Woodburn Villageis located about where Gallows Road intersects with I-495, tucked behind Fairfax Hospital. It is convenient to major roads like I-495, I-66, Rt-29 and Rt-50. The nearest metro stop is up Gallows Road to the Dunn Loring/Merrifield metro. Metrobus is available from Gallows Road and Fairfax Hospital.
Woodburn Village was built in the late 1960's and is a garden style community. Throughout the community and nestled between the buildings are landscpaed grounds with grill and picnic areas, paly areas and walking paths. There are about 600 condominium units total. Tennis courts, basketball courts and a swimming pool.
The community has 1, 2, 3 and 4 bedroom units. The buildings are 4 stories with a common laundry room and individual storage units in the basement. The reasonable condominium fees include all utilities.
In 2008, a total of 42 units were sold in the MLS. 4 units sold were one bedroom units, 31 units sold were two bedrooms units, 5 units were three bedroom units and 2 four bedroom units sold. The price range of solds start at $118,000 for a 2 bedroom and tops out at a 4 bedroom unit sold for $265,000.
Like most places in the area, the prices have kept dropping steadily over the last few years. There were quite a few foreclosures in 2008. Due to the lower prices and the convenient location the community still offers a great value.
At Woodburn Village a typical rent for a 1 bedroom unit is in the $1,100-$1,200 range and 2 bedrooms at $1,300-$1,400.
For more detailed information on each sale, please click on Sales Details 2008 for Woodburn Village or send me an email at are@tysonsliving.com .
As you can see from the GRM graph - now is a great time to purchase investment real estate. With falling prices, stable/increasing rents and low interest rates the time is better now than in many years.
Are Andresen, Broker
Soldsense - your sixth sense in real estate
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