Updated Residential Income
For Sale
$485,000
Pending
6537 GRANGE LANE Unit 303, Alexandria, VA 22315
Three-bedroom condominium with lake views, balcony access, fireplace, and a renovated primary bathroom.
Property Size1,280 SF
Days on Market42
Property Features for 6537 GRANGE LANE Unit 303
General Information
Standard status
Pending
Size
1,280 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,294
Amenities
pool
fitness center
tennis court
pickleball court
walking paths
Building Details
Building Size
1,280 SF
Year Built
1997
Listing Agency:
Corcoran McEnearney
Listed By:
Lauren A Bishop · License #0225196839
(202) 361-5079
Source:
Dcmetrorealtyteam
Added: Sep 10
Changed: Oct 6
Last Checked: Oct 21 at 3:56AM
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 Corcoran McEnearney
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Investment Insights
Based on property information with market context.
This updated three-bedroom condominium offers an open arrangement for living and dining, with abundant natural light and a fireplace in the main living area. A private balcony extends the living space toward lake views. The kitchen provides substantial storage and workspace, while the primary suite includes two walk-in closets and a renovated bathroom. A Sunlighten Signature infrared sauna is also available for separate purchase.
Built in 1997, the residence is located in Kingstowne and includes access to two pools, two fitness centers, tennis and pickleball courts, and miles of walking paths. Shops, restaurants, and daily conveniences are nearby, with access to the Franconia-Springfield Metro, Park & Ride, major commuter routes, Old Town Alexandria, and Washington, DC.
Built in 1997, the residence is located in Kingstowne and includes access to two pools, two fitness centers, tennis and pickleball courts, and miles of walking paths. Shops, restaurants, and daily conveniences are nearby, with access to the Franconia-Springfield Metro, Park & Ride, major commuter routes, Old Town Alexandria, and Washington, DC.
Key Highlights
- Three‑bedroom condominium with lake views and a private balcony
- Open living and dining areas with a fireplace and natural light
- Primary suite features two walk‑in closets and a renovated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,621
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,420
$392.4K
Cap Rate 7%
$280,300
$280.3K
Cap Rate 9%
$218,011
$218.0K
Market Conditions
NOI Build-Up for 1,280 SF
Gross rent
$37.6K $29.40/SF
− Vacancy
−$2.0K −$1.53/SF
EGI
$35.7K $27.87/SF
− OpEx
−$16.1K −$12.54/SF
NOI
$19.6K $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%
$392,420
Cap Rate 7%
$280,300
Cap Rate 9%
$218,011
Alternative Uses
Best Use
Apartment 5plus
$280.3K
$245.3K – $327.0K
NOI $19,621 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$710.9K
$622.1K – $829.4K
NOI $49,766 @ 7.0% cap · market cap 10.26%
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
1,277
Businesses Nearby
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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 - Three-bedroom condominium with lake views, balcony access, fireplace, and a renovated primary bathroom.
Where is this residential income property located?
The property is located at 6537 GRANGE LANE Unit 303 Alexandria, VA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Three‑bedroom condominium with lake views and a private balcony; Open living and dining areas with a fireplace and natural light; Primary suite features two walk‑in closets and a renovated bathroom
