Top-Floor Residential Income
For Sale
$284,900
3203 COMMONWEALTH AVENUE Unit C, Alexandria, VA 22305
A one-bedroom, one-bathroom condo features an open kitchen and living area with updated finishes.
Property Size700 SF
Price / SF$407
Days on Market50
Property Features for 3203 COMMONWEALTH AVENUE Unit C
General Information
Standard status
Active
Size
700 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Potomac West
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,388
Amenities
community laundry
Building Details
Building Size
700 SF
Year Built
1939
Construction
garden-style
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 9
Changed: Oct 27
Last Checked: Oct 26 at 3:53PM
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 top-floor condo in a garden-style community offers 700 square feet, with one bedroom and one bathroom. The kitchen opens to the dining and living areas and includes quartz counters, stainless steel appliances, black cabinetry, a tile backsplash, and an island. Hardwood floors and recessed lighting extend through the home, while the bedroom has an enlarged closet. Two individually controlled heat pump units provide heating and cooling; the living room unit was installed in 2024 and the bedroom unit in 2025. Community laundry is available, and an in-unit washer and dryer connection may be installed with condo association approval. The building dates to 1939.
The property is at 3203 Commonwealth Avenue in Alexandria, near Mount Vernon Avenue’s shops, restaurants, coffee shops, community events, and farmers market. Nearby destinations include Potomac Yard Metro, parks, walking and biking trails, Potomac Yard shopping, and Old Town Alexandria.
The property is at 3203 Commonwealth Avenue in Alexandria, near Mount Vernon Avenue’s shops, restaurants, coffee shops, community events, and farmers market. Nearby destinations include Potomac Yard Metro, parks, walking and biking trails, Potomac Yard shopping, and Old Town Alexandria.
Key Highlights
- 700‑square‑foot, top‑floor condo with one bedroom and one bathroom
- Open kitchen with quartz countertops, stainless steel appliances, and island
- Two individually controlled heat pump units; installed in 2024 and 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,730
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,600
$214.6K
Cap Rate 7%
$153,286
$153.3K
Cap Rate 9%
$119,222
$119.2K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$20.6K $29.40/SF
− Vacancy
−$1.1K −$1.53/SF
EGI
$19.5K $27.87/SF
− OpEx
−$8.8K −$12.54/SF
NOI
$10.7K $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%
$214,600
Cap Rate 7%
$153,286
Cap Rate 9%
$119,222
Alternative Uses
Best Use
Apartment 5plus
$153.3K
$134.1K – $178.8K
NOI $10,730 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$388.8K
$340.2K – $453.6K
NOI $27,216 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,214
Businesses Nearby
Explore this area
Business Placement
Demographics for 22305, VA
17,849
Population
8,028
Households
2.2
Avg Household Size
34
Median Age
59%
College-Educated
83%
High-School Grad
1.3 sq mi
ZIP Area
13,730
Density / Sq Mi
$109,124
Median Household Income
$64,012
Median Earnings
$1,902
Median Rent
$817,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A one-bedroom, one-bathroom condo features an open kitchen and living area with updated finishes.
Where is this residential income property located?
The property is located at 3203 COMMONWEALTH AVENUE Unit C Alexandria, VA.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: 700‑square‑foot, top‑floor condo with one bedroom and one bathroom; Open kitchen with quartz countertops, stainless steel appliances, and island; Two individually controlled heat pump units; installed in 2024 and 2025
