Top-Floor Residential Income
For Sale
$423,500
Pending
7507 ASHBY LANE Unit M, Alexandria, VA 22315
Two-bedroom condo features vaulted ceilings, a private balcony, and a wooded setting within Kingstowne.
Property Size1,180 SF
Days on Market51
Property Features for 7507 ASHBY LANE Unit M
General Information
Standard status
Pending
Size
1,180 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,876
Amenities
fireplace
balcony
skylights
community pools
tennis courts
fitness centers
walking trails
Building Details
Building Size
1,180 SF
Year Built
1990
Listing Agency:
Samson Properties
Listed By:
Elizabeth Ann Kline · License #0225219008
(202) 215-8325
Source:
Dcmetrorealtyteam
Added: Sep 5
Changed: Oct 25
Last Checked: Oct 25 at 2:04AM
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 Samson Properties
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Investment Insights
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This top-floor condo in Kingstowne presents a two-bedroom, two-bath layout with vaulted ceilings, skylights, and an open connection between the living and dining areas. The living room includes a fireplace, while the kitchen offers quartz countertops, under-mount lighting, ample cabinetry, and a breakfast bar. The bedrooms are positioned on opposite sides of the living space, and the primary suite includes a private bath and large closet. A balcony faces a wooded area.
Recent improvements include energy-efficient windows installed in 2024, HVAC updated in 2020, a primary bedroom closet completed in 2022, new carpet from 2022, a deck updated in 2022, a hot water heater installed in 2025, and roof and skylight work dated 2026. The residence was built in 1990.
Community amenities include pools, tennis courts, fitness centers, and walking trails. Access to the Fairfax County Parkway, I-95, I-395, I-495, and Franconia-Springfield Metro Station provides connectivity, while Kingstowne Town Center offers nearby shopping, dining, and entertainment.
Recent improvements include energy-efficient windows installed in 2024, HVAC updated in 2020, a primary bedroom closet completed in 2022, new carpet from 2022, a deck updated in 2022, a hot water heater installed in 2025, and roof and skylight work dated 2026. The residence was built in 1990.
Community amenities include pools, tennis courts, fitness centers, and walking trails. Access to the Fairfax County Parkway, I-95, I-395, I-495, and Franconia-Springfield Metro Station provides connectivity, while Kingstowne Town Center offers nearby shopping, dining, and entertainment.
Key Highlights
- Two‑bedroom, two‑bath top‑floor condo with vaulted ceilings and skylights
- Private balcony overlooking a wooded area
- Quartz kitchen countertops, under‑mount lighting, breakfast bar, and ample cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,088
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,760
$361.8K
Cap Rate 7%
$258,400
$258.4K
Cap Rate 9%
$200,978
$201.0K
Market Conditions
NOI Build-Up for 1,180 SF
Gross rent
$34.7K $29.40/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$32.9K $27.87/SF
− OpEx
−$14.8K −$12.54/SF
NOI
$18.1K $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%
$361,760
Cap Rate 7%
$258,400
Cap Rate 9%
$200,978
Alternative Uses
Best Use
Apartment 5plus
$258.4K
$226.1K – $301.5K
NOI $18,088 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$655.4K
$573.5K – $764.6K
NOI $45,878 @ 7.0% cap · market cap 10.83%
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
201
Businesses Nearby
Explore this area
Business Placement
Demographics for 22315, VA
28,184
Population
11,660
Households
2.4
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
5.5 sq mi
ZIP Area
5,124
Density / Sq Mi
$156,230
Median Household Income
$89,478
Median Earnings
$2,396
Median Rent
$609,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo features vaulted ceilings, a private balcony, and a wooded setting within Kingstowne.
Where is this residential income property located?
The property is located at 7507 ASHBY LANE Unit M Alexandria, VA.
What is the asking price?
The asking price for this property is $423,500.
What are key features of this property?
This property features: Two‑bedroom, two‑bath top‑floor condo with vaulted ceilings and skylights; Private balcony overlooking a wooded area; Quartz kitchen countertops, under‑mount lighting, breakfast bar, and ample cabinetry
