Two-Bedroom Condo with
For Sale
$215,000
2638 FORT FARNSWORTH ROAD Unit 118, Alexandria, VA 22303
Condo fees include all utilities, and residents have access to a swimming pool and party room.
Property Size950 SF
Days on Market9
Property Features for 2638 FORT FARNSWORTH ROAD Unit 118
General Information
Standard status
Active
Size
950 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,703
Amenities
private balcony
swimming pool
party room
Building Details
Building Size
950 SF
Year Built
1967
Listing Agency:
Century 21 Redwood Realty
Listed By:
WAI LUN L LEUNG · License #0225204506
(571) 497-4607
Source:
Dcmetrorealtyteam
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 5 at 10:22PM
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 Century 21 Redwood Realty
Investment Insights
Based on property information with market context.
This 2-bedroom, 1-bath condo was built in 1967 and includes a private balcony. Carpet extends through the living and bedroom areas, with ceramic tile in the kitchen and marble flooring in the bathroom. The primary bedroom has a built-in bookcase and a walk-in closet with an organizer. Condo fees cover all utilities, and community amenities include a swimming pool and party room.
The property is within walking distance of Huntington Metro, with access to major commuter routes. Old Town Alexandria, Washington, DC, shopping, dining, and employment centers are also identified as nearby destinations.
The property is within walking distance of Huntington Metro, with access to major commuter routes. Old Town Alexandria, Washington, DC, shopping, dining, and employment centers are also identified as nearby destinations.
Key Highlights
- 2‑bedroom, 1‑bath condo with a private balcony
- Within walking distance of Huntington Metro
- Condo fees include all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,563
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,260
$291.3K
Cap Rate 7%
$208,043
$208.0K
Cap Rate 9%
$161,811
$161.8K
Market Conditions
NOI Build-Up for 950 SF
Gross rent
$27.9K $29.40/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$26.5K $27.87/SF
− OpEx
−$11.9K −$12.54/SF
NOI
$14.6K $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%
$291,260
Cap Rate 7%
$208,043
Cap Rate 9%
$161,811
Alternative Uses
Best Use
Apartment 5plus
$208.0K
$182.0K – $242.7K
NOI $14,563 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 17.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 22303, VA
16,109
Population
8,669
Households
1.9
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
1.9 sq mi
ZIP Area
8,478
Density / Sq Mi
$103,822
Median Household Income
$69,699
Median Earnings
$2,050
Median Rent
$547,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo fees include all utilities, and residents have access to a swimming pool and party room.
Where is this residential income property located?
The property is located at 2638 FORT FARNSWORTH ROAD Unit 118 Alexandria, VA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath condo with a private balcony; Within walking distance of Huntington Metro; Condo fees include all utilities
