$775,000 | 2BR / 2BA | 1,125 SF | 3,382 SF LOT | NO HOA

Rare Old Town investment opportunity with an unusually large lot, exceptional Metro access, and multiple ways to monetize the property.

View the listing here: https://www.zillow.com/homedetails/245-Buchanan-St-Alexandria-VA-22314/192120181_zpid/

THE INVESTMENT THESIS: Buy a scarce Old Town property, monetize it as a premium STR for the next few years, and capture potential appreciation + a stronger exit when interest rates decline.

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THE PROPERTY

• Brick end-unit townhouse in Old Town's Parker-Gray Historic District
• 2BR / 2BA, 1,125 SF
• 3,382 SF lot with large fenced side yard
• No HOA
• Hardwood floors, updated kitchen, central A/C
• New roof (2024), water heater (2025)
• Walkable to King Street, restaurants, shops and waterfront

LOCATION IS THE PLAY

~4-minute walk to King St–Old Town Metro, with direct Blue/Yellow Line access into DC.

Guests can stay in historic Old Town while easily reaching:

• Downtown DC
• National Mall & Smithsonian museums
• Arlington National Cemetery
• DC monuments & memorials
• Reagan National Airport

That's a major advantage for both STR guests and medium-term tenants who want Old Town without needing a car.

STR THESIS

Due to the historic setting and proximity to Washington, DC, the local STR market is popular and very active year-round. Current Alexandria STR market data shows approximately $248 ADR / 64% occupancy / $53K+ average annual revenue.

Estimates:

Conservative: ~$45K gross
Base: ~$58K gross
Strong: ~$65K gross
Upside: ~$71K gross

At the $775K asking price, the base case produces approximately $26.6K NOI before debt service, or a ~3.4% cap rate at the base-case NOI

This is not a 10-cap. The investment thesis is different.

VALUE APPRECIATION + HOSPITALITY PLAY

The opportunity is to buy a scarce piece of Old Town, operate it as a premium STR/MTR for several years, build equity through rental income and principal paydown, and then potentially exit when financing conditions improve and buyer demand increases.

If rates come down, the combination of cheaper financing + Old Town scarcity + demonstrated rental income could create a compelling resale opportunity.

And if STR economics change, there's an easy pivot to MTR or LTR.

Asking: $775,000

Serious investors/operators welcome. DM for property details and showing information.