Two-Bedroom Condominium with
For Sale
$375,000
3705 S GEORGE MASON DRIVE Unit 1614S, Falls Church, VA 22041
The unit includes a private garage space, a storage unit, and access to a 24-hour concierge.
Property Size1,372 SF
Price / SF$273.32
Days on Market106
Property Features for 3705 S GEORGE MASON DRIVE Unit 1614S
General Information
Standard status
Active
Size
1,372 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,929
Building Details
Building Size
1,372 SF
Year Built
1975
Listing Agency:
Sherrill Property Group, LLC
Listed By:
Theodora C Poitevin · License #0225096188
(703) 675-4710
Source:
Irvinrealtyllc
Added: Jul 15
Changed: Oct 27
Last Checked: Oct 27 at 3:44AM
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 Sherrill Property Group, LLC
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Investment Insights
Based on property information with market context.
This 1,372-square-foot condominium offers two bedrooms, two bathrooms, an open-plan living area, and a private balcony. Interior features include granite countertops, stainless steel appliances, vinyl plank flooring, updated bathrooms, and a stacked washer and dryer. One garage parking space and a separate storage unit are included.
The building provides 24-hour concierge service, and a Metrobus serves the front lobby. The condo fee covers electricity, heat, air conditioning, water, and trash removal. Major building updates were completed in 2024; the property was built in 1975.
The building provides 24-hour concierge service, and a Metrobus serves the front lobby. The condo fee covers electricity, heat, air conditioning, water, and trash removal. Major building updates were completed in 2024; the property was built in 1975.
Key Highlights
- 1,372‑square‑foot condominium with two bedrooms and two bathrooms
- Private balcony, one garage parking space, and a storage unit
- Granite countertops, stainless steel appliances, and stacked washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,537
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,740
$410.7K
Cap Rate 7%
$293,386
$293.4K
Cap Rate 9%
$228,189
$228.2K
Market Conditions
NOI Build-Up for 1,372 SF
Gross rent
$39.5K $28.80/SF
− Vacancy
−$2.2K −$1.58/SF
EGI
$37.3K $27.22/SF
− OpEx
−$16.8K −$12.25/SF
NOI
$20.5K $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%
$410,740
Cap Rate 7%
$293,386
Cap Rate 9%
$228,189
Alternative Uses
Best Use
Apartment 5plus
$293.4K
$256.7K – $342.3K
NOI $20,537 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.75M
$5.03M – $6.71M
NOI $402,576 @ 7.0% cap · market cap 107.35%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,864
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 - The unit includes a private garage space, a storage unit, and access to a 24-hour concierge.
Where is this residential income property located?
The property is located at 3705 S GEORGE MASON DRIVE Unit 1614S Falls Church, VA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,372‑square‑foot condominium with two bedrooms and two bathrooms; Private balcony, one garage parking space, and a storage unit; Granite countertops, stainless steel appliances, and stacked washer and dryer
