Updated Apartment
For Sale
$299,900
3242 S 28TH STREET Unit 403, Alexandria, VA 22302
A refreshed two-bedroom residence pairs an island kitchen with balcony access and shared community amenities.
Property Size930 SF
Price / SF$322.47
Days on Market21
Property Features for 3242 S 28TH STREET Unit 403
General Information
Standard status
Active
Size
930 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Alexandria West
Units
Unit Mix
2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,751
Amenities
pool
common grounds
Building Details
Building Size
930 SF
Year Built
1961
Construction
garden-style
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Oct 8
Changed: Oct 26
Last Checked: Oct 26 at 2:53PM
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 930-square-foot apartment has two bedrooms and one bathroom, with updated flooring, recessed lighting, and abundant natural light. The kitchen includes shaker cabinetry, white counters, stainless steel appliances, a tiled backsplash, and a center island with seating. A large balcony extends the living area. The building dates to 1961.
Residents have access to a community pool and landscaped shared grounds. The association covers exterior building maintenance, insurance, lawn care, trash, and water.
Residents have access to a community pool and landscaped shared grounds. The association covers exterior building maintenance, insurance, lawn care, trash, and water.
Key Highlights
- 930‑square‑foot apartment with 2 bedrooms and 1 bathroom
- Kitchen with stainless steel appliances, center island, shaker cabinets, and backsplash
- Large balcony and recessed lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,256
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,120
$285.1K
Cap Rate 7%
$203,657
$203.7K
Cap Rate 9%
$158,400
$158.4K
Market Conditions
NOI Build-Up for 930 SF
Gross rent
$27.3K $29.40/SF
− Vacancy
−$1.4K −$1.53/SF
EGI
$25.9K $27.87/SF
− OpEx
−$11.7K −$12.54/SF
NOI
$14.3K $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%
$285,120
Cap Rate 7%
$203,657
Cap Rate 9%
$158,400
Alternative Uses
Best Use
Apartment 5plus
$203.7K
$178.2K – $237.6K
NOI $14,256 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$516.5K
$452.0K – $602.6K
NOI $36,158 @ 7.0% cap · market cap 12.06%
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
1,793
Businesses Nearby
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Business Placement
Demographics for 22302, VA
17,972
Population
9,660
Households
1.9
Avg Household Size
38
Median Age
70%
College-Educated
93%
High-School Grad
2.3 sq mi
ZIP Area
7,814
Density / Sq Mi
$127,037
Median Household Income
$83,782
Median Earnings
$2,039
Median Rent
$630,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A refreshed two-bedroom residence pairs an island kitchen with balcony access and shared community amenities.
Where is this residential income property located?
The property is located at 3242 S 28TH STREET Unit 403 Alexandria, VA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 930‑square‑foot apartment with 2 bedrooms and 1 bathroom; Kitchen with stainless steel appliances, center island, shaker cabinets, and backsplash; Large balcony and recessed lighting
