High-Rise Residential Income
For Sale
$249,000
3705 S GEORGE MASON DRIVE Unit 2002S, Falls Church, VA 22041
The residence includes an updated kitchen, in-unit laundry, and a dual-vanity bathroom.
Property Size956 SF
Price / SF$260.46
Days on Market45
Property Features for 3705 S GEORGE MASON DRIVE Unit 2002S
General Information
Standard status
Active
Size
956 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,926
Amenities
convenience store
dry cleaners
hair salon
doctor's office
party room
tot lot
secure bike storage
in-unit washer/dryer
Building Details
Building Size
956 SF
Year Built
1975
Listing Agency:
RE/MAX Allegiance
Listed By:
Elena G Gorbounova · License #0225094246
(703) 625-7888
Source:
Irvinrealtyllc
Added: Sep 14
Changed: Oct 27
Last Checked: Oct 27 at 3:12AM
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 RE/MAX Allegiance
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Investment Insights
Based on property information with market context.
This 956-square-foot residential income property was built in 1975 and features expansive windows with views of Washington, DC landmarks. The updated kitchen has classic cabinetry and stainless steel Kenmore appliances; a Kenmore washer and dryer are also located in the unit. The bathroom includes a dual vanity and updated tilework.
Skyline Plaza offers a convenience store, dry cleaners, hair salon, doctor's office, party room, tot lot, and secure bicycle storage. Metrobus and shuttle service connects the community with the Pentagon and Metro stations. The property is in Bailey's Crossroads, with access to I-395 and I-495 and proximity to Shirlington, Pentagon City, Amazon HQ2, Ballston Quarter, Old Town Alexandria, downtown Washington, DC, Reagan National Airport, and Alexandria Gateway, which includes Harris Teeter and Silver Diner.
Skyline Plaza offers a convenience store, dry cleaners, hair salon, doctor's office, party room, tot lot, and secure bicycle storage. Metrobus and shuttle service connects the community with the Pentagon and Metro stations. The property is in Bailey's Crossroads, with access to I-395 and I-495 and proximity to Shirlington, Pentagon City, Amazon HQ2, Ballston Quarter, Old Town Alexandria, downtown Washington, DC, Reagan National Airport, and Alexandria Gateway, which includes Harris Teeter and Silver Diner.
Key Highlights
- 956‑square‑foot residence built in 1975
- Kitchen has stainless steel Kenmore appliances
- In‑unit Kenmore washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,310
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,200
$286.2K
Cap Rate 7%
$204,429
$204.4K
Cap Rate 9%
$159,000
$159.0K
Market Conditions
NOI Build-Up for 956 SF
Gross rent
$27.5K $28.80/SF
− Vacancy
−$1.5K −$1.58/SF
EGI
$26.0K $27.22/SF
− OpEx
−$11.7K −$12.25/SF
NOI
$14.3K $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%
$286,200
Cap Rate 7%
$204,429
Cap Rate 9%
$159,000
Alternative Uses
Best Use
Apartment 5plus
$204.4K
$178.9K – $238.5K
NOI $14,310 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.01M
$3.51M – $4.68M
NOI $280,512 @ 7.0% cap · market cap 112.66%
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
1,864
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 residence includes an updated kitchen, in-unit laundry, and a dual-vanity bathroom.
Where is this residential income property located?
The property is located at 3705 S GEORGE MASON DRIVE Unit 2002S Falls Church, VA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 956‑square‑foot residence built in 1975; Kitchen has stainless steel Kenmore appliances; In‑unit Kenmore washer and dryer
