Residential Income Property with
For Sale
$359,900
1504 LINCOLN WAY Unit 133, Mc Lean, VA 22102
Updated condominium with an in-unit laundry setup, two parking spaces, and access to shared recreation and fitness amenities.
Property Size952 SF
Price / SF$378.05
Days on Market98
Property Features for 1504 LINCOLN WAY Unit 133
General Information
Standard status
Active
Size
952 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,141
Amenities
clubhouse
billiards room
party rooms
24-hour fitness center
outdoor pool
landscaped grounds
covered balcony
in-unit washer and dryer
Building Details
Building Size
952 SF
Year Built
1988
Listing Agency:
Capital Center
Listed By:
Heather Fry · License #0225247379
(214) 514-6894
Source:
Jackrealtygroup
Added: Jul 28
Changed: Nov 2
Last Checked: Oct 31 at 3:43PM
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 Capital Center
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Investment Insights
Based on property information with market context.
This 952-square-foot condominium has two bedrooms and two bathrooms, with hardwood flooring in the living areas and bedrooms. The kitchen features granite counters and an open connection to the living room. Bedrooms sit on opposite sides of the unit, and the primary suite includes a walk-in closet and updated bathroom. A covered balcony, in-unit washer and dryer, and two parking spaces—one assigned garage space and one surface space—round out the layout. An elevator serves the first floor. Improvements include double-pane windows installed in 2022, a newer water heater, and HVAC installed in July 2026. The building’s roof, doors, siding, exterior paint, and retaining walls were renovated in 2020.
Community features include a clubhouse, billiards room, party rooms, a 24-hour fitness center, an outdoor pool, and landscaped grounds. The property is near Metro access, I-495, the Dulles Access Road, and Route 7, with Tysons Galleria and Tysons Corner minutes away.
Community features include a clubhouse, billiards room, party rooms, a 24-hour fitness center, an outdoor pool, and landscaped grounds. The property is near Metro access, I-495, the Dulles Access Road, and Route 7, with Tysons Galleria and Tysons Corner minutes away.
Key Highlights
- 952‑square‑foot condominium with 2 bedrooms and 2 bathrooms
- Covered private balcony and in‑unit washer and dryer
- Two parking spaces: one assigned garage space and one surface lot space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,250
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,000
$285.0K
Cap Rate 7%
$203,571
$203.6K
Cap Rate 9%
$158,333
$158.3K
Market Conditions
NOI Build-Up for 952 SF
Gross rent
$27.4K $28.80/SF
− Vacancy
−$1.5K −$1.58/SF
EGI
$25.9K $27.22/SF
− OpEx
−$11.7K −$12.25/SF
NOI
$14.3K $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%
$285,000
Cap Rate 7%
$203,571
Cap Rate 9%
$158,333
Alternative Uses
Best Use
Apartment 5plus
$203.6K
$178.1K – $237.5K
NOI $14,250 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.99M
$3.49M – $4.66M
NOI $279,338 @ 7.0% cap · market cap 77.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,652
Businesses Nearby
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Business Placement
Demographics for 22102, VA
27,743
Population
14,274
Households
1.9
Avg Household Size
37
Median Age
81%
College-Educated
99%
High-School Grad
12.3 sq mi
ZIP Area
2,256
Density / Sq Mi
$153,816
Median Household Income
$93,200
Median Earnings
$2,471
Median Rent
$1,003,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with an in-unit laundry setup, two parking spaces, and access to shared recreation and fitness amenities.
Where is this residential income property located?
The property is located at 1504 LINCOLN WAY Unit 133 Mc Lean, VA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 952‑square‑foot condominium with 2 bedrooms and 2 bathrooms; Covered private balcony and in‑unit washer and dryer; Two parking spaces: one assigned garage space and one surface lot space
