Residential Income Property with
For Sale
$499,000
203 YOAKUM PARKWAY Unit 1625, Alexandria, VA 22304
Model K residence with renovated kitchen, updated baths, assigned garage parking, and access to extensive community amenities.
Property Size1,621 SF
Price / SF$307.83
Days on Market153
Property Features for 203 YOAKUM PARKWAY Unit 1625
General Information
Standard status
Active
Size
1,621 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,899
Amenities
pool
patio
community center
indoor pool
outdoor pool
indoor tennis court
outdoor tennis court
pickleball court
basketball court
fitness center
sauna
library
party room
putting green
convenience store
restaurant
shuttle bus
gated community
24-hour patrol
intercom system
security cameras
balcony
Building Details
Building Size
1,621 SF
Year Built
1975
Listing Agency:
Samson Properties
Listed By:
Leyi Wang · License #0225212385
(202) 256-0851
Source:
Dcmetrorealtyteam
Added: Apr 9
Changed: Aug 31
Last Checked: Sep 8 at 11:09AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This Model K residential income property offers 3 bedrooms, 2.5 bathrooms, and 1,621 square feet, identified as the largest non-Penthouse floor plan in the community. The kitchen and bathrooms have been renovated with new appliances, modern fixtures, and updated finishes. A private balcony extends the living space, while bedroom windows provide views. Deeded garage parking #158 is located near the elevator, and garage parking and all utilities are included in the association fee.
Watergate at Landmark is a gated 35-acre community in Alexandria with 24-hour patrol services, intercom systems, exterior cameras, landscaped grounds, and a staffed community center. Amenities include indoor and outdoor pools, tennis and pickleball courts, basketball courts, a fitness center with sauna, library, party room, putting green, convenience store, and restaurant. Shuttle service connects the community with Van Dorn metro and local shopping centers, with access to I-395, I-495, I-95, and public transportation nearby.
Watergate at Landmark is a gated 35-acre community in Alexandria with 24-hour patrol services, intercom systems, exterior cameras, landscaped grounds, and a staffed community center. Amenities include indoor and outdoor pools, tennis and pickleball courts, basketball courts, a fitness center with sauna, library, party room, putting green, convenience store, and restaurant. Shuttle service connects the community with Van Dorn metro and local shopping centers, with access to I-395, I-495, I-95, and public transportation nearby.
Key Highlights
- 3 bedrooms, 2.5 bathrooms, and 1,621 square feet in the Model K floor plan
- Renovated kitchen and all bathrooms with brand‑new appliances and updated fixtures
- Deeded garage parking #158 near the elevator
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
$24,849
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
4.98%
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%
$496,980
$497.0K
Cap Rate 7%
$354,986
$355.0K
Cap Rate 9%
$276,100
$276.1K
Market Conditions
NOI Build-Up for 1,621 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
$47.7K $29.40/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$45.2K $27.87/SF
− OpEx
−$20.3K −$12.54/SF
NOI
$24.8K $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 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%
$496,980
Cap Rate 7%
$354,986
Cap Rate 9%
$276,100
Alternative Uses
Best Use
Apartment 5plus
$355.0K
$310.6K – $414.2K
NOI $24,849 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$900.3K
$787.8K – $1.05M
NOI $63,024 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,582
Businesses Nearby
Explore this area
Business Placement
Demographics for 22304, VA
49,237
Population
24,654
Households
2
Avg Household Size
37
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
10,258
Density / Sq Mi
$97,629
Median Household Income
$64,929
Median Earnings
$1,934
Median Rent
$496,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Model K residence with renovated kitchen, updated baths, assigned garage parking, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 203 YOAKUM PARKWAY Unit 1625 Alexandria, VA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3 bedrooms, 2.5 bathrooms, and 1,621 square feet in the Model K floor plan; Renovated kitchen and all bathrooms with brand‑new appliances and updated fixtures; Deeded garage parking #158 near the elevator
