Three-Bedroom Residential Income
For Sale
$269,000
6641 WAKEFIELD DRIVE Unit 702, Alexandria, VA 22307
The 1,362-square-foot condominium includes three bedrooms, two full bathrooms, and a kitchen with upgraded countertops.
Property Size1,362 SF
Price / SF$197.50
Days on Market34
Property Features for 6641 WAKEFIELD DRIVE Unit 702
General Information
Standard status
Active
Size
1,362 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,362
Amenities
outdoor swimming pool
sport courts
jogging/walking paths
picnic areas
exercise rooms
meeting room
party room
Building Details
Building Size
1,362 SF
Year Built
1963
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Michael C Manuel · License #0225089800
(703) 615-6317
Source:
Irvinrealtyllc
Added: Sep 25
Changed: Oct 26
Last Checked: Oct 26 at 3:36PM
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
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This 1,362-square-foot condominium has three bedrooms, two full bathrooms, and a traditional floor plan with south-facing living and dining areas. The kitchen includes upgraded countertops, a dishwasher, disposal, refrigerator, and gas stove. Neutral carpeting covers original hardwood parquet flooring, which may be exposed and refinished. The unit also has window treatments and ample bedroom closet space.
River Towers offers an outdoor pool, sport courts, walking and jogging paths, picnic areas, exercise rooms, a meeting room, and a party room. Bus stops, metro stations, and the Alexandria Train Station are nearby; Old Town, the Pentagon, Washington, DC, and Reagan National Airport are accessible via the George Washington Parkway. The Potomac River, Belle Haven Marina, grocery stores, restaurants, and other commerce are within walking distance.
The community provides snow removal, trash collection, lawn maintenance, and most utilities through the condominium fee. Unassigned parking is available in the lot, with additional on-street parking options. Built in 1963.
River Towers offers an outdoor pool, sport courts, walking and jogging paths, picnic areas, exercise rooms, a meeting room, and a party room. Bus stops, metro stations, and the Alexandria Train Station are nearby; Old Town, the Pentagon, Washington, DC, and Reagan National Airport are accessible via the George Washington Parkway. The Potomac River, Belle Haven Marina, grocery stores, restaurants, and other commerce are within walking distance.
The community provides snow removal, trash collection, lawn maintenance, and most utilities through the condominium fee. Unassigned parking is available in the lot, with additional on-street parking options. Built in 1963.
Key Highlights
- 1,362‑square‑foot condominium with 3 bedrooms and 2 full bathrooms
- Kitchen features upgraded countertops, dishwasher, disposal, refrigerator, and gas stove
- Original hardwood parquet flooring beneath the carpeting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,878
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,560
$417.6K
Cap Rate 7%
$298,257
$298.3K
Cap Rate 9%
$231,978
$232.0K
Market Conditions
NOI Build-Up for 1,362 SF
Gross rent
$40.0K $29.40/SF
− Vacancy
−$2.1K −$1.53/SF
EGI
$38.0K $27.87/SF
− OpEx
−$17.1K −$12.54/SF
NOI
$20.9K $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%
$417,560
Cap Rate 7%
$298,257
Cap Rate 9%
$231,978
Alternative Uses
Best Use
Apartment 5plus
$298.3K
$261.0K – $348.0K
NOI $20,878 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$756.5K
$661.9K – $882.6K
NOI $52,955 @ 7.0% cap · market cap 19.69%
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
435
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 - The 1,362-square-foot condominium includes three bedrooms, two full bathrooms, and a kitchen with upgraded countertops.
Where is this residential income property located?
The property is located at 6641 WAKEFIELD DRIVE Unit 702 Alexandria, VA.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 1,362‑square‑foot condominium with 3 bedrooms and 2 full bathrooms; Kitchen features upgraded countertops, dishwasher, disposal, refrigerator, and gas stove; Original hardwood parquet flooring beneath the carpeting
