One-Bedroom Condominium with
For Sale
$209,750
6141 LEESBURG PIKE Unit 404, Falls Church, VA 22041
The unit combines an open layout with an updated kitchen and building amenities including a pool, tennis courts, and elevator service.
Property Size741 SF
Price / SF$283.06
Days on Market158
Property Features for 6141 LEESBURG PIKE Unit 404
General Information
Standard status
Active
Size
741 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,299
Amenities
pool
basketball
on-site management
laundry facilities
tot lot
tennis courts
party/community room
picnic area
balcony
Building Details
Building Size
741 SF
Year Built
1964
Listing Agency:
Gawen Realty, Inc.
Listed By:
Nicholas Lagos · License #0225020817
(703) 538-4994
Source:
Jackrealtygroup
Added: May 24
Changed: Oct 27
Last Checked: Oct 26 at 3:02PM
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 Gawen Realty, Inc.
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Investment Insights
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This 741-square-foot condominium has one bedroom, one bathroom, an open floor plan, and a balcony. Interior updates include a kitchen with granite counters, a gas stove, and a dishwasher, along with a refreshed bathroom. A new HVAC system was installed in August 2022, and the unit offers substantial closet storage and natural light.
The elevator-served building provides a pool, tennis and basketball courts, parking, laundry facilities, a tot lot, picnic space, and a community room. On-site management is also available. The condo fee covers utilities other than cable, internet, and phone service.
The property is near bus service and commuter routes, with East Falls Church Metro, Seven Corners, Bailey’s Crossroads, and Eden Center among the nearby destinations.
The elevator-served building provides a pool, tennis and basketball courts, parking, laundry facilities, a tot lot, picnic space, and a community room. On-site management is also available. The condo fee covers utilities other than cable, internet, and phone service.
The property is near bus service and commuter routes, with East Falls Church Metro, Seven Corners, Bailey’s Crossroads, and Eden Center among the nearby destinations.
Key Highlights
- 741‑square‑foot, one‑bedroom, one‑bathroom condominium with a balcony
- Kitchen features granite counters, a gas stove, and a dishwasher
- HVAC system installed in August 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,092
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,840
$221.8K
Cap Rate 7%
$158,457
$158.5K
Cap Rate 9%
$123,244
$123.2K
Market Conditions
NOI Build-Up for 741 SF
Gross rent
$21.3K $28.80/SF
− Vacancy
−$1.2K −$1.58/SF
EGI
$20.2K $27.22/SF
− OpEx
−$9.1K −$12.25/SF
NOI
$11.1K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,840
Cap Rate 7%
$158,457
Cap Rate 9%
$123,244
Alternative Uses
Best Use
Apartment 5plus
$158.5K
$138.7K – $184.9K
NOI $11,092 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.11M
$2.72M – $3.62M
NOI $217,426 @ 7.0% cap · market cap 103.66%
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
487
Businesses Nearby
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Business Placement
Demographics for 22041, VA
28,039
Population
11,567
Households
2.4
Avg Household Size
36
Median Age
47%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
10,014
Density / Sq Mi
$91,075
Median Household Income
$46,350
Median Earnings
$1,913
Median Rent
$432,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit combines an open layout with an updated kitchen and building amenities including a pool, tennis courts, and elevator service.
Where is this residential income property located?
The property is located at 6141 LEESBURG PIKE Unit 404 Falls Church, VA.
What is the asking price?
The asking price for this property is $209,750.
What are key features of this property?
This property features: 741‑square‑foot, one‑bedroom, one‑bathroom condominium with a balcony; Kitchen features granite counters, a gas stove, and a dishwasher; HVAC system installed in August 2022
