Residential Income
For Sale
$280,000
1602 W ABINGDON DRIVE Unit 101, Alexandria, VA 22314
The one-bedroom condominium includes an updated kitchen, in-unit laundry, and access to shared recreational amenities.
Property Size582 SF
Price / SF$481.10
Days on Market70
Property Features for 1602 W ABINGDON DRIVE Unit 101
General Information
Standard status
Active
Size
582 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Northeast
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,356
Amenities
outdoor pool
tennis courts
fitness center
clubhouse
picnic areas
community bike storage
Building Details
Building Size
582 SF
Year Built
1942
Listing Agency:
Serhant
Listed By:
Katherine Massetti · License #0225233021
(703) 261-9260
Source:
Jackrealtygroup
Added: Aug 20
Changed: Oct 27
Last Checked: Oct 26 at 3:02PM
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 Serhant
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Investment Insights
Based on property information with market context.
This 582-square-foot, one-bedroom, one-bathroom condominium was built in 1942. Interior features include a renovated kitchen with white cabinetry, granite counters, stainless steel appliances, and updated flooring, plus a separate dining area. Parquet flooring, fresh paint, a walk-in bedroom closet, and an in-unit washer and dryer complete the unit. The stove was replaced in 2023.
Potowmack Crossing provides residents with an outdoor pool, tennis courts, a fitness center, clubhouse, picnic spaces, shared bike storage, and landscaped courtyards. Shops and restaurants along Slaters Lane and Old Town Alexandria are nearby, as are Potomac Yard Metro, Reagan National Airport, National Landing, and Amazon HQ. Water utilities are included in the condo fee.
Potowmack Crossing provides residents with an outdoor pool, tennis courts, a fitness center, clubhouse, picnic spaces, shared bike storage, and landscaped courtyards. Shops and restaurants along Slaters Lane and Old Town Alexandria are nearby, as are Potomac Yard Metro, Reagan National Airport, National Landing, and Amazon HQ. Water utilities are included in the condo fee.
Key Highlights
- 582‑square‑foot, one‑bedroom, one‑bathroom condominium
- Updated kitchen with granite counters and stainless steel appliances
- In‑unit washer and dryer; walk‑in bedroom closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,922
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$178,440
$178.4K
Cap Rate 7%
$127,457
$127.5K
Cap Rate 9%
$99,133
$99.1K
Market Conditions
NOI Build-Up for 582 SF
Gross rent
$17.1K $29.40/SF
− Vacancy
−$890 −$1.53/SF
EGI
$16.2K $27.87/SF
− OpEx
−$7.3K −$12.54/SF
NOI
$8.9K $15.33/SF
Area
Alexandria, VA
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$178,440
Cap Rate 7%
$127,457
Cap Rate 9%
$99,133
Alternative Uses
Best Use
Apartment 5plus
$127.5K
$111.5K – $148.7K
NOI $8,922 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$323.3K
$282.9K – $377.1K
NOI $22,628 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
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Business Placement
Demographics for 22314, VA
35,784
Population
21,154
Households
1.7
Avg Household Size
39
Median Age
79%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,671
Density / Sq Mi
$144,359
Median Household Income
$98,121
Median Earnings
$2,312
Median Rent
$856,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The one-bedroom condominium includes an updated kitchen, in-unit laundry, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 1602 W ABINGDON DRIVE Unit 101 Alexandria, VA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 582‑square‑foot, one‑bedroom, one‑bathroom condominium; Updated kitchen with granite counters and stainless steel appliances; In‑unit washer and dryer; walk‑in bedroom closet
