13161 Fox Hunt Ln, Herndon, VA 20171
Opportunity To Acquire a Highly Amenitized 244-Unit Garden Style Community in The Rapidly Growing Reston-Herndon Corridor With 100% of Units Offering Substantial Value-Add Upside
Executive Summary
Berkadia is pleased to present the sale of The Point at Herndon (the “Property”), a 244-unit apartment community built in 2004 and currently 98% occupied, located in the heart of the rapidly growing Reston–Herndon corridor. The Property offers spacious living spaces with an average unit size of 941 square feet and 100% of units offering value-add potential, including 17% lightly renovated between 2019–2022 achieving average premiums of approximately $270 over classic units.
The Property is ideally located less than a 10-minute drive from Reston Town Center and within a 15-minute walk to both the Herndon and Innovation Center Metro Stations (Silver Line), providing residents with convenient access to one of Northern Virginia’s premier destinations for retail, dining, and employment, as well as strong regional connectivity throughout the Washington, D.C. metro area. Additionally, Dulles International Airport is accessible within a 10-minute drive, further enhancing both local and national accessibility. The Property is served by Fairfax County Public Schools and is adjacent to McNair Elementary School. Both the District (Fairfax County) and the school (McNair Elementary) received an A-rating by Niche in 2026.
The Point at Herndon is surrounded by a highly amenitized and economically vibrant environment, anchored by major employers including Fannie Mae (636K SF), Leidos (265K SF), and Volkswagen (197K SF), and supported by over 31M SF of office and 4M SF of retail within a 3-mile radius. Additionally, Point at Herndon is just a 5-minute walk to Village Center at Dulles featuring a Giant, Starbucks, and 50+ local and national retailers. The immediate3-mile submarket is supported by strong demographics, including an average household income of $169K, 62% of residents holding a bachelor’s degree or higher, and a median age of 35.7. Coupled with continued population and employment growth, the Property is well-positioned to benefit from sustained demand.
The Point at Herndon presents a highly-attractive opportunity to acquire a high-quality, well-performing asset with significant in-unit value-add upside at a substantial discount to replacement cost in one of Virginia’s most coveted submarkets.
Investment Highlights
EXCEPTIONAL PROPERTY PERFORMANCE
The Point at Herndon is 98% occupied and has achieved 4.91% average increases over their last 15 leases (renewals and new leases). Additionally, the Property has achieved 4.1% average increase on forward-looking renewals through September.
PROXIMATE TO ALL NORTHERN VA EMPLOYMENT HUBS
Situated within the Dulles Tech Corridor (40M square foot office), a 15-minute drive to Tysons Corner (32M square foot office), and a 20-minute drive to the Rosslyn-Ballston Corridor (20M square foot office), residents have immediate access to Northern Virginia’s employment corridors.
OUTSTANDING RENTER DEMOGRAPHICS
Positioned in one of Virginia’s most robust submarkets, the surrounding community features an average household income of $169,000, with 62% of residents holding a bachelor’s degree or higher and a median age of 35.7 within a 3-mile radius (CoStar, 2026).
IDEAL TRANSIT CONNECTIVITY
The Property is walkable to both the Herndon and Innovation Center Metro Stations (Silver Line) and is conveniently located adjacent to the Dulles Toll Road, both of which position renters to have premier accessibility to the full suite of Northern Virginia’s employment drivers.
STRONG LOCAL EMPLOYERS
The Point at Herndon is located just minutes from major corporate headquarters, including Fannie Mae (636K square feet), Leidos (265K square feet), and Volkswagen (197K square feet) and supported by over 31M square feet of office and 4M square feet of retail within a three-mile radius, as well as a diverse mix of additional leading employers in the surrounding area.
VALUE-ADD ON 100% OF UNITS
The Property offers value-add upside on 100% of its units. Ownership has lightly renovated 42 units, achieving average rental premiums of $270 over classic units. The Point at Herndon is ideally positioned to unlock additional premiums with the proposed next generation renovation, alongside organic rent growth in the submarket.
LIVE, WORK, PLAY DESTINATION
The Property is just a short drive from the Reston Town Center, offering an exciting mix of shopping, dining, and entertainment. The location places residents close to major employment hubs, cultural attractions, and convenient commuter connections.
TOP RATED SCHOOL DISTRICT
Fairfax County Public Schools, rated A by Niche, is among the Nation’s top districts, being ranked as the 7th best district in Virginia and receiving an A+ grade for college preparation. The Property is also adjacent to McNair Elementary, which received an A-rating by Niche, further reinforcing its appeal to family-oriented renters.
Unmatched Location
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Contact
Office
DC Metro
4445 Willard Ave., Suite 1200
Chevy Chase, MD 20815
Investment Sales
BRIAN CRIVELLA
Senior Managing Director
301.580.6685
[email protected]
YALDA GHAMARIAN
Managing Director
240.462.2332
[email protected]
BILL GRIBBIN
Managing Director
301.580.6486
[email protected]
JACK CANEPA
Associate Director
301.941.4629
[email protected]
Mortgage Banking
PATRICK MCGLOHN
Senior Managing Director
301.941.4610
[email protected]
BRIAN GOULD
Managing Director
301.941.4616
[email protected]
13161 Fox Hunt Ln, Herndon, VA 20171
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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