Are you shopping condos for sale in the City of Alexandria?
Interesting 2 BR Condominium For Sale in Northern Virginia
*** Thermador appliance package upgrade, outdoor summer kitchen and wine frig included in unit 501!*** Introducing MUSE, now selling in presale! New water view mid-rise luxury condominium with 73 total residences & 29 one-of-a-kind floor plans … [Read more]
2 beds, 2 full, 1 part baths
Home size: 1694
Added: 01/13/21, Last Updated: 01/13/2021
Property Type: Unit for Sale
MLS Number: VAAX255012
Subdivision: None Available
List Price: 1991000.00
About this Condominium
- The most common cooling system at 1201 N Royal St #501 is central a/c.
- The average living area at 1201 N Royal St #501 is 2,890 sqft.
- Residents of 1201 N Royal St #501 enjoy additional benefits from this community..
- Almost two thirds of the condos currently on the market at 1201 N Royal St #501 have garage parking.
- Condos at 1201 N Royal St #501 are 31 years old and were built in 1990.
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What is a condo?
A condominium is real estate with certain specific properties. Although there are various types of condominiums, the most common legal arrangements involve individual ownership of each unit, with joint ownership of the communal or common areas by all of the residents in the building. Condominium developments can be commercial or residential.
In the case of residential property, a condo can be composed of one or more a high-rise buildings, garden-style buildings, townhouses and—in special cases–even consist of detached houses. While some condominiums are located in large multi-unit buildings, others may be detached form each other and be located in a gated or planned community. Some condominiums may be located in resort or vacation destinations.
Most usually, a condominium is a housing unit or apartment in a multi-unit building in which each unit is individually owned, with common areas and the property in general jointly owned by the residents and the owners of the building, or all of the residents together. So the structures that make up a condominium complex are divided into living units, which are each owned by individuals. Jointly, these unit owners all have an interest in the rights and duties of the common areas, such as the parking lot, lobby, roof, etc.