Two-Bedroom Residential Income
For Sale
$545,000
4520 36TH STREET S Unit B2, Arlington, VA 22206
Updated two-story condominium with loft space, flexible living areas, and access to a community pool.
Property Size1,092 SF
Price / SF$499.08
Days on Market52
Property Features for 4520 36TH STREET S Unit B2
General Information
Standard status
Active
Size
1,092 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,025
Amenities
pool
Building Details
Building Size
1,092 SF
Year Built
1940
Stories
2
Listing Agency:
Compass
(202) 607-5877
Listed By:
Meredith L Margolis · License #0225180538
(202) 607-5877
Source:
Kerishull
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 11:39AM
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 Compass
Investment Insights
Based on property information with market context.
This 1,092-square-foot condominium offers a two-level layout with 2 bedrooms, 2 full bathrooms, and a loft that adds adaptable interior space. The main floor includes a bedroom, a fully updated bathroom, living and dining areas, and extensive closet storage. Upstairs, the primary suite includes a private bathroom with two sinks and a walk-in closet.
The kitchen has quartz countertops, stainless steel appliances, and a designer backsplash. Built in 1940, the property combines a traditional condominium setting with updated interior finishes and a house-like arrangement. Pool access is included through the condominium association.
The unit is located near Shirlington Village, the Bradlee Center, Fairlington Centre, and the Alexandria Gateway. Outdoor destinations include the W&OD and Four-Mile Run trails, while King Street, Route 7, I-395, and the Pentagon rail station are also nearby.
The kitchen has quartz countertops, stainless steel appliances, and a designer backsplash. Built in 1940, the property combines a traditional condominium setting with updated interior finishes and a house-like arrangement. Pool access is included through the condominium association.
The unit is located near Shirlington Village, the Bradlee Center, Fairlington Centre, and the Alexandria Gateway. Outdoor destinations include the W&OD and Four-Mile Run trails, while King Street, Route 7, I-395, and the Pentagon rail station are also nearby.
Key Highlights
- 1,092 SF condominium with two‑story layout
- 2 bedrooms and 2 full bathrooms, including an upstairs primary suite
- Loft space, multiple closets, and generous storage throughout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,432
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$328,640
$328.6K
Cap Rate 7%
$234,743
$234.7K
Cap Rate 9%
$182,578
$182.6K
Market Conditions
NOI Build-Up for 1,092 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.4K $28.80/SF
− Vacancy
−$1.6K −$1.44/SF
EGI
$29.9K $27.36/SF
− OpEx
−$13.4K −$12.31/SF
NOI
$16.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$328,640
Cap Rate 7%
$234,743
Cap Rate 9%
$182,578
Alternative Uses
Best Use
Apartment 5plus
$234.7K
$205.4K – $273.9K
NOI $16,432 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$606.5K
$530.7K – $707.6K
NOI $42,457 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
Explore this area
Business Placement
Demographics for 22206, VA
21,645
Population
11,851
Households
1.8
Avg Household Size
35
Median Age
76%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
10,307
Density / Sq Mi
$136,472
Median Household Income
$92,948
Median Earnings
$2,332
Median Rent
$569,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-story condominium with loft space, flexible living areas, and access to a community pool.
Where is this residential income property located?
The property is located at 4520 36TH STREET S Unit B2 Arlington, VA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 1,092 SF condominium with two‑story layout; 2 bedrooms and 2 full bathrooms, including an upstairs primary suite; Loft space, multiple closets, and generous storage throughout
