Two-Bedroom Income Property with
For Sale
$299,000
1607 BELLE VIEW BOULEVARD Unit B2, Alexandria, VA 22307
As-is unit with a private balcony, assigned storage, and access to basement laundry facilities.
Property Size785 SF
Days on Market10
Property Features for 1607 BELLE VIEW BOULEVARD Unit B2
General Information
Standard status
Active
Size
785 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,769
Building Details
Building Size
785 SF
Year Built
1950
Listing Agency:
Real Broker, LLC
Listed By:
Angela Shaw · License #0225249884
(703) 608-3272
Source:
Dcmetrorealtyteam
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 8 at 12:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker, LLC
Investment Insights
Based on property information with market context.
This two-bedroom, one-bath residential income property includes a private balcony and is offered in as-is condition. The unit also includes an assigned storage area, while a paid laundry facility is located in the building’s basement. Condo fees cover water and sewer service, cooking gas, and trash and recycling removal.
The property is in Alexandria’s Belle View neighborhood, with ample parking and access to the George Washington Parkway, Route 1, and 495. Huntington Metro Station is less than 5 miles away. The unit is also near the Mount Vernon Rec Center, Martha Washington Library, two parks, a dog park, and a shopping center across the way.
The property is in Alexandria’s Belle View neighborhood, with ample parking and access to the George Washington Parkway, Route 1, and 495. Huntington Metro Station is less than 5 miles away. The unit is also near the Mount Vernon Rec Center, Martha Washington Library, two parks, a dog park, and a shopping center across the way.
Key Highlights
- Two‑bedroom, one‑bath unit with a private balcony
- Offered in as‑is condition
- Water and sewer, cooking gas, and trash/recycling included in condo fees
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,033
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$240,660
$240.7K
Cap Rate 7%
$171,900
$171.9K
Cap Rate 9%
$133,700
$133.7K
Market Conditions
NOI Build-Up for 785 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.1K $29.40/SF
− Vacancy
−$1.2K −$1.53/SF
EGI
$21.9K $27.87/SF
− OpEx
−$9.8K −$12.54/SF
NOI
$12.0K $15.33/SF
Area
Alexandria, VA
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$240,660
Cap Rate 7%
$171,900
Cap Rate 9%
$133,700
Alternative Uses
Best Use
Apartment 5plus
$171.9K
$150.4K – $200.6K
NOI $12,033 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$436.0K
$381.5K – $508.7K
NOI $30,521 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 22307, VA
10,271
Population
4,742
Households
2.2
Avg Household Size
45
Median Age
70%
College-Educated
96%
High-School Grad
3.1 sq mi
ZIP Area
3,313
Density / Sq Mi
$140,559
Median Household Income
$86,082
Median Earnings
$1,906
Median Rent
$752,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - As-is unit with a private balcony, assigned storage, and access to basement laundry facilities.
Where is this residential income property located?
The property is located at 1607 BELLE VIEW BOULEVARD Unit B2 Alexandria, VA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath unit with a private balcony; Offered in as‑is condition; Water and sewer, cooking gas, and trash/recycling included in condo fees
