One-Bedroom
For Sale
$205,000
1511 S GEORGE MASON DRIVE Unit 3, Arlington, VA 22204
The association covers all utilities, and residents have access to an outdoor pool, playground, and assigned parking.
Property Size687 SF
Price / SF$298.40
Days on Market32
Property Features for 1511 S GEORGE MASON DRIVE Unit 3
General Information
Standard status
Active
Size
687 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Waycroft - Woodlawn
Highway Access
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$2,282
Amenities
outdoor pool
playground
Building Details
Building Size
687 SF
Year Built
1965
Construction
garden-style
Listing Agency:
Peabody Real Estate LLC
Listed By:
Norval Peabody · License #0225051601
(703) 436-6964
Source:
Mxwrealestate
Added: Sep 30
Changed: Oct 30
Last Checked: Oct 30 at 2:01AM
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 Peabody Real Estate LLC
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Investment Insights
Based on property information with market context.
This condominium in George Mason Village has one bedroom and one bathroom, wood flooring in the living areas and bedroom, and a kitchen equipped for everyday use. Storage includes a walk-in bedroom closet with custom organization and a separate hallway closet. The building dates to 1965.
The community offers an outdoor pool, a playground, and an assigned parking space for the unit. The condominium association covers all utilities.
The property is in Arlington, with Shirlington, Columbia Pike, shopping, dining, parks, and major commuter routes among the nearby destinations named. Washington, DC is also identified as accessible from the community.
The community offers an outdoor pool, a playground, and an assigned parking space for the unit. The condominium association covers all utilities.
The property is in Arlington, with Shirlington, Columbia Pike, shopping, dining, parks, and major commuter routes among the nearby destinations named. Washington, DC is also identified as accessible from the community.
Key Highlights
- One bedroom and one bathroom
- 687 property size
- Built in 1965
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,338
Cap Rate
5.04%
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 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$381.6K
$333.9K – $445.2K
NOI $26,711 @ 7.0% cap · market cap 13.03%
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
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 - The association covers all utilities, and residents have access to an outdoor pool, playground, and assigned parking.
Where is this residential income property located?
The property is located at 1511 S GEORGE MASON DRIVE Unit 3 Arlington, VA.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: One bedroom and one bathroom; 687 property size; Built in 1965
