Two-Level Residential Income
For Sale
$399,999
5975 TERRAPIN PLACE Unit 301C, Alexandria, VA 22310
As-is condo with high ceilings, bright interiors, and generous walk-in closet storage.
Property Size1,184 SF
Days on Market75
Property Features for 5975 TERRAPIN PLACE Unit 301C
General Information
Standard status
Active
Size
1,184 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,767
Building Details
Building Size
1,184 SF
Year Built
1996
Listing Agency:
Real Broker, LLC
Listed By:
Karen Reynoso · License #0225217271
(571) 393-1839
Source:
Dcmetrorealtyteam
Added: Aug 7
Changed: Oct 9
Last Checked: Oct 19 at 12:52PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This two-level condominium was built in 1996 and is offered in as-is condition. The interior includes high ceilings, substantial natural light, and walk-in closets that add practical storage across the living space. The multi-level arrangement provides distinct areas for daily living, work, entertaining, or private use.
The property is near Van Dorn Metro, I-395, and I-495, with access to major commuter routes serving Washington, D.C., employment centers, and Northern Virginia. Shopping, dining, entertainment, parks, and everyday services are available in the nearby Kingstowne area. The residence provides an established layout that can be updated to suit a new owner’s preferences.
The property is near Van Dorn Metro, I-395, and I-495, with access to major commuter routes serving Washington, D.C., employment centers, and Northern Virginia. Shopping, dining, entertainment, parks, and everyday services are available in the nearby Kingstowne area. The residence provides an established layout that can be updated to suit a new owner’s preferences.
Key Highlights
- Two‑level condominium built in 1996
- Sold in as‑is condition
- High ceilings and abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,150
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,000
$363.0K
Cap Rate 7%
$259,286
$259.3K
Cap Rate 9%
$201,667
$201.7K
Market Conditions
NOI Build-Up for 1,184 SF
Gross rent
$34.8K $29.40/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$33.0K $27.87/SF
− OpEx
−$14.8K −$12.54/SF
NOI
$18.1K $15.33/SF
Area
Alexandria, VA
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,000
Cap Rate 7%
$259,286
Cap Rate 9%
$201,667
Alternative Uses
Best Use
Apartment 5plus
$259.3K
$226.9K – $302.5K
NOI $18,150 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$657.6K
$575.4K – $767.2K
NOI $46,034 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 22310, VA
29,611
Population
11,116
Households
2.7
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
6.7 sq mi
ZIP Area
4,420
Density / Sq Mi
$160,872
Median Household Income
$83,668
Median Earnings
$2,396
Median Rent
$627,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - As-is condo with high ceilings, bright interiors, and generous walk-in closet storage.
Where is this residential income property located?
The property is located at 5975 TERRAPIN PLACE Unit 301C Alexandria, VA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Two‑level condominium built in 1996; Sold in as‑is condition; High ceilings and abundant natural light
