Residential Income Condo with
For Sale
$535,000
3377 LAKESIDE VIEW DRIVE Unit 19-2, Falls Church, VA 22041
Three bedrooms, a den, and shared lakefront amenities provide flexible living across two levels.
Property Size1,421 SF
Price / SF$376.50
Days on Market48
Property Features for 3377 LAKESIDE VIEW DRIVE Unit 19-2
General Information
Standard status
Active
Size
1,421 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,699
Amenities
wood-burning fireplace
private deck
in-unit laundry
private balconies
lakefront pool
tennis courts
dog park
scenic walking path
Building Details
Building Size
1,421 SF
Year Built
1985
Listing Agency:
RLAH @properties
Listed By:
Lisa Dubois-Headley
(703) 350-9595
Source:
Kerishull
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 27 at 1:30AM
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 RLAH @properties
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Investment Insights
Based on property information with market context.
This two-level condominium offers 1,421 SF with three bedrooms, a den, and two full bathrooms. The interior includes a two-story living and dining area, hardwood flooring, vaulted ceilings, a wood-burning fireplace, oversized sliding glass doors, and two private balconies. The kitchen is equipped with granite countertops, stainless steel appliances, a breakfast bar, and in-unit laundry. The primary suite includes a walk-in closet and an ensuite bathroom with dual vanity. Built in 1985, the residence also provides substantial storage and one assigned parking space plus an additional unreserved space.
Water's Edge includes a lakefront pool, tennis courts, a dog park, and a walking path around the lake. The property is near Route 50, I-395, East Falls Church Metro, Arlington, Alexandria, and Washington, DC, with shopping, dining, parks, and recreation nearby.
Water's Edge includes a lakefront pool, tennis courts, a dog park, and a walking path around the lake. The property is near Route 50, I-395, East Falls Church Metro, Arlington, Alexandria, and Washington, DC, with shopping, dining, parks, and recreation nearby.
Key Highlights
- 1,421 SF two‑level condominium with three bedrooms, a den, and two full bathrooms
- Two private balconies, including one accessed from the primary suite
- Two‑story living and dining area with vaulted ceilings and a wood‑burning fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,271
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,420
$425.4K
Cap Rate 7%
$303,871
$303.9K
Cap Rate 9%
$236,344
$236.3K
Market Conditions
NOI Build-Up for 1,421 SF
Gross rent
$40.9K $28.80/SF
− Vacancy
−$2.3K −$1.58/SF
EGI
$38.7K $27.22/SF
− OpEx
−$17.4K −$12.25/SF
NOI
$21.3K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,420
Cap Rate 7%
$303,871
Cap Rate 9%
$236,344
Alternative Uses
Best Use
Apartment 5plus
$303.9K
$265.9K – $354.5K
NOI $21,271 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.96M
$5.21M – $6.95M
NOI $416,953 @ 7.0% cap · market cap 77.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 22041, VA
28,039
Population
11,567
Households
2.4
Avg Household Size
36
Median Age
47%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
10,014
Density / Sq Mi
$91,075
Median Household Income
$46,350
Median Earnings
$1,913
Median Rent
$432,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three bedrooms, a den, and shared lakefront amenities provide flexible living across two levels.
Where is this residential income property located?
The property is located at 3377 LAKESIDE VIEW DRIVE Unit 19-2 Falls Church, VA.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 1,421 SF two‑level condominium with three bedrooms, a den, and two full bathrooms; Two private balconies, including one accessed from the primary suite; Two‑story living and dining area with vaulted ceilings and a wood‑burning fireplace
