Residential Income Property with
For Sale
$479,999
6519 GRANGE LANE Unit 302, Alexandria, VA 22315
Vacant, freshly painted condo with updated baths, stainless appliances, and convenient access to shopping, dining, and transit.
Property Size1,170 SF
Days on Market185
Property Features for 6519 GRANGE LANE Unit 302
General Information
Standard status
Active
Size
1,170 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,656
Building Details
Building Size
1,170 SF
Year Built
1998
Listing Agency:
M.O. Wilson Properties
Listed By:
Staci M Beach · License #0225070814
(703) 969-1000
Source:
Dcmetrorealtyteam
Added: Apr 24
Changed: Oct 21
Last Checked: Oct 24 at 10:54PM
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 M.O. Wilson Properties
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Investment Insights
Based on property information with market context.
This 1998 residential income property is a vacant condominium offering three bedrooms and two full baths. The interior has been freshly painted and includes durable LVP flooring, a kitchen with granite counters and stainless appliances, a separate dining area, and a living room with a gas fireplace. The primary suite adds a walk-in closet, soaking tub, and tiled walk-in shower, while a private balcony extends the living space outdoors.
The condominium is located within Kingstowne, with shopping, dining, and daily conveniences accessible on foot. Old Town Alexandria and Washington, D.C. are nearby, while I-495, I-395, and I-95 support regional travel. Transit options include Franconia-Springfield Metro Station, Van Dorn Street Metro Station, and Fairfax Connector bus service.
The condominium is located within Kingstowne, with shopping, dining, and daily conveniences accessible on foot. Old Town Alexandria and Washington, D.C. are nearby, while I-495, I-395, and I-95 support regional travel. Transit options include Franconia-Springfield Metro Station, Van Dorn Street Metro Station, and Fairfax Connector bus service.
Key Highlights
- Three‑bedroom, two‑bath condominium
- Vacant and freshly painted throughout
- 1998 construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,935
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,700
$358.7K
Cap Rate 7%
$256,214
$256.2K
Cap Rate 9%
$199,278
$199.3K
Market Conditions
NOI Build-Up for 1,170 SF
Gross rent
$34.4K $29.40/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$32.6K $27.87/SF
− OpEx
−$14.7K −$12.54/SF
NOI
$17.9K $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 Rate 5%
$358,700
Cap Rate 7%
$256,214
Cap Rate 9%
$199,278
Alternative Uses
Best Use
Apartment 5plus
$256.2K
$224.2K – $298.9K
NOI $17,935 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$649.9K
$568.6K – $758.2K
NOI $45,490 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,277
Businesses Nearby
Explore this area
Business Placement
Demographics for 22315, VA
28,184
Population
11,660
Households
2.4
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
5.5 sq mi
ZIP Area
5,124
Density / Sq Mi
$156,230
Median Household Income
$89,478
Median Earnings
$2,396
Median Rent
$609,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Vacant, freshly painted condo with updated baths, stainless appliances, and convenient access to shopping, dining, and transit.
Where is this residential income property located?
The property is located at 6519 GRANGE LANE Unit 302 Alexandria, VA.
What is the asking price?
The asking price for this property is $479,999.
What are key features of this property?
This property features: Three‑bedroom, two‑bath condominium; Vacant and freshly painted throughout; 1998 construction
