8950 Hooes Rd Lorton, VA 22079

Property Details for 8950 Hooes Rd

Year built

1925

Lot size

3.00 lot acres

Property size

4,142 SF

Property type

Residential income homes

Description

This exceptional investment opportunity in Lorton, Virginia, presents a unique blend of immediate rental income and significant future development potential. The property encompasses a beautifully renovated 4,142 square foot single-family home currently leased until November 30, 2025, generating $4,500 in monthly rent. The home, meticulously updated in 2023, boasts five bedrooms, three full baths, one half-bath, and four original fireplaces, all situated on a picturesque three-acre lot. Improvements include new roofing, siding, flooring, kitchen, bathrooms, doors, windows, and garage, representing approximately $400,000 in recent renovations. A 400 square foot storage shed adds further utility. Beyond the existing residence, the property offers a fully prepared subdivision plan for three lots, ready for county submission. This R-1 zoned land allows for the construction of two additional single-family homes, each approximately 5,000 square feet. Over $150,000 has already been invested in engineering and subdivision preparation, with all necessary documents readily available. Post-subdivision, the property's appraised value is projected to exceed $1.8 million, with potential to surpass $4 million following the construction of the new homes. This fee-simple ownership offers a compelling combination of immediate cash flow and substantial long-term appreciation. The property's location in Fairfax County, VA, zip code 22079, provides convenient access to local amenities and transportation. This turnkey investment is ideal for discerning buyers seeking a high-return opportunity with a blend of historical charm and modern convenience. The NOI is $54,000, with a 4.52% cap rate and a price per square foot of $288.51. The asking price is $1,195,000.