Residential Income Property with
For Sale
$407,500
309 YOAKUM PARKWAY Unit 406, Alexandria, VA 22304
Updated two-bedroom, two-bath residence with an assigned covered garage space and access to extensive community amenities.
Property Size1,309 SF
Price / SF$311.31
Days on Market93
Property Features for 309 YOAKUM PARKWAY Unit 406
General Information
Standard status
Active
Size
1,309 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Landmark/Van Dorn
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,572
Amenities
pools (indoor and outdoor)
tinnis courts
pickle ball courts
hair salon
Market Cafe
car wash area
playground
fittness center
library
game room
storage room
24 hour gated security
private shuttle
Building Details
Building Size
1,309 SF
Year Built
1979
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Jul 28
Changed: Oct 28
Last Checked: Oct 26 at 3:11PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 1,309-square-foot residence has two bedrooms, two full bathrooms, and an eastern-facing balcony. Updates include flooring, carpet, kitchen and bath improvements, and stainless steel appliances. The unit also features walk-in closets and an assigned covered garage parking space. The building dates to 1979, and utilities are included in the condo fee.
Community features include indoor and outdoor pools, tennis and pickleball courts, a fitness center, library, game room, playground, hair salon, café, and car wash area. A private shuttle provides service to the Van Dorn Metro, while gated entry and patrol services are also provided.
Community features include indoor and outdoor pools, tennis and pickleball courts, a fitness center, library, game room, playground, hair salon, café, and car wash area. A private shuttle provides service to the Van Dorn Metro, while gated entry and patrol services are also provided.
Key Highlights
- 1,309‑square‑foot, two‑bedroom, two‑bath residence
- Assigned covered garage parking space
- Eastern‑facing balcony and walk‑in closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,066
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,320
$401.3K
Cap Rate 7%
$286,657
$286.7K
Cap Rate 9%
$222,956
$223.0K
Market Conditions
NOI Build-Up for 1,309 SF
Gross rent
$38.5K $29.40/SF
− Vacancy
−$2.0K −$1.53/SF
EGI
$36.5K $27.87/SF
− OpEx
−$16.4K −$12.54/SF
NOI
$20.1K $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%
$401,320
Cap Rate 7%
$286,657
Cap Rate 9%
$222,956
Alternative Uses
Best Use
Apartment 5plus
$286.7K
$250.8K – $334.4K
NOI $20,066 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$727.1K
$636.2K – $848.2K
NOI $50,894 @ 7.0% cap · market cap 12.49%
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
1,179
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-bedroom, two-bath residence with an assigned covered garage space and access to extensive community amenities.
Where is this residential income property located?
The property is located at 309 YOAKUM PARKWAY Unit 406 Alexandria, VA.
What is the asking price?
The asking price for this property is $407,500.
What are key features of this property?
This property features: 1,309‑square‑foot, two‑bedroom, two‑bath residence; Assigned covered garage parking space; Eastern‑facing balcony and walk‑in closets
