Updated Residential Income
For Sale
$395,000
3402 LAKESIDE VIEW DRIVE Unit 13-4, Falls Church, VA 22041
The two-bedroom unit includes a private balcony, fireplace, and in-unit laundry.
Property Size1,049 SF
Price / SF$376.55
Days on Market44
Property Features for 3402 LAKESIDE VIEW DRIVE Unit 13-4
General Information
Standard status
Active
Size
1,049 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,804
Amenities
pool
tennis courts
dog park
fireplace
private balcony
in-unit washer and dryer
Building Details
Building Size
1,049 SF
Year Built
1985
Listing Agency:
KW Metro Center
Listed By:
Lana Beard · License #0225256958
(334) 669-8208
Source:
Canopy-re
Added: Sep 15
Changed: Oct 27
Last Checked: Oct 26 at 3:38PM
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 KW Metro Center
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Investment Insights
Based on property information with market context.
This 1,049-square-foot condominium has two bedrooms and one bathroom, with an open living area beneath vaulted ceilings. Recent interior work includes fresh paint, refinished hardwood floors, new carpet, and new bathroom flooring. The kitchen has ample cabinet and counter space, while the primary bedroom includes a closet and a second vanity sink. A fireplace, private balcony, and in-unit washer and dryer round out the unit. The property was built in 1985.
Community amenities include a pool, tennis courts, and a dog park. The property is near routes 495, 395, and 66, with service on the 4A Metrobus route. Shopping, dining, and entertainment are available at Seven Corners and Bailey's Crossroads.
Community amenities include a pool, tennis courts, and a dog park. The property is near routes 495, 395, and 66, with service on the 4A Metrobus route. Shopping, dining, and entertainment are available at Seven Corners and Bailey's Crossroads.
Key Highlights
- Two‑bedroom, one‑bathroom condo with 1,049 square feet
- Recent updates include fresh paint, refinished hardwood, new carpet, and new bathroom flooring
- Vaulted ceilings, open living area, fireplace, and private balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,702
Cap Rate
3.98%
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 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.40M
$3.85M – $5.13M
NOI $307,800 @ 7.0% cap · market cap 77.92%
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
771
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 - The two-bedroom unit includes a private balcony, fireplace, and in-unit laundry.
Where is this residential income property located?
The property is located at 3402 LAKESIDE VIEW DRIVE Unit 13-4 Falls Church, VA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bathroom condo with 1,049 square feet; Recent updates include fresh paint, refinished hardwood, new carpet, and new bathroom flooring; Vaulted ceilings, open living area, fireplace, and private balcony
