Residential Income Property with
For Sale
$649,000
255 W FALLS STATION BOULEVARD Unit 205, Falls Church, VA 22046
Two-bedroom residence with open living areas, upgraded finishes, and access to extensive shared amenities.
Property Size1,235 SF
Price / SF$525.51
Days on Market861
Property Features for 255 W FALLS STATION BOULEVARD Unit 205
General Information
Standard status
Active
Size
1,235 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$9,480
Building Details
Building Size
1,235 SF
Year Built
2025
Listing Agency:
Hoffman Realty
Listed By:
Lynn A Tsao · License #0225268490
(202) 302-3060
Source:
Kerishull
Added: Jun 13, 2024
Changed: Oct 17
Last Checked: Oct 21 at 6:59AM
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 Hoffman Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 205 at The Oak is a 2BD/2BA residential income property completed in 2025. The interior includes an open floorplan, high ceilings, expansive windows, and Porcelanosa wide-plank wood-style flooring. Its kitchen features European-inspired frameless cabinetry, quartz countertops, a tile backsplash, matte black fixtures, an island, and ENERGY STAR Bosch appliances. A full-size GE washer and dryer and LED lighting are also included, along with one parking space.
Shared amenities extend across the property and include a 5,000 SF outdoor terrace with gas grills, bar seating, dining space, and lawn areas. Residents also have access to a penthouse terrace, lounge with fireplace and communal dining, fitness center, 24-hour front desk, secure bike storage, car detailing station, and pet washing station. The property is located at 255 W. Falls Station Boulevard in Falls Church, Virginia.
Shared amenities extend across the property and include a 5,000 SF outdoor terrace with gas grills, bar seating, dining space, and lawn areas. Residents also have access to a penthouse terrace, lounge with fireplace and communal dining, fitness center, 24-hour front desk, secure bike storage, car detailing station, and pet washing station. The property is located at 255 W. Falls Station Boulevard in Falls Church, Virginia.
Key Highlights
- 2BD/2BA unit with one parking space
- 2025 construction with high ceilings and expansive windows
- Kitchen with quartz countertops, island, tile backsplash, and ENERGY STAR Bosch appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,486
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,720
$369.7K
Cap Rate 7%
$264,086
$264.1K
Cap Rate 9%
$205,400
$205.4K
Market Conditions
NOI Build-Up for 1,235 SF
Gross rent
$35.6K $28.80/SF
− Vacancy
−$2.0K −$1.58/SF
EGI
$33.6K $27.22/SF
− OpEx
−$15.1K −$12.25/SF
NOI
$18.5K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,720
Cap Rate 7%
$264,086
Cap Rate 9%
$205,400
Alternative Uses
Best Use
Apartment 5plus
$264.1K
$231.1K – $308.1K
NOI $18,486 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.18M
$4.53M – $6.04M
NOI $362,377 @ 7.0% cap · market cap 55.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,850
Businesses Nearby
Explore this area
Business Placement
Demographics for 22046, VA
18,576
Population
7,303
Households
2.5
Avg Household Size
40
Median Age
76%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
6,880
Density / Sq Mi
$175,446
Median Household Income
$83,566
Median Earnings
$2,216
Median Rent
$963,600
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with open living areas, upgraded finishes, and access to extensive shared amenities.
Where is this residential income property located?
The property is located at 255 W FALLS STATION BOULEVARD Unit 205 Falls Church, VA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2BD/2BA unit with one parking space; 2025 construction with high ceilings and expansive windows; Kitchen with quartz countertops, island, tile backsplash, and ENERGY STAR Bosch appliances
