Buy a Two Bedroom Condo in Alexandria for Under $200k

As part of Alexandria’s program to help first-time homebuyers who live or work in Alexandria, two properties near Landmark Mall are now on the market for around $200,000.

One of the homes is a two-bedroom, one-bathroom unit at 14 Canterbury Square, part of the Canterbury Square Condominiums. The home is being offered through the Alexandria Neighborhood Stabilization Program, which acquires and fully renovates distressed properties then sells them to income-eligible, first-time homebuyers. The unit is priced at $197,877.

To be eligible to purchase the Canterbury Square condo, the purchaser must make below 80% of area median income — $68,000 for a one-person household, $77,680 for a two-person household, or $87,360 for a three-person household.

The second home is at 5831 Quantrell Avenue. The home is being offered through the Resale Restricted Homeownership Program. The condominium is three-bedroom and two-bathroom, priced at $211,959.

To qualify for the Quantrell Avenue home, purchasers must make less than 100% of AMI — up to $85,000 for one-person households, up to $97,100 for two-person households, up to $109,000 for three-person households.

There are a variety of other forms of financial assistance available as well, according to a press release from the City of Alexandria.

“Eligible purchasers may receive a City shared equity loan through the City’s Flexible Homeownership Assistance Program,” the press release said. “The homes are also eligible for reduced mortgage interest rate financing through the Virginia Housing Development Authority’s Community Homeownership Revitalization Program (CHRP).”

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