Fifth-Floor One-Bedroom Elevator
For Sale
$199,990
Pending
60 VAN DORN Unit 506, Alexandria, VA 22304
One-bedroom, one-bath fifth-floor condo with gas cooking, in-unit washer/dryer, and a private balcony in a condominium with resort-style amenities.
Property Size708 SF
Days on Market16
Property Features for 60 VAN DORN Unit 506
General Information
Standard status
Pending
Size
708 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,281
Amenities
fitness center
2 swimming pools
volleyball court
tennis courts
soccer field
corn hole
2 BBQ areas
dog park
community room
game room
theater room
convenience store
business center with WiFi
in-unit washer/dryer
gas fireplace
private balcony
Building Details
Building Size
708 SF
Year Built
2005
Listing Agency:
Pearson Smith Realty, LLC
(571) 233-9924
Listed By:
Zanne Barber · License #0225238389
(571) 233-9924
Source:
Dcmetrorealtyteam
Added: Jul 30
Changed: Aug 12
Last Checked: Aug 11 at 1:14PM
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 Pearson Smith Realty, LLC
Investment Insights
Based on property information with market context.
Welcome to Unit 506 at West End Condominiums, affectionately nicknamed “The Treehouse.” This fifth-floor elevator condo offers a one-bedroom, one-bath layout designed around an open living space and a private balcony overlooking mature treetops. Measuring 708 square feet, the home includes gas cooking and a gas fireplace, smart storage, and natural light throughout.
Recent updates include new LVP flooring throughout. The unit features newer appliances that are all under two years old, except for the dishwasher, which is four years old. Laundry is convenient with an in-unit combo washer/dryer, and additional building laundry is available. Utilities are included in the condo fee, supporting predictable monthly expenses and low-maintenance living.
Residents enjoy recently remodeled community facilities such as a fitness center, two swimming pools, volleyball court, tennis courts, a soccer field, corn hole, two BBQ areas, “Wiggly Field” dog park, a community room, game room, and theater room. The complex also includes a convenience store, business center with WiFi, off-street parking, and a shuttle to Van Dorn Metro (blue and yellow lines). Built in 2005, the property is located at 60 Van Dorn in Alexandria, with access to shopping, dining, major commuter routes, and nearby destinations including Old Town and future INOVA Alexandria Hospital.
Recent updates include new LVP flooring throughout. The unit features newer appliances that are all under two years old, except for the dishwasher, which is four years old. Laundry is convenient with an in-unit combo washer/dryer, and additional building laundry is available. Utilities are included in the condo fee, supporting predictable monthly expenses and low-maintenance living.
Residents enjoy recently remodeled community facilities such as a fitness center, two swimming pools, volleyball court, tennis courts, a soccer field, corn hole, two BBQ areas, “Wiggly Field” dog park, a community room, game room, and theater room. The complex also includes a convenience store, business center with WiFi, off-street parking, and a shuttle to Van Dorn Metro (blue and yellow lines). Built in 2005, the property is located at 60 Van Dorn in Alexandria, with access to shopping, dining, major commuter routes, and nearby destinations including Old Town and future INOVA Alexandria Hospital.
Key Highlights
- 708‑square‑foot, one‑bedroom, one‑bath fifth‑floor elevator condo with private balcony
- Gas cooking and gas fireplace in an open layout
- New LVP flooring 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
$10,853
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
5.43%
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%
$217,060
$217.1K
Cap Rate 7%
$155,043
$155.0K
Cap Rate 9%
$120,589
$120.6K
Market Conditions
NOI Build-Up for 708 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
$20.8K $29.40/SF
− Vacancy
−$1.1K −$1.53/SF
EGI
$19.7K $27.87/SF
− OpEx
−$8.9K −$12.54/SF
NOI
$10.9K $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 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%
$217,060
Cap Rate 7%
$155,043
Cap Rate 9%
$120,589
Alternative Uses
Best Use
Apartment 5plus
$155.0K
$135.7K – $180.9K
NOI $10,853 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$393.2K
$344.1K – $458.8K
NOI $27,527 @ 7.0% cap · market cap 13.76%
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
1,631
Businesses Nearby
Explore this area
Business Placement
Demographics for 22304, VA
49,237
Population
24,654
Households
2
Avg Household Size
37
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
10,258
Density / Sq Mi
$97,629
Median Household Income
$64,929
Median Earnings
$1,934
Median Rent
$496,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - One-bedroom, one-bath fifth-floor condo with gas cooking, in-unit washer/dryer, and a private balcony in a condominium with resort-style amenities.
Where is this multifamily property located?
The property is located at 60 VAN DORN Unit 506 Alexandria, VA.
What is the asking price?
The asking price for this property is $199,990.
What are key features of this property?
This property features: 708‑square‑foot, one‑bedroom, one‑bath fifth‑floor elevator condo with private balcony; Gas cooking and gas fireplace in an open layout; New LVP flooring throughout
