We aim to equip landlords with the necessary knowledge about the locality, its resident demographics, and attractions to successfully market their properties to potential renters. Let’s delve into the unique appeal of Old Town Alexandria.
Old Town Alexandria has an interesting housing mix where 51% of the homes are occupied by owners and 35% by renters. Typically, each home houses around two residents with the median residency lasting 2.9 years. The annual residential turnover rate is 22%, and interestingly, nearly 10% of households have children.
Being the oldest neighborhood in the City of Alexandria, Old Town carries a rich historical heritage. Its strategic location close to Washington D.C. is a key attraction for many residents. The neighborhood is a designated historic district, brimming with antique shops, art galleries, and historic buildings. The area saw significant economic growth and increased tourism after the King Street Metro station was inaugurated in 1983. Other attractions like the Old Town’s Market Square - one of the oldest continuously operating marketplaces in the U.S., and King Street with its shopping, dining, and entertainment offerings complement Old Town's historic allure.
Old Town Alexandria, being the historic center, entices potential tenants with its quaint shops, waterfront dining establishments, and ample entertainment venues. The cobblestone streets and the grid layout of the neighborhood add a unique charm. Local highlights include the likes of Murphy’s Irish Pub, Bastille, Carlyle Club, Union Street Public House, the Torpedo Factory Art Center, and the scenic Alexandria Waterfront.
Old Town Alexandria is highly walkable, offering residents various local and regional transportation options. The King Street – Old Town Metro station, part of the Blue and Yellow Metro lines, is an accessible transit point. The neighborhood also boasts a nearby train station providing connections to Amtrak and VRE. Other available transit options include Metrobus routes 28A, 29K, 29N, and REX. DASH routes AT2, AT5, AT6, AT7, and AT8 stop in the area along with the King Street Trolley. Car and bike-share programs like Zipcar and Capital Bikeshare are also available for the residents. As per WalkScore.com, Old Town neighborhood has an impressive Walk Score of 86 and a Bike Score of 61 out of 100.
Old Town Alexandria hosts the Old Town Farmers’ Market at Market Square, which holds the distinction of being the oldest farmers' market in the U.S, operating continuously at the same site for over 260 years. The market is open on Saturdays from 7 am to 12 pm, year-round. Another community event that residents look forward to is the Alexandria King Street Art Festival held every September on King Street.
Conclusion: Old Town Alexandria is a vibrant neighborhood steeped in history, making it an attractive locale for potential tenants. Its blend of modern amenities and historic charm uniquely positions it as a desirable place to live. Understanding its distinct features can significantly enhance property management success in the area.
If you're a landlord in Old Town Alexandria, consider leveraging the expertise of a professional property management company. Such services can help you navigate the local rental market, from tenant acquisition to maintenance, easing the stress of property ownership while maximizing your rental income.
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