Updated Residential Income
For Sale
$200,000
6621 WAKEFIELD DRIVE Unit 418, Alexandria, VA 22307
Renovated one-bedroom condo in a community with a pool, fitness room, and courts.
Property Size714 SF
Price / SF$280.11
Days on Market50
Property Features for 6621 WAKEFIELD DRIVE Unit 418
General Information
Standard status
Active
Size
714 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,176
Amenities
outdoor pool
exercise room
party room
beauty salon
convenience store
tennis courts
basketball courts
tot lots/playground
picnic area
garden area
lighted parking lots
landscaped common areas
Building Details
Building Size
714 SF
Year Built
1963
Listing Agency:
Keller Williams Fairfax Gateway
Listed By:
Cheryl M Smith · License #0225210148
(703) 598-0979
Source:
Irvinrealtyllc
Added: Sep 9
Changed: Oct 27
Last Checked: Oct 27 at 4:27AM
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 Keller Williams Fairfax Gateway
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Investment Insights
Based on property information with market context.
This 714-square-foot condo in River Towers has one bedroom, one bathroom, and an open common area with multiple closets, including a walk-in closet. Recent interior work includes LVP flooring, quartz kitchen counters and sink, updated bathroom finishes, lighting, paint, and window blinds. The kitchen has solid wood cabinets, a gas stove, range hood, refrigerator, dishwasher, and disposal. The bedroom includes a custom closet organizer.
The condo fee covers gas, electricity, heat, cooled air, sewer, water, trash, and snow removal. Cable and internet are available separately. Community amenities include an outdoor pool, exercise room, party room, beauty salon, convenience store, tennis and basketball courts, playground, picnic area, garden area, and landscaped common areas.
The property is near the Potomac River, GW Parkway, Old Town Alexandria, and the Mt. Vernon Trail, which is two blocks away. Grocery, coffee, retail, and dining options are also accessible in the surrounding area, with access to Route 1, I-395, and I-495.
The condo fee covers gas, electricity, heat, cooled air, sewer, water, trash, and snow removal. Cable and internet are available separately. Community amenities include an outdoor pool, exercise room, party room, beauty salon, convenience store, tennis and basketball courts, playground, picnic area, garden area, and landscaped common areas.
The property is near the Potomac River, GW Parkway, Old Town Alexandria, and the Mt. Vernon Trail, which is two blocks away. Grocery, coffee, retail, and dining options are also accessible in the surrounding area, with access to Route 1, I-395, and I-495.
Key Highlights
- 714‑square‑foot, one‑bedroom, one‑bathroom condo
- Kitchen includes quartz counters, solid wood cabinets, gas stove, range hood, refrigerator, dishwasher, and disposal
- Condo fee covers gas, electricity, heat, cooled air, sewer, water, trash, and snow removal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,945
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$218,900
$218.9K
Cap Rate 7%
$156,357
$156.4K
Cap Rate 9%
$121,611
$121.6K
Market Conditions
NOI Build-Up for 714 SF
Gross rent
$21.0K $29.40/SF
− Vacancy
−$1.1K −$1.53/SF
EGI
$19.9K $27.87/SF
− OpEx
−$9.0K −$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 Rate 5%
$218,900
Cap Rate 7%
$156,357
Cap Rate 9%
$121,611
Alternative Uses
Best Use
Apartment 5plus
$156.4K
$136.8K – $182.4K
NOI $10,945 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 13.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
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 - Renovated one-bedroom condo in a community with a pool, fitness room, and courts.
Where is this residential income property located?
The property is located at 6621 WAKEFIELD DRIVE Unit 418 Alexandria, VA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 714‑square‑foot, one‑bedroom, one‑bathroom condo; Kitchen includes quartz counters, solid wood cabinets, gas stove, range hood, refrigerator, dishwasher, and disposal; Condo fee covers gas, electricity, heat, cooled air, sewer, water, trash, and snow removal
