Updated Residential Income
For Sale
$359,990
1701 LAKE SHORE CREST DRIVE Unit 31, Reston, VA 20190
A permitted layout change creates an open interior with hardwood floors, custom built-ins, and a renovated kitchen.
Property Size1,224 SF
Price / SF$294.11
Days on Market131
Property Features for 1701 LAKE SHORE CREST DRIVE Unit 31
General Information
Standard status
Active
Size
1,224 SF
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
$4,700
Building Details
Building Size
1,224 SF
Year Built
1995
Listing Agency:
Ikon Realty
Listed By:
Shivam Vashi · License #0225271666
(703) 628-9475
Source:
Canopy-re
Added: Jun 27
Changed: Nov 2
Last Checked: Nov 3 at 6:10AM
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 Ikon Realty
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Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bathroom condominium offers 1,224 square feet in a layout reconfigured with full approval. Hardwood flooring, custom built-ins, and added cabinetry provide storage throughout. The kitchen has quartz counters, soft-close cabinets, upgraded appliances, and a bar area. The primary bathroom includes custom tile, a rain shower, and dual vanities. A private patio extends the living space outdoors. The unit was built in 1995 and received fresh interior paint in 2026.
Reston Town Center, Reston Library, and Reston Hospital Center are within walking distance. RTC Station is 1 mile away, with access to Fairfax County Parkway and the Dulles Toll Road. The W&OD Trail is also nearby.
Reston Town Center, Reston Library, and Reston Hospital Center are within walking distance. RTC Station is 1 mile away, with access to Fairfax County Parkway and the Dulles Toll Road. The W&OD Trail is also nearby.
Key Highlights
- 1,224‑square‑foot condominium with 2 bedrooms and 2 bathrooms
- Approved floor plan reconfiguration
- Kitchen features quartz counters, soft‑close cabinetry, appliances, and a bar area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,322
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,440
$366.4K
Cap Rate 7%
$261,743
$261.7K
Cap Rate 9%
$203,578
$203.6K
Market Conditions
NOI Build-Up for 1,224 SF
Gross rent
$35.3K $28.80/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$33.3K $27.22/SF
− OpEx
−$15.0K −$12.25/SF
NOI
$18.3K $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%
$366,440
Cap Rate 7%
$261,743
Cap Rate 9%
$203,578
Alternative Uses
Best Use
Apartment 5plus
$261.7K
$229.0K – $305.4K
NOI $18,322 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.13M
$4.49M – $5.99M
NOI $359,149 @ 7.0% cap · market cap 99.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,563
Businesses Nearby
Explore this area
Business Placement
Demographics for 20190, VA
20,957
Population
12,180
Households
1.7
Avg Household Size
40
Median Age
72%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,763
Density / Sq Mi
$126,928
Median Household Income
$83,750
Median Earnings
$2,241
Median Rent
$568,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A permitted layout change creates an open interior with hardwood floors, custom built-ins, and a renovated kitchen.
Where is this residential income property located?
The property is located at 1701 LAKE SHORE CREST DRIVE Unit 31 Reston, VA.
What is the asking price?
The asking price for this property is $359,990.
What are key features of this property?
This property features: 1,224‑square‑foot condominium with 2 bedrooms and 2 bathrooms; Approved floor plan reconfiguration; Kitchen features quartz counters, soft‑close cabinetry, appliances, and a bar area
