1-Bedroom Residential
For Sale
$247,500
704 S ARLINGTON MILL DRIVE Unit 302, Arlington, VA 22204
The unit combines updated kitchen appliances with a private patio and access to community amenities.
Property Size592 SF
Price / SF$418.07
Days on Market48
Property Features for 704 S ARLINGTON MILL DRIVE Unit 302
General Information
Standard status
Active
Size
592 SF
Total Parking Spaces
1
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Neighborhood
Arlington Mill
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$2,647
Amenities
outdoor swimming pool
on-site laundry facilities
additional storage closet
Building Details
Building Size
592 SF
Year Built
1947
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Victoria Giovenco · License #0225209587
(703) 597-0269
Source:
Jackrealtygroup
Added: Sep 11
Changed: Oct 27
Last Checked: Oct 26 at 3:09PM
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 592-square-foot condominium has one bedroom and one bathroom, with hardwood flooring and a kitchen featuring granite countertops. The dishwasher, stove, and disposal were replaced in 2026; the refrigerator was replaced in 2024. A private rear patio faces trees, and the unit includes an additional storage closet.
Residents have access to an outdoor swimming pool and on-site laundry. The condominium fee covers water, sewer, trash removal, common-area maintenance, and one assigned parking space; additional street parking is available. The property is in Arlington, with shopping, dining, commuter routes, and Washington, D.C. noted nearby.
Residents have access to an outdoor swimming pool and on-site laundry. The condominium fee covers water, sewer, trash removal, common-area maintenance, and one assigned parking space; additional street parking is available. The property is in Arlington, with shopping, dining, commuter routes, and Washington, D.C. noted nearby.
Key Highlights
- 592‑square‑foot condominium with one bedroom and one bathroom
- Hardwood flooring and kitchen with granite countertops
- Dishwasher, stove, and disposal replaced in 2026; refrigerator replaced in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,908
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$178,160
$178.2K
Cap Rate 7%
$127,257
$127.3K
Cap Rate 9%
$98,978
$99.0K
Market Conditions
NOI Build-Up for 592 SF
Gross rent
$17.0K $28.80/SF
− Vacancy
−$852 −$1.44/SF
EGI
$16.2K $27.36/SF
− OpEx
−$7.3K −$12.31/SF
NOI
$8.9K $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%
$178,160
Cap Rate 7%
$127,257
Cap Rate 9%
$98,978
Alternative Uses
Best Use
Apartment 5plus
$127.3K
$111.4K – $148.5K
NOI $8,908 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$328.8K
$287.7K – $383.6K
NOI $23,017 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 22204, VA
52,761
Population
24,128
Households
2.2
Avg Household Size
35
Median Age
62%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
12,869
Density / Sq Mi
$109,277
Median Household Income
$73,091
Median Earnings
$1,871
Median Rent
$672,100
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The unit combines updated kitchen appliances with a private patio and access to community amenities.
Where is this residential income property located?
The property is located at 704 S ARLINGTON MILL DRIVE Unit 302 Arlington, VA.
What is the asking price?
The asking price for this property is $247,500.
What are key features of this property?
This property features: 592‑square‑foot condominium with one bedroom and one bathroom; Hardwood flooring and kitchen with granite countertops; Dishwasher, stove, and disposal replaced in 2026; refrigerator replaced in 2024
