DRIVE Unit 924
General Information
Standard status
Active
Size
783 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Radnor/Fort Myer Heights
Public Transit
Yes
Units
Unit Mix
2BR/1BA
Multifamily Units
1
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$3,629
Amenities
laundry
storage
Building Details
Building Size
783 SF
Year Built
1947
Listing Agency:
Weichert, REALTORS
Listed By:
Lisa M Koch · License #0225099347
(703) 801-7156
Source:
Kwcapitalproperties
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 27 at 12:53AM
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 Weichert, REALTORS
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Investment Insights
Based on property information with market context.
This 783-square-foot residential income property includes two bedrooms and one bathroom in a 1947 building. The interior has been updated and freshly painted, with hardwood flooring, a spacious living room, separate dining area, entryway, walk-in closet, and a kitchen with extensive storage. The unit also includes two parking spaces, while additional storage and laundry are located in the building.
The property is in Arlington’s Rosslyn neighborhood, 0.5 miles from the Rosslyn Metro, 0.7 miles from the Courthouse Metro, and 1 mile from Georgetown. Shops, restaurants, parks, and Washington, DC are also nearby.
The property is in Arlington’s Rosslyn neighborhood, 0.5 miles from the Rosslyn Metro, 0.7 miles from the Courthouse Metro, and 1 mile from Georgetown. Shops, restaurants, parks, and Washington, DC are also nearby.
Key Highlights
- 783 square feet with two bedrooms and one bathroom
- Updated interior with fresh paint and hardwood floors
- Kitchen includes substantial storage and a separate dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,783
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,660
$235.7K
Cap Rate 7%
$168,329
$168.3K
Cap Rate 9%
$130,922
$130.9K
Market Conditions
NOI Build-Up for 783 SF
Gross rent
$22.6K $28.80/SF
− Vacancy
−$1.1K −$1.44/SF
EGI
$21.4K $27.36/SF
− OpEx
−$9.6K −$12.31/SF
NOI
$11.8K $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 Rate 5%
$235,660
Cap Rate 7%
$168,329
Cap Rate 9%
$130,922
Alternative Uses
Best Use
Apartment 5plus
$168.3K
$147.3K – $196.4K
NOI $11,783 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$434.9K
$380.5K – $507.4K
NOI $30,443 @ 7.0% cap · market cap 8.58%
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
3,068
Businesses Nearby
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Business Placement
Demographics for 22209, VA
14,859
Population
9,261
Households
1.6
Avg Household Size
33
Median Age
86%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
21,227
Density / Sq Mi
$110,824
Median Household Income
$83,221
Median Earnings
$2,171
Median Rent
$799,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Light-filled home with hardwood floors, two parking spaces, storage, and building laundry near retail, dining, parks, and transit.
Where is this residential income property located?
The property is located at 1322 FORT MYER DRIVE Unit 924 Arlington, VA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 783 square feet with two bedrooms and one bathroom; Updated interior with fresh paint and hardwood floors; Kitchen includes substantial storage and a separate dining area
