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Property profile & analytics
FOR LEASE
High-rise multifamily apartments
320 23Rd St, Arlington, VA 22202
Entity Owned
4-yr Hold
Free & Clear
Property ID
US87-0629231
For Lease
1 / 2
$5,360,000
320 23Rd St, Arlington, VA 22202
View Listing →
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1971
Total area
53,549 SF
Lot
3.5 ac (152,460 SF)
Zoning code
C-O
APN
34-020-030
UPID
US87-0629231
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bowlero Arlington Bowling Alley
-
Crystal Beauty - Nails & Waxing Salon Nail Salon
-
Vista Medical Center - Crystal City Medical Clinic
-
Commonwealth Medical Center Health
-
HAROON RASHID Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.36M
Owner & transaction history
Buchanan House Associates II LLC · 4 yrs held
Buchanan House Associates II LLC
since 2021
6 recorded transactions
Zoning & alternative use
C-O · Arlington, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Arlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arlington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$100 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$1,895,824
Tax year 2024
Assessed value
$174,182,600
Assessed 2024
Previous assessed
$162,435,200
+7.2% YoY
Effective rate
1.09%
On assessed value
Assessed land
$42,610,700
Assessed improvement
$131,571,900
Land market value
$42,610,700
Improvement market value
$131,571,900
Total market value
$174,182,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
For Lease
Year built
1971
Heating
NONE
Units
455
Total area
53,549 SF
Lot
3.5 ac (152,460 SF)
Zoning code
C-O
APN
34-020-030
UPID
US87-0629231
Jurisdiction
ARLINGTON
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
C-O · Arlington, VA
Zoning C-O · permitted uses
C-O · Arlington, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Arlington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Units
455
Lot
3.5 ac
Current owner
From public records · entity-resolved
Buchanan House Associates II LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1050 17TH ST NW STE #300, WASHINGTON, DC 20036-5538
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2025
—
Buchanan House Associates II LLC
—
Deed
related
$148,340,000 · Newpoint Real Estate Capital LLC
Oct 4, 2021
—
Buchanan House Associates II LLC
Buchanan House Associates LLC
Deed
—
Jan 2, 2019
—
Buchanan House Associates LLC
Jm-ford Buchanan LLC
Quit Claim Deed
related
$23,304 · Metlife Com'l Mtg Originator L
Mar 13, 2012
$175,000,000
Jm-circle Buchanan LLC
Smith Prop Holdings Buchanan H
Grant Deed
$121,130,000 · Grandbridge Real Est Capital
—
—
Buchanan House Associates LLC
—
Loan Modification
related
$23,304 · Metlife Com'l Mtg Originator L
—
—
Archstone Crystal Place LLC
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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