Top-Floor Residential Income
For Sale
$250,000
922 S WASHINGTON STREET Unit 305, Alexandria, VA 22314
Updated corner unit with courtyard views, hardwood floors, and in-building fitness and bike storage.
Property Size632 SF
Price / SF$395.57
Days on Market14
Property Features for 922 S WASHINGTON STREET Unit 305
General Information
Standard status
Active
Size
632 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Southwest Quadrant
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,058
Amenities
fitness room
bike storage
courtyard grilling
on-site laundry
Building Details
Building Size
632 SF
Year Built
1941
Listing Agency:
EXP Realty, LLC
Listed By:
Christopher Craddock · License #0225207192
(703) 688-2635
Source:
Metrohomesrealtygroup
Added: Oct 15
Changed: Oct 27
Last Checked: Oct 26 at 2:48PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This 632-square-foot top-floor corner unit was built in 1941 and looks onto a landscaped courtyard. Interior features include oak hardwood flooring, decorative moldings, and fresh paint. The kitchen has cherry cabinetry, granite countertops, slate flooring, and GE stainless steel appliances. The bathroom has an updated Kohler vanity and lighting; wall-mounted heating and cooling units and added attic insulation are also in place.
The building provides a fitness room, bicycle storage, courtyard grilling space, and app-operated laundry. A Metro Bus stop is directly outside, and King Street and the Mount Vernon Trail are described as a 10-minute walk away. Balducci's and local dining are nearby, with access to I-95, DCA, the Pentagon, and Washington, DC. Street parking is available.
The building provides a fitness room, bicycle storage, courtyard grilling space, and app-operated laundry. A Metro Bus stop is directly outside, and King Street and the Mount Vernon Trail are described as a 10-minute walk away. Balducci's and local dining are nearby, with access to I-95, DCA, the Pentagon, and Washington, DC. Street parking is available.
Key Highlights
- 632‑square‑foot top‑floor corner unit with courtyard views
- 1941 construction
- Kitchen features cherry cabinets, granite counters, slate floors, and GE stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,688
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$193,760
$193.8K
Cap Rate 7%
$138,400
$138.4K
Cap Rate 9%
$107,644
$107.6K
Market Conditions
NOI Build-Up for 632 SF
Gross rent
$18.6K $29.40/SF
− Vacancy
−$966 −$1.53/SF
EGI
$17.6K $27.87/SF
− OpEx
−$7.9K −$12.54/SF
NOI
$9.7K $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%
$193,760
Cap Rate 7%
$138,400
Cap Rate 9%
$107,644
Alternative Uses
Best Use
Apartment 5plus
$138.4K
$121.1K – $161.5K
NOI $9,688 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$351.0K
$307.2K – $409.5K
NOI $24,572 @ 7.0% cap · market cap 9.83%
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
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 - Updated corner unit with courtyard views, hardwood floors, and in-building fitness and bike storage.
Where is this residential income property located?
The property is located at 922 S WASHINGTON STREET Unit 305 Alexandria, VA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 632‑square‑foot top‑floor corner unit with courtyard views; 1941 construction; Kitchen features cherry cabinets, granite counters, slate floors, and GE stainless steel appliances
