This co-op unit is a rare opportunity to live in a great location in Arlington at an extremely affordable price of $33,882. The one-bedroom/one-bath unit, on the second floor in a garden-style apartment, is only two blocks from the Courthouse metro stop and a short distance to many restaurants, shops, and other amenities. It has approximately 600 sq. feet of living space with upgraded stainless steel appliances, hardwood parquet floors, a large walk-in bedroom closet and coat closet in foyer, and individual HVAC with heat pump/central AC.
The unit is part of Colonial Village Commons, a limited-equity cooperative community. The transfer/sale price of this unit is $33,882. There are no closing costs or income limits! The monthly co-op carrying charge for the unit is $1,262. This covers water, sewer, trash, all financial obligations (including property taxes), repairs, and property and grounds maintenance. The only reoccurring costs, other than the monthly co-op charge, are electric and cable/Internet. The co-op does not regularly assess any fees.
A laundry facility is located in the ground floor of same building. Ample zoned street parking is available nearby with an Arlington County permit.
The listed sale price (transfer value) and all future sale prices cannot exceed a value set by the co-op's bylaws, which is adjusted each year based on inflation. Co-op members receive the updated value when they move out and sell. On average, the price has increased $800-$1,000 annually in recent years. The sale price and monthly co-op charge are non-negotiable. Please note that the co-op requires units to be owner occupied and does not permit subletting of units, investors, or dogs.
The unit will be available for move in starting on 3/3.