Residential Income Property with
For Sale
$280,000
1931 N CLEVELAND STREET Unit 210, Arlington, VA 22201
Updated kitchen and bath, newer HVAC, and a private patio add practical features to this Arlington condominium.
Property Size649 SF
Price / SF$431.43
Days on Market49
Property Features for 1931 N CLEVELAND STREET Unit 210
General Information
Standard status
Active
Size
649 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Highland
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,758
Amenities
on-site laundry
outdoor patio
walk-in storage unit
Building Details
Building Size
649 SF
Year Built
1960
Listing Agency:
Corcoran McEnearney
Listed By:
Jason Surbey · License #0225230448
(703) 731-8610
Source:
Irvinrealtyllc
Added: Sep 10
Changed: Oct 27
Last Checked: Oct 26 at 8:04PM
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 Corcoran McEnearney
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Investment Insights
Based on property information with market context.
This 649-square-foot condominium in Cleveland House has one bedroom and one bathroom, with a sizable bedroom and a spacious closet. Recent interior work includes COREtec vinyl flooring and fresh paint. The kitchen has quartz countertops, updated cabinets and drawers, and new appliances, while the bathroom has a new vanity, fixtures, flooring, and bathtub. A newer HVAC system, installed in 2021, provides heating and air conditioning. The unit also includes a patio, walk-in storage, and a reserved parking space; visitor parking is available.
The property is at 1931 N Cleveland Street in Arlington, Virginia. Dining and shopping in the Clarendon and Courthouse neighborhoods are blocks away, and the location is described as a short commute to Washington, D.C., the Pentagon, and Tysons. Grocery stores, parks, gyms, Metro stations, and major commuter routes are also cited nearby.
Cleveland House is a pet-friendly condominium community with on-site laundry, updated hallways and elevator, and landscaped grounds.
The property is at 1931 N Cleveland Street in Arlington, Virginia. Dining and shopping in the Clarendon and Courthouse neighborhoods are blocks away, and the location is described as a short commute to Washington, D.C., the Pentagon, and Tysons. Grocery stores, parks, gyms, Metro stations, and major commuter routes are also cited nearby.
Cleveland House is a pet-friendly condominium community with on-site laundry, updated hallways and elevator, and landscaped grounds.
Key Highlights
- 649‑square‑foot, one‑bedroom, one‑bath condominium
- Kitchen updates include quartz countertops, new appliances, and refreshed cabinetry
- Bathroom improvements include a new vanity, fixtures, flooring, and bathtub
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,766
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$195,320
$195.3K
Cap Rate 7%
$139,514
$139.5K
Cap Rate 9%
$108,511
$108.5K
Market Conditions
NOI Build-Up for 649 SF
Gross rent
$18.7K $28.80/SF
− Vacancy
−$935 −$1.44/SF
EGI
$17.8K $27.36/SF
− OpEx
−$8.0K −$12.31/SF
NOI
$9.8K $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%
$195,320
Cap Rate 7%
$139,514
Cap Rate 9%
$108,511
Alternative Uses
Best Use
Apartment 5plus
$139.5K
$122.1K – $162.8K
NOI $9,766 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$360.5K
$315.4K – $420.6K
NOI $25,233 @ 7.0% cap · market cap 9.01%
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
2,712
Businesses Nearby
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Business Placement
Demographics for 22201, VA
39,331
Population
21,787
Households
1.8
Avg Household Size
32
Median Age
86%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
17,100
Density / Sq Mi
$141,736
Median Household Income
$89,508
Median Earnings
$2,468
Median Rent
$760,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated kitchen and bath, newer HVAC, and a private patio add practical features to this Arlington condominium.
Where is this residential income property located?
The property is located at 1931 N CLEVELAND STREET Unit 210 Arlington, 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: 649‑square‑foot, one‑bedroom, one‑bath condominium; Kitchen updates include quartz countertops, new appliances, and refreshed cabinetry; Bathroom improvements include a new vanity, fixtures, flooring, and bathtub
