Two-Bedroom Residential Income
For Sale
$224,888
6621 WAKEFIELD DRIVE Unit 417, Alexandria, VA 22307
Corner-unit windows on two sides bring natural light into the living area.
Property Size959 SF
Price / SF$234.50
Days on Market22
Property Features for 6621 WAKEFIELD DRIVE Unit 417
General Information
Standard status
Active
Size
959 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates and minor repairs
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,770
Amenities
rooftop observation deck
swimming pool
tennis courts
basketball courts
on-site convenience store
abundant parking
Mount Vernon Trail access
Building Details
Building Size
959 SF
Year Built
1963
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Mark S Wilson · License #0225037456
(703) 307-1934
Source:
Irvinrealtyllc
Added: Oct 7
Changed: Oct 27
Last Checked: Oct 27 at 3:14AM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 959-square-foot corner unit has two bedrooms, one full bathroom and one half bath. Windows on two sides bring daylight into the living area. The property was built in 1963, and cosmetic updates and minor repairs are needed. All utilities are included in the condominium fee.
Residents have access to an elevator-served rooftop observation deck with views across the Potomac River toward National Harbor, the Washington Monument, the Masonic Temple and the U.S. Capitol. Community amenities include a swimming pool, tennis and basketball courts, an on-site convenience store and parking. Direct access to the Mount Vernon Trail provides a route for walking and biking.
Residents have access to an elevator-served rooftop observation deck with views across the Potomac River toward National Harbor, the Washington Monument, the Masonic Temple and the U.S. Capitol. Community amenities include a swimming pool, tennis and basketball courts, an on-site convenience store and parking. Direct access to the Mount Vernon Trail provides a route for walking and biking.
Key Highlights
- 959‑square‑foot, two‑bedroom corner unit with 1.5 bathrooms
- Windows on two sides of the living area
- Rooftop observation deck with Potomac River views toward National Harbor and Washington landmarks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,701
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,020
$294.0K
Cap Rate 7%
$210,014
$210.0K
Cap Rate 9%
$163,344
$163.3K
Market Conditions
NOI Build-Up for 959 SF
Gross rent
$28.2K $29.40/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$26.7K $27.87/SF
− OpEx
−$12.0K −$12.54/SF
NOI
$14.7K $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%
$294,020
Cap Rate 7%
$210,014
Cap Rate 9%
$163,344
Alternative Uses
Best Use
Apartment 5plus
$210.0K
$183.8K – $245.0K
NOI $14,701 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$532.7K
$466.1K – $621.4K
NOI $37,286 @ 7.0% cap · market cap 16.58%
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
422
Businesses Nearby
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Business Placement
Demographics for 22307, VA
10,271
Population
4,742
Households
2.2
Avg Household Size
45
Median Age
70%
College-Educated
96%
High-School Grad
3.1 sq mi
ZIP Area
3,313
Density / Sq Mi
$140,559
Median Household Income
$86,082
Median Earnings
$1,906
Median Rent
$752,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner-unit windows on two sides bring natural light into the living area.
Where is this residential income property located?
The property is located at 6621 WAKEFIELD DRIVE Unit 417 Alexandria, VA.
What is the asking price?
The asking price for this property is $224,888.
What are key features of this property?
This property features: 959‑square‑foot, two‑bedroom corner unit with 1.5 bathrooms; Windows on two sides of the living area; Rooftop observation deck with Potomac River views toward National Harbor and Washington landmarks
