Residential Income Property with Studio
For Sale
$219,900
906 S WASHINGTON STREET Unit 302, Alexandria, VA 22314
A kitchen with stainless steel appliances and a wine cooler serves the compact studio residence.
Property Size451 SF
Price / SF$487.58
Days on Market75
Property Features for 906 S WASHINGTON STREET Unit 302
General Information
Standard status
Active
Size
451 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Southwest Quadrant
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,364
Amenities
shared laundry area
stainless steel appliances
wine cooler
Building Details
Building Size
451 SF
Year Built
1941
Construction
garden-style
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Aug 15
Changed: Oct 27
Last Checked: Oct 26 at 2:19PM
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 451-square-foot studio condominium was built in 1941 and includes a kitchen with stainless steel appliances and a wine cooler. Laundry is provided in a shared area, and the property is being sold subject to an existing lease.
The residence is in a garden-style community with grassy areas. Metro and bus access, along with nearby shopping and restaurants, provide local transportation and service options.
The residence is in a garden-style community with grassy areas. Metro and bus access, along with nearby shopping and restaurants, provide local transportation and service options.
Key Highlights
- 451‑square‑foot studio condominium
- Sale is subject to an existing lease
- Kitchen includes stainless steel appliances and a wine cooler
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,913
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$138,260
$138.3K
Cap Rate 7%
$98,757
$98.8K
Cap Rate 9%
$76,811
$76.8K
Market Conditions
NOI Build-Up for 451 SF
Gross rent
$13.3K $29.40/SF
− Vacancy
−$689 −$1.53/SF
EGI
$12.6K $27.87/SF
− OpEx
−$5.7K −$12.54/SF
NOI
$6.9K $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%
$138,260
Cap Rate 7%
$98,757
Cap Rate 9%
$76,811
Alternative Uses
Best Use
Apartment 5plus
$98.8K
$86.4K – $115.2K
NOI $6,913 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$250.5K
$219.2K – $292.3K
NOI $17,535 @ 7.0% cap · market cap 7.97%
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
Location Intelligence
Trade Area within ½ mile
1,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 22314, VA
35,784
Population
21,154
Households
1.7
Avg Household Size
39
Median Age
79%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,671
Density / Sq Mi
$144,359
Median Household Income
$98,121
Median Earnings
$2,312
Median Rent
$856,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A kitchen with stainless steel appliances and a wine cooler serves the compact studio residence.
Where is this residential income property located?
The property is located at 906 S WASHINGTON STREET Unit 302 Alexandria, VA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 451‑square‑foot studio condominium; Sale is subject to an existing lease; Kitchen includes stainless steel appliances and a wine cooler
