Zumper
modified
3 Days Ago

Highlights

  • Modern amenities
  • On-site laundry facilities
  • Cable ready
  • On-site maintenance
  • High-speed internet
  • Extra storage options

Location

500 S Walter Reed Dr, Arlington, VA 22204, USA|Penrose
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Contact

Management

KNOX PROPERTIES LLC

Leasing office

(703) 920-4000

Property Overview

Walter Reed Apartments offers everyday conveniences like on-site and off-street parking, bike storage, additional storage, hardwood flooring, and on-premises laundry facilities. It is also located close to top-rated elementary, middle, and high schools, making daily commutes to nearby education options especially convenient.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.4
Very Good
With a solid 8.4 out of 10 overall, Walter Reed Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Walter Reed Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • High school nearby
  • Middle school nearby
  • Elementary school nearby

Floor plans

1BR/1.0BA1 bed1 bath700 sqft$1,700 /mo1 unit availableWelcome to Walter Reed Apartments in Arlington, VA! Our recently updated building offers modern amenities and conveniences for our residents. Enjoy the convenience of reserved and open parking, on-site laundry facilities, and on-site maintenance for any issues that may arise. With flexible payment options through FLEX and the ability to report rent and build credit with IDIQ, we make renting easy and stress-free. Take advantage of our open green communal spaces for outdoor relaxation, high-speed internet for all your connectivity needs, and public transportation just steps away for easy commuting. Each apartment features separate heating and AC, extra storage options, beautiful hardwood floors, and is cable ready for your entertainment needs. Come experience the comfort and convenience of Walter Reed Apartments today! Prices and special offers valid for new residents only. Pricing and availability subject to change at any time. Don't delay or you will miss out...call us today! Ask about our Holiday Deal! Limited Time Only!

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Policies and fees

Applicants

Applicants

One-time.

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REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property
Building details

Property details

Units21
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About Walter Reed Apartments

HomeApartments in ArlingtonPenrose Walter Reed Apartments

Welcome to Walter Reed Apartments in Arlington, VA! Our recently updated building offers modern amenities and conveniences for our residents. Enjoy the convenience of reserved and open parking, on-site laundry facilities, and on-site maintenance for any issues that may arise. With flexible payment options through FLEX and the ability to report rent and build credit with IDIQ, we make renting easy and stress-free. Take advantage of our open green communal spaces for outdoor relaxation, high-speed internet for all your connectivity needs, and public transportation just steps away for easy commuting. Each apartment features separate heating and AC, extra storage options, beautiful hardwood floors, and is cable ready for your entertainment needs. Come experience the comfort and convenience of Walter Reed Apartments today! Prices and special offers valid for new residents only. Pricing and availability subject to change at any time. Don't delay or you will miss out...call us today! Ask about our Holiday Deal! Limited Time Only!


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.4
/10
Very Good
With a solid 8.4 out of 10 overall, Walter Reed Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Walter Reed Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated Walter Reed Apartments
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Walter Reed Apartments offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, Walter Reed Apartments is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Walter Reed Apartments is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Walter Reed Apartments does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How Walter Reed Apartments compares to other nearby properties.

Positives

High school nearby
There is a high school 0.2 mile away
Middle school nearby
There is a middle school 1 mile away
Elementary school nearby
There is an elementary school 0.2 mile away
Less expensive
The 1-bedrooms are cheaper than other similar listings nearby

Considerations

Grow a garden indoors
A balcony, backyard, or shared outdoor space isn't available
Lacks images
Fewer than 10 photos available for this location
No in-unit dishwasher
Dishwashers aren't available

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Rent trends in Penrose

1-bedroom apartments at Walter Reed Apartments cost about 23% less than the average rent price for 1-bedroom apartments in Penrose.

Median rents as of May 16 2026.
Penrose
Arlington
A table of 1-bedroom apartment rental data trends in Arlington
MonthMedian Rent
June 2024$2,414
July 2024$2,418
August 2024$2,425
September 2024$2,422
October 2024$2,400
November 2024$2,357
December 2024$2,407
January 2025$2,438
February 2025$2,478
March 2025$2,523
April 2025$2,531
May 2025$2,483
June 2025$2,433
July 2025$2,372
August 2025$2,365
September 2025$2,342
October 2025$2,349
November 2025$2,316
December 2025$2,323
January 2026$2,337
February 2026$2,388
March 2026$2,435
April 2026$2,439
May 2026$2,406
A table of 1-bedroom apartment rental data trends in Penrose
MonthMedian Rent
June 2024$1,800
July 2024$1,900
August 2024$1,725
September 2024$1,740
October 2024$1,781
November 2024$1,745
December 2024$1,700
January 2025$1,700
April 2025$2,290
May 2025$2,351
June 2025$2,171
July 2025$2,042
August 2025$1,951
September 2025$1,996
October 2025$2,058
November 2025$2,072
December 2025$2,100
January 2026$2,093
February 2026$2,076
March 2026$2,127
April 2026$2,130
May 2026$2,163

Affordability calculator

Can I afford to live at 500 S Walter Reed Dr?

Bedrooms

1 bedroom

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$68,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $68,000 annually to afford this 1-bedroom monthly rent price of $1,700.
For more information on rent affordability, visit our rent calculator.

Schools near Walter Reed Apartments

Montessori Public School of Arlington

701 s highland st

arlington, VA, 22204

PK, K-5Public
A-

Alice West Fleet Elementary School

115 south old glebe rd

arlington, VA, 22204

PK, K-5Public
A

Integration Station

4420 fairfax dr

arlington, VA, 22203

PKPublic

Campbell Elementary School

737 s carlin springs rd

arlington, VA, 22204

PK, K-5Public
A-

Early Childhood Center

5651 rayburn ave

alexandria, VA, 22311

PKPublic
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Internet available near Walter Reed Apartments

Getting around Arlington near 500 S Walter Reed Dr

Walking

7/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

6/10
This area is close to freeways and has adequate parking options.

Cycling

8/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.

Transit

7/10
Popular public transit options are just a short walk from this location.

Points of interest for 500 S Walter Reed Dr, Arlington

Groceries

8/10
At least one supermarket within a 15-minute walk

Shopping

6/10
Several shops within a few minutes’ walk

Cafes

5/10
Some cafés within a few minutes’ walk

Restaurants

7/10
Variety of restaurants within a few minutes' walk

Primary schools

9/10
At least one elementary school within a 10-minute walk

High schools

9/10
At least one high school within a 5-minute walk

Nightlife

4/10
Some bars within walking distance

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