Condominium with Private
For Sale
$245,000
4500 S FOUR MILE RUN DRIVE Unit 508, Arlington, VA 22204
The one-bedroom residence includes in-unit laundry, assigned parking, and a separate storage unit.
Property Size604 SF
Price / SF$405.63
Days on Market57
Property Features for 4500 S FOUR MILE RUN DRIVE Unit 508
General Information
Standard status
Active
Size
604 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Columbia Forest
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,557
Amenities
24-hour concierge
outdoor pool
sundeck
fitness center
tennis courts
pickleball courts
clubhouse
billiards room
picnic and grilling areas
extra storage
Four Mile Run Trail
private balcony
in-unit laundry
private storage unit
Building Details
Building Size
604 SF
Year Built
2005
Listing Agency:
Keller Williams Realty
Listed By:
Chaweewan Thongpia · License #0225195796
(703) 707-0334
Source:
Jackrealtygroup
Added: Sep 2
Changed: Oct 27
Last Checked: Oct 26 at 2:18PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
Built in 2005, this 604-square-foot condominium has one bedroom and one bathroom, an open layout, and a private balcony. Interior features include a walk-in closet and in-unit laundry; the residence also comes with assigned parking and a private storage unit. Water is included in the condo fee.
Community amenities include a 24-hour concierge, outdoor pool and sundeck, fitness center, tennis and pickleball courts, clubhouse, billiards room, and picnic and grilling areas. The property has direct access to the Four Mile Run Trail and sits between Shirlington Village and Columbia Pike, with I-395, the Pentagon, National Landing, Reagan National Airport, Metro stations, shopping, dining, and parks among the nearby destinations.
Community amenities include a 24-hour concierge, outdoor pool and sundeck, fitness center, tennis and pickleball courts, clubhouse, billiards room, and picnic and grilling areas. The property has direct access to the Four Mile Run Trail and sits between Shirlington Village and Columbia Pike, with I-395, the Pentagon, National Landing, Reagan National Airport, Metro stations, shopping, dining, and parks among the nearby destinations.
Key Highlights
- 604‑square‑foot, one‑bedroom, one‑bath condominium built in 2005
- Private balcony, walk‑in closet, and in‑unit laundry
- Assigned parking space and private storage unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,089
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$181,780
$181.8K
Cap Rate 7%
$129,843
$129.8K
Cap Rate 9%
$100,989
$101.0K
Market Conditions
NOI Build-Up for 604 SF
Gross rent
$17.4K $28.80/SF
− Vacancy
−$870 −$1.44/SF
EGI
$16.5K $27.36/SF
− OpEx
−$7.4K −$12.31/SF
NOI
$9.1K $15.05/SF
Area
Arlington, VA
Vacancy
5.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$181,780
Cap Rate 7%
$129,843
Cap Rate 9%
$100,989
Alternative Uses
Best Use
Apartment 5plus
$129.8K
$113.6K – $151.5K
NOI $9,089 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$335.5K
$293.6K – $391.4K
NOI $23,484 @ 7.0% cap · market cap 9.59%
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
933
Businesses Nearby
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Business Placement
Demographics for 22204, VA
52,761
Population
24,128
Households
2.2
Avg Household Size
35
Median Age
62%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
12,869
Density / Sq Mi
$109,277
Median Household Income
$73,091
Median Earnings
$1,871
Median Rent
$672,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The one-bedroom residence includes in-unit laundry, assigned parking, and a separate storage unit.
Where is this residential income property located?
The property is located at 4500 S FOUR MILE RUN DRIVE Unit 508 Arlington, VA.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 604‑square‑foot, one‑bedroom, one‑bath condominium built in 2005; Private balcony, walk‑in closet, and in‑unit laundry; Assigned parking space and private storage unit
