River-View Income
For Sale
$199,900
Pending
2059 HUNTINGTON AVENUE Unit 1601, Alexandria, VA 22303
Sixteenth-floor junior one-bedroom condo with balcony, updated bath, and gated community amenities.
Property Size673 SF
Days on Market69
Property Features for 2059 HUNTINGTON AVENUE Unit 1601
General Information
Standard status
Pending
Size
673 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x JR 1BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,954
Amenities
24-hour front desk
pool
tennis
parking
laundry room
gated entry
Building Details
Building Size
673 SF
Year Built
1972
Listing Agency:
Wilkinson PM INC
(571) 521-9726
Listed By:
Christopher L Kroll · License #0225086047
(571) 521-9726
Source:
Dcmetrorealtyteam
Added: Jun 17
Changed: Aug 18
Last Checked: Aug 17 at 3:23PM
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 Wilkinson PM INC
Investment Insights
Based on property information with market context.
This 673 square foot junior one-bedroom condominium occupies the 16th floor of Hunting Creek Club and faces east for morning light and panoramic Potomac River views. The living room opens to a large balcony, while the kitchen includes maple cabinets and stainless appliances on order. The bath has been redesigned with a porcelain floor, tub surround, and updated vanity. Additional features include an updated electrical panel, Thermopane windows, a sliding glass door, six-panel doors, and double closets in both the foyer and bedroom.
Hunting Creek Club is located five blocks from the Huntington Metro station, with access to Rt 1, 495, Old Town Alexandria, and National Airport. Community amenities include a 24-hour front desk, pool, tennis, parking, and a laundry room on each floor, all within a gated entry. The property is near the Woodrow Wilson Bridge and across the river from National Harbor and MGM.
Hunting Creek Club is located five blocks from the Huntington Metro station, with access to Rt 1, 495, Old Town Alexandria, and National Airport. Community amenities include a 24-hour front desk, pool, tennis, parking, and a laundry room on each floor, all within a gated entry. The property is near the Woodrow Wilson Bridge and across the river from National Harbor and MGM.
Key Highlights
- 673 square foot junior one‑bedroom on the 16th floor
- Panoramic Potomac River view with east‑facing exposure
- Large living room balcony with Thermopane windows and sliding glass door
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
$10,317
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
5.16%
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%
$206,340
$206.3K
Cap Rate 7%
$147,386
$147.4K
Cap Rate 9%
$114,633
$114.6K
Market Conditions
NOI Build-Up for 673 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
$19.8K $29.40/SF
− Vacancy
−$1.0K −$1.53/SF
EGI
$18.8K $27.87/SF
− OpEx
−$8.4K −$12.54/SF
NOI
$10.3K $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%
$206,340
Cap Rate 7%
$147,386
Cap Rate 9%
$114,633
Alternative Uses
Best Use
Apartment 5plus
$147.4K
$129.0K – $172.0K
NOI $10,317 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$373.8K
$327.1K – $436.1K
NOI $26,166 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Demographics for 22303, VA
16,109
Population
8,669
Households
1.9
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
1.9 sq mi
ZIP Area
8,478
Density / Sq Mi
$103,822
Median Household Income
$69,699
Median Earnings
$2,050
Median Rent
$547,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Sixteenth-floor junior one-bedroom condo with balcony, updated bath, and gated community amenities.
Where is this residential income property located?
The property is located at 2059 HUNTINGTON AVENUE Unit 1601 Alexandria, VA.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 673 square foot junior one‑bedroom on the 16th floor; Panoramic Potomac River view with east‑facing exposure; Large living room balcony with Thermopane windows and sliding glass door
