One-Bedroom Residential Condo with
For Sale
$220,000
1511 S GEORGE MASON DRIVE Unit 23, Arlington, VA 22204
A 1965-built home combines a private outdoor space with access to a community pool.
Property Size687 SF
Price / SF$320.23
Days on Market38
Property Features for 1511 S GEORGE MASON DRIVE Unit 23
General Information
Standard status
Active
Size
687 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Waycroft - Woodlawn
Highway Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,282
Amenities
community pool
private balcony
Building Details
Building Size
687 SF
Year Built
1965
Listing Agency:
Samson Properties
Listed By:
Jada Vanessa Aristilde · License #0225264843
(703) 496-6212
Source:
Jackrealtygroup
Added: Sep 21
Changed: Oct 27
Last Checked: Oct 26 at 2:34PM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This residential income property is a one-bedroom, one-bathroom condominium with 687 square feet of living space. Its layout includes a private balcony, and the George Mason Village community has a pool. The building dates to 1965.
The property is on S George Mason Drive in Arlington, Virginia. Columbia Pike, Route 7, and I-395 are identified as nearby commuter routes. Shopping, dining, grocery stores, and parks are also described in the surrounding area.
The property is on S George Mason Drive in Arlington, Virginia. Columbia Pike, Route 7, and I-395 are identified as nearby commuter routes. Shopping, dining, grocery stores, and parks are also described in the surrounding area.
Key Highlights
- One bedroom and one bathroom in 687 square feet
- Private balcony
- Community pool at George Mason Village
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,338
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,760
$206.8K
Cap Rate 7%
$147,686
$147.7K
Cap Rate 9%
$114,867
$114.9K
Market Conditions
NOI Build-Up for 687 SF
Gross rent
$19.8K $28.80/SF
− Vacancy
−$989 −$1.44/SF
EGI
$18.8K $27.36/SF
− OpEx
−$8.5K −$12.31/SF
NOI
$10.3K $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%
$206,760
Cap Rate 7%
$147,686
Cap Rate 9%
$114,867
Alternative Uses
Best Use
Apartment 5plus
$147.7K
$129.2K – $172.3K
NOI $10,338 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$381.6K
$333.9K – $445.2K
NOI $26,711 @ 7.0% cap · market cap 12.14%
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
Location Intelligence
Trade Area within ½ mile
1,619
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 - A 1965-built home combines a private outdoor space with access to a community pool.
Where is this residential income property located?
The property is located at 1511 S GEORGE MASON DRIVE Unit 23 Arlington, VA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: One bedroom and one bathroom in 687 square feet; Private balcony; Community pool at George Mason Village
