Investment Opportunity: Condo Real Estate for Sale with Established Tenant in Fairfax City. Property Size: 1,200 sq ft. Current Tenant: Bellissimo Italian Cuisine Restaurant - A well-established, prestigious restaurant that has been a staple in Fairfax City for years. This charming restaurant seats 60 people and is renowned for its… Read More high-quality cuisine and loyal clientele. Rent: $5,200/month ($62,400/year). Location: Fairfax City, VA - Ranked among the top 10 safest cities in Virginia, with a population of 25,000 and a median income of $52,000. The area offers a strong and stable business environment. Local Highlights: Fairfax City is home to the historic Fairfax County Courthouse and George Mason University. The city continues to enhance its infrastructure for pedestrians and cyclists, creating a vibrant, community-friendly atmosphere. Notably, both George Washington and George Mason lived in Fairfax, adding historical charm to the area. Key Investment Features: 1031 Tax Deferred Exchange: This property is offered as part of a 1031 Tax Deferred Exchange. Seller Financing: Available for qualified buyers with good credit and a down payment of $800,000. Additional Investment Opportunities: Buildable land options within a 30-45 minute drive, or local residential income-producing properties can be considered as part of the down payment. Showings: By appointment only, with 24-hour notice required. The listing agent must accompany all showings. 1031 Tax Deferred Exchange. For additional info, contact your preferred Real Estate Agent. Read Less
Courtesy of Rodrigo Cruz, Long & Foster Real Estate, Inc. [email protected]
Listing Snapshot
Days Online
16
Last Updated
Property Type
Condominium
Square Ft.
1,141
Year Built
1910
MLS Number
VAFC2005516
30 Days Snapshot Of 22030
$807k
+2%
(avg) sold price
28
-30%
homes sold
15
+15%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Responsibility: Public, City/County, Paved
Building
1,200 net sqft, 1,141 total building sqft, Built in 1910, Major renovation in 2000, 1 unit in building, 2 levels in building, Combination, Mixed
Cooling
Central Air, Electric, Central A/C
Accessibility Features
No Stairs
Expenses
Annual Gross Expense: $9,063, Repair/Maintenance
Floors
Wood
Heating
Natural Gas, Programmable Thermostat, Hot Water
Income
Gross Income: $62,400, Net Operating Income: $53,337
Electric Service: 110 Volts, Hot Water: Electric, Metering: Electric Separate, Gas Separate, Electric Available, Natural Gas Available, Sewer Available, Water Available
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