Residential Income Property with
For Sale
$390,000
4630 28TH ROAD S Unit B, Arlington, VA 22206
The two-bedroom condominium includes an updated kitchen, in-unit laundry, and access to a community pool.
Property Size800 SF
Price / SF$487.50
Days on Market42
Property Features for 4630 28TH ROAD S Unit B
General Information
Standard status
Active
Size
800 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Neighborhood
Shirlington
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,199
Amenities
outdoor swimming pool
balcony
in-unit washer/dryer
Building Details
Building Size
800 SF
Year Built
1950
Listing Agency:
RE/MAX Allegiance
Listed By:
Keri A O'Sullivan · License #0225062979
(703) 395-4099
Source:
Canopy-re
Added: Sep 17
Changed: Oct 27
Last Checked: Oct 26 at 12:26PM
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 two-bedroom, townhouse-style condominium occupies the second floor and has no unit above. Its layout includes separate living and dining areas, an updated kitchen with quartz counters, a full bathroom, and an outdoor balcony with tree views. Engineered wood flooring spans the main living areas, and the unit includes a washer and dryer. The community has an outdoor pool and off-street parking.
Updates include HVAC, quartz counters, and a washer and dryer in 2025; a refrigerator in 2024; and a microwave and carpet in 2026. The property was built in 1950 and contains 800 square feet.
The home is blocks from Shirlington’s dining, shops, and theater, and one mile from the Shirlington Transit Center. Walking and biking trails and major highways are also nearby.
Updates include HVAC, quartz counters, and a washer and dryer in 2025; a refrigerator in 2024; and a microwave and carpet in 2026. The property was built in 1950 and contains 800 square feet.
The home is blocks from Shirlington’s dining, shops, and theater, and one mile from the Shirlington Transit Center. Walking and biking trails and major highways are also nearby.
Key Highlights
- 800‑square‑foot, two‑bedroom condominium
- Second‑floor unit with a private outdoor balcony and tree views
- Updated kitchen with quartz counters; HVAC and washer/dryer updated in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,038
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,760
$240.8K
Cap Rate 7%
$171,971
$172.0K
Cap Rate 9%
$133,756
$133.8K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$23.0K $28.80/SF
− Vacancy
−$1.2K −$1.44/SF
EGI
$21.9K $27.36/SF
− OpEx
−$9.8K −$12.31/SF
NOI
$12.0K $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%
$240,760
Cap Rate 7%
$171,971
Cap Rate 9%
$133,756
Alternative Uses
Best Use
Apartment 5plus
$172.0K
$150.5K – $200.6K
NOI $12,038 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$444.3K
$388.8K – $518.4K
NOI $31,104 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,023
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
Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom condominium includes an updated kitchen, in-unit laundry, and access to a community pool.
Where is this residential income property located?
The property is located at 4630 28TH ROAD S Unit B Arlington, VA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 800‑square‑foot, two‑bedroom condominium; Second‑floor unit with a private outdoor balcony and tree views; Updated kitchen with quartz counters; HVAC and washer/dryer updated in 2025
