Residential Income Property with
For Sale
$389,000
3401 LAKESIDE VIEW DRIVE Unit 18-3, Falls Church, VA 22041
Two-bedroom condo with a private patio, fireplace, and access to shared pool and tennis facilities.
Property Size1,049 SF
Price / SF$370.83
Days on Market73
Property Features for 3401 LAKESIDE VIEW DRIVE Unit 18-3
General Information
Standard status
Active
Size
1,049 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,836
Amenities
fireplace
walk-in closet
private patio
stainless steel appliances
outdoor pool
tennis courts
sidewalks with street lights
Building Details
Building Size
1,049 SF
Year Built
1985
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: Aug 17
Changed: Oct 27
Last Checked: Oct 26 at 11:26AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This two-bedroom condo offers 1,049 square feet of living space and was built in 1985. Interior features include a fireplace, walk-in closet, and kitchen equipped with stainless steel appliances, a built-in microwave, and dishwasher. A private patio extends the living area outdoors.
Residents have access to an outdoor pool, tennis courts, and sidewalks with street lighting. The property is approximately 300 feet from a lake. Association services include lawn maintenance and trash removal.
Residents have access to an outdoor pool, tennis courts, and sidewalks with street lighting. The property is approximately 300 feet from a lake. Association services include lawn maintenance and trash removal.
Key Highlights
- Two‑bedroom condo with 1,049 square feet of living space
- Built in 1985
- Fireplace, walk‑in closet, and kitchen with stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,702
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,040
$314.0K
Cap Rate 7%
$224,314
$224.3K
Cap Rate 9%
$174,467
$174.5K
Market Conditions
NOI Build-Up for 1,049 SF
Gross rent
$30.2K $28.80/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$28.5K $27.22/SF
− OpEx
−$12.8K −$12.25/SF
NOI
$15.7K $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%
$314,040
Cap Rate 7%
$224,314
Cap Rate 9%
$174,467
Alternative Uses
Best Use
Apartment 5plus
$224.3K
$196.3K – $261.7K
NOI $15,702 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.40M
$3.85M – $5.13M
NOI $307,800 @ 7.0% cap · market cap 79.13%
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
870
Businesses Nearby
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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 - Two-bedroom condo with a private patio, fireplace, and access to shared pool and tennis facilities.
Where is this residential income property located?
The property is located at 3401 LAKESIDE VIEW DRIVE Unit 18-3 Falls Church, VA.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Two‑bedroom condo with 1,049 square feet of living space; Built in 1985; Fireplace, walk‑in closet, and kitchen with stainless steel appliances
