Bought with Queenie Ma • Grace Realty Company
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Key Details
Sold Price $1,826,800
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Subdivision Penrose
MLS Listing ID VAAR2062360
Sold Date 11/24/25
Year Built 1959
Annual Tax Amount $14,054
Tax Year 2025
Lot Size 8,408 Sqft
Acres 0.19
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Prime Multi-Family Investment Opportunity. Fully leased 5-unit garden-style building in sought after Penrose. Excellent upside - potential for added value in converting the garage into an efficiency apartment, and/or modernize the units, to bring the rent up to market rate. Currently leased below comps in the neighborhood. Current NOI of approx. $95,346/yr. (cap rate: 5.31%). Could be ideal for owner occupancy with additional rental apartments. Consisting of 5 apartments – 4 units with 2br./1ba. and 1 unit with 3br./1.5ba. Amenities include 6 off-street parking spaces, laundry room, storage room. Many recent updates (see agent for a full list). The property has been under the same family ownership for over 45 years. Just minutes to the Pentagon, Amazon HQ2, Washington DC, Reagan National Airport. Sold in As-Is condition.
Location
State VA
County Arlington
Zoning RA8-18
Interior
Hot Water 60+ Gallon Tank, Natural Gas
Heating Wall Unit
Cooling Wall Unit
Heat Source Electric
Exterior
Garage Spaces 6.0
Water Access N
Accessibility None
Total Parking Spaces 6
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Alice West Fleet
Middle Schools Jefferson
High Schools Wakefield
School District Arlington County Public Schools
Others
Tax ID 24-029-029
Ownership Fee Simple
Special Listing Condition Standard
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