Updated Condominium with
3713 S GEORGE MASON DRIVE Unit 1506, Falls Church, VA 22041
For Sale
$360,000
Two assigned parking spaces, dedicated storage, and full-service building amenities accompany the residence.
Property Size1,846 SF
Price / SF$195.02
Days on Market293
Property Features for 3713 S GEORGE MASON DRIVE Unit 1506
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Amenities
24-hour staffed front desk
controlled building access
outdoor pool
exercise room
sauna
steam room
resident gathering and recreation spaces
Building Details
Building Size
Year Built
Listing Agency:
Samson Properties
Listed By:
Robert J Chew · License #0225277244
(410) 995-9600
Source:
Mxwrealestate
Added: Jan 20
Changed: Nov 5
Last Checked: Nov 8 at 9:38AM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This 1,395-square-foot condominium at Skyline House has two bedrooms and two bathrooms, with a layout that includes living and dining areas and a covered balcony. The kitchen has white cabinetry, quartz countertops, and stainless steel appliances. Both bathrooms have been updated, and a washer and dryer are included. The residence was built in 1979.
The unit includes two assigned parking spaces: one in the garage and one outdoors. A separate assigned storage unit, #311 in Storage Room 2, is also part of the property. Building amenities include a staffed front desk around the clock, controlled access, an outdoor pool, an exercise room with sauna and steam room, and resident gathering and recreation areas.
Shopping, grocery stores, dining, Metrobus service, and I-395 are nearby. Shirlington, Pentagon City, National Landing, Old Town Alexandria, Reagan National Airport, and Washington, D.C. are within easy reach.
The unit includes two assigned parking spaces: one in the garage and one outdoors. A separate assigned storage unit, #311 in Storage Room 2, is also part of the property. Building amenities include a staffed front desk around the clock, controlled access, an outdoor pool, an exercise room with sauna and steam room, and resident gathering and recreation areas.
Shopping, grocery stores, dining, Metrobus service, and I-395 are nearby. Shirlington, Pentagon City, National Landing, Old Town Alexandria, Reagan National Airport, and Washington, D.C. are within easy reach.
Key Highlights
- 1,395‑square‑foot condominium with 2 bedrooms and 2 bathrooms
- Two assigned parking spaces: one garage space and one outdoor space
- Separate assigned storage unit #311 in Storage Room 2
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,632
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,640
$552.6K
Cap Rate 7%
$394,743
$394.7K
Cap Rate 9%
$307,022
$307.0K
Market Conditions
NOI Build-Up for 1,846 SF
Gross rent
$53.2K $28.80/SF
− Vacancy
−$2.9K −$1.58/SF
EGI
$50.2K $27.22/SF
− OpEx
−$22.6K −$12.25/SF
NOI
$27.6K $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%
$552,640
Cap Rate 7%
$394,743
Cap Rate 9%
$307,022
Alternative Uses
Best Use
Apartment 5plus
$394.7K
$345.4K – $460.5K
NOI $27,632 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.74M
$6.77M – $9.03M
NOI $541,658 @ 7.0% cap · market cap 150.46%
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
1,873
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 - Two assigned parking spaces, dedicated storage, and full-service building amenities accompany the residence.
Where is this residential income property located?
The property is located at 3713 S GEORGE MASON DRIVE Unit 1506 Falls Church, VA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,395‑square‑foot condominium with 2 bedrooms and 2 bathrooms; Two assigned parking spaces: one garage space and one outdoor space; Separate assigned storage unit #311 in Storage Room 2
