Ground-Floor Residential Income
For Sale
$422,000
6916 FAIRFAX DRIVE Unit 116, Arlington, VA 22213
A two-bedroom, one-bath residence pairs a private entry with assigned parking in a covered garage.
Property Size836 SF
Price / SF$504.78
Days on Market35
Property Features for 6916 FAIRFAX DRIVE Unit 116
General Information
Standard status
Active
Size
836 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Arlington - East Falls Church
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
HOA Fee
$437
Taxes and HOA fees
Annual Taxes
$4,183
Amenities
community outdoor area
Building Details
Building Size
836 SF
Year Built
1996
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 24
Changed: Oct 26
Last Checked: Oct 26 at 10:28AM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 836-square-foot, ground-level condominium offers two bedrooms and one bathroom, with a private front entrance and a separate rear exit. The living and dining area connects to a glass-enclosed three-season room, which also opens from the primary bathroom. The bath includes a separate shower and soaking tub, with access from both the hallway and primary bedroom. A second bedroom can also serve as an office. Assigned parking is in the community’s covered garage. The building dates to 1996.
Falls Station is a pet-friendly community near East Falls Church Metro and the W&OD Trail, which runs behind the property. Shops and restaurants are nearby, and I-66 provides access toward downtown Falls Church and Clarendon.
Falls Station is a pet-friendly community near East Falls Church Metro and the W&OD Trail, which runs behind the property. Shops and restaurants are nearby, and I-66 provides access toward downtown Falls Church and Clarendon.
Key Highlights
- 836‑square‑foot condominium with two bedrooms and one bathroom
- Ground‑floor layout with private front and rear entrances
- Glass‑enclosed three‑season room connects to the living and dining area and primary bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,580
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,600
$251.6K
Cap Rate 7%
$179,714
$179.7K
Cap Rate 9%
$139,778
$139.8K
Market Conditions
NOI Build-Up for 836 SF
Gross rent
$24.1K $28.80/SF
− Vacancy
−$1.2K −$1.44/SF
EGI
$22.9K $27.36/SF
− OpEx
−$10.3K −$12.31/SF
NOI
$12.6K $15.05/SF
Area
Arlington, VA
Vacancy
5.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,600
Cap Rate 7%
$179,714
Cap Rate 9%
$139,778
Alternative Uses
Best Use
Apartment 5plus
$179.7K
$157.3K – $209.7K
NOI $12,580 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$464.3K
$406.3K – $541.7K
NOI $32,504 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,211
Businesses Nearby
Explore this area
Business Placement
Demographics for 22213, VA
3,600
Population
1,814
Households
2
Avg Household Size
39
Median Age
75%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
6,000
Density / Sq Mi
$169,201
Median Household Income
$113,971
Median Earnings
$3,501
Median Rent
$1,049,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom, one-bath residence pairs a private entry with assigned parking in a covered garage.
Where is this residential income property located?
The property is located at 6916 FAIRFAX DRIVE Unit 116 Arlington, VA.
What is the asking price?
The asking price for this property is $422,000.
What are key features of this property?
This property features: 836‑square‑foot condominium with two bedrooms and one bathroom; Ground‑floor layout with private front and rear entrances; Glass‑enclosed three‑season room connects to the living and dining area and primary bathroom
