Two words: Retirement Community.
The Jefferson is a Sunrise Senior Living Community. It consists of two high-rise condominium towers within a block of the Ballston Commons Mall and Ballston metro, and as such they get plenty of hits from buyers looking for affordable options along the Orange Line in North Arlington.
So why are these condos so cheap? First, you must be 55 or older to purchase there, and all units come with not only a condo fee (about $100-150/month for a 1BR), but a hefty Service Fee which is mandatory for all residents. Service Fees start at approximately $1925/month for a 1BR and can go up to over $3700 for a 2BR/den and even more for larger units.
But the Service Fees, while high, sure make life more comfortable for the Jefferson’s senior residents: it covers one meal a day in the restaurant-style dining room, weekly housekeeping and linen service, scheduled transportation, lifestyle and leisure activities, exercise and wellness programs, an indoor pool, spa and fitness center, and a host of other items.
Condos are available for sale or for rent (from private owners). There are plenty of units available. At the time of this writing, there were 32 units available, ranging from $115,000 (1br/1 ba) to $649,000 (3br/3ba). Be warned though: financing one of these units for purchase is very tricky. And given the amount of inventory available, selling them in certain markets can be quite tricky as well.
Not a senior but still looking for an affordable option along the orange line?
That’s a tall order, but try Colonial Village, Taft Towers, Adams House, the Circle, Cardinal House, or the Chatham.
For more options, drop me an email or give me a call. I’d be happy to talk to you about pricing and options on condos along the orange line, where I live.
If you’re looking to buy a unit at the Jefferson, contact me. I visited this and many other local communities while searching for a home for my own Mom recently and would be happy to share what I learned on my tours.