Ground-Floor Residential Income
For Sale
$199,500
5006 COLUMBIA PIKE Unit 3, Arlington, VA 22204
End-unit layout, updated kitchen appliances, and designated off-street parking distinguish this ground-level residence.
Property Size690 SF
Price / SF$289.13
Days on Market47
Property Features for 5006 COLUMBIA PIKE Unit 3
General Information
Standard status
Active
Size
690 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Columbia Forest
Public Transit
Yes
Additional Details
HOA Fee
$526
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,250
Amenities
storage bin
snow removal
laundry facilities
common grounds
Building Details
Building Size
690 SF
Year Built
1947
Listing Agency:
Jobin Realty
Listed By:
David L Allen · License #0225061727
(703) 963-7178
Source:
Districtpropertygroup
Added: Sep 12
Changed: Oct 27
Last Checked: Oct 26 at 4:36PM
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 Jobin Realty
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Investment Insights
Based on property information with market context.
This 690-square-foot, ground-floor end unit was built in 1947 and has an open layout connecting the dining area with the rest of the living space. The galley kitchen includes new cabinets, a dishwasher, gas stove, and refrigerator with icemaker. Other interior features include a carpeted bedroom, a large foyer closet, and hardwood flooring in the living room. The unit has one step at entry and designated off-street parking. Basement laundry facilities and a storage bin are also available.
The residence is next to a bus stop, less than ten miles from the airport, and across the street from a community center. Association services include electricity, gas, water, lawn maintenance, and snow removal. The unit has been freshly painted, and its carpet has been cleaned.
The residence is next to a bus stop, less than ten miles from the airport, and across the street from a community center. Association services include electricity, gas, water, lawn maintenance, and snow removal. The unit has been freshly painted, and its carpet has been cleaned.
Key Highlights
- 690‑square‑foot ground‑floor end unit, built in 1947
- Open layout with dining area, carpeted bedroom, large foyer closet, and hardwood living room floor
- Galley kitchen with new cabinets, dishwasher, gas stove, and refrigerator with icemaker
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,383
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$207,660
$207.7K
Cap Rate 7%
$148,329
$148.3K
Cap Rate 9%
$115,367
$115.4K
Market Conditions
NOI Build-Up for 690 SF
Gross rent
$19.9K $28.80/SF
− Vacancy
−$994 −$1.44/SF
EGI
$18.9K $27.36/SF
− OpEx
−$8.5K −$12.31/SF
NOI
$10.4K $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 Rate 5%
$207,660
Cap Rate 7%
$148,329
Cap Rate 9%
$115,367
Alternative Uses
Best Use
Apartment 5plus
$148.3K
$129.8K – $173.1K
NOI $10,383 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$383.2K
$335.3K – $447.1K
NOI $26,827 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,096
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 - End-unit layout, updated kitchen appliances, and designated off-street parking distinguish this ground-level residence.
Where is this residential income property located?
The property is located at 5006 COLUMBIA PIKE Unit 3 Arlington, VA.
What is the asking price?
The asking price for this property is $199,500.
What are key features of this property?
This property features: 690‑square‑foot ground‑floor end unit, built in 1947; Open layout with dining area, carpeted bedroom, large foyer closet, and hardwood living room floor; Galley kitchen with new cabinets, dishwasher, gas stove, and refrigerator with icemaker
