Residential Income Property with
For Sale
$560,000
1530 KEY BOULEVARD Unit 531, Arlington, VA 22209
Remodeled one-bedroom residence with garage parking, private storage, and extensive building amenities.
Property Size1,150 SF
Days on Market20
Property Features for 1530 KEY BOULEVARD Unit 531
General Information
Standard status
Active
Size
1,150 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,696
Amenities
24/7 concierge
24 hour security
fitness center
outdoor pool
tennis/pickleball courts
yoga classes
indoor whirlpool jacuzzi
dry sauna
dry cleaning service
community party room
outdoor grilling areas
Building Details
Building Size
1,150 SF
Year Built
1986
Tenancy
Single
Listing Agency:
The Greene Realty Group
(888) 278-5840
Listed By:
Derek J. Greene · License #0225265075
(888) 278-5840
Source:
Kwcapitalproperties
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 25 at 11:41AM
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 The Greene Realty Group
Investment Insights
Based on property information with market context.
Unit 531 at The Atrium is a remodeled one-bedroom, one-bath condominium with a corner layout, private balcony, and floor-to-ceiling windows oriented to southern light. Hardwood flooring, marble finishes in the bathroom and hallway, granite countertops, stainless steel appliances, a full-size washer and dryer, two customized walk-in closets, additional storage closets, and a pantry are included. The property also conveys secure reserved garage parking and a private storage unit.
Building services and amenities include a 24-hour concierge, 24-hour security, fitness center, outdoor pool, private tennis and pickleball courts, yoga classes, indoor whirlpool jacuzzi, dry sauna, dry-cleaning service, party room, and outdoor grilling areas. Premium cable channels and high-speed internet are included in the condo fees.
The property is two blocks from Rosslyn Metro Station, serving the Orange, Blue, and Silver lines, with access to Route 50, I-66, and the George Washington Parkway. Key Bridge connects the area to Georgetown, while bicycle paths provide access to Downtown DC.
Building services and amenities include a 24-hour concierge, 24-hour security, fitness center, outdoor pool, private tennis and pickleball courts, yoga classes, indoor whirlpool jacuzzi, dry sauna, dry-cleaning service, party room, and outdoor grilling areas. Premium cable channels and high-speed internet are included in the condo fees.
The property is two blocks from Rosslyn Metro Station, serving the Orange, Blue, and Silver lines, with access to Route 50, I-66, and the George Washington Parkway. Key Bridge connects the area to Georgetown, while bicycle paths provide access to Downtown DC.
Key Highlights
- Largest one‑bedroom corner floor plan in the building
- Private balcony, secure reserved garage parking, and private storage unit
- Remodeled interior with hardwood flooring, marble finishes, and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,305
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$346,100
$346.1K
Cap Rate 7%
$247,214
$247.2K
Cap Rate 9%
$192,278
$192.3K
Market Conditions
NOI Build-Up for 1,150 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.1K $28.80/SF
− Vacancy
−$1.7K −$1.44/SF
EGI
$31.5K $27.36/SF
− OpEx
−$14.2K −$12.31/SF
NOI
$17.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$346,100
Cap Rate 7%
$247,214
Cap Rate 9%
$192,278
Alternative Uses
Best Use
Apartment 5plus
$247.2K
$216.3K – $288.4K
NOI $17,305 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$638.7K
$558.9K – $745.2K
NOI $44,712 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,973
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled one-bedroom residence with garage parking, private storage, and extensive building amenities.
Where is this residential income property located?
The property is located at 1530 KEY BOULEVARD Unit 531 Arlington, VA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Largest one‑bedroom corner floor plan in the building; Private balcony, secure reserved garage parking, and private storage unit; Remodeled interior with hardwood flooring, marble finishes, and granite countertops
