Top-Floor Studio Income
For Sale
$190,000
2059 HUNTINGTON AVENUE Unit 1602, Alexandria, VA 22303
Updated condo with balcony, expansive views, and access to pool, tennis courts, parking, and floor-by-floor laundry.
Property Size550 SF
Price / SF$345.45
Days on Market17
Property Features for 2059 HUNTINGTON AVENUE Unit 1602
General Information
Standard status
Active
Size
550 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,168
Amenities
controlled access
concierge service
outdoor pool
tennis courts
on-site parking
laundry on every floor
private balcony
Building Details
Building Size
550 SF
Year Built
1972
Listing Agency:
EXP Realty, LLC
(703) 629-7475
Listed By:
Loretta Gray · License #0225217872
(703) 629-7475
Source:
Dcmetrorealtyteam
Added: Aug 10
Changed: Aug 23
Last Checked: Aug 25 at 12:07PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This top-floor studio condo at Hunting Creek Club offers approximately 550 square feet in an efficient open layout. The residence includes an updated kitchen and bath, new flooring, oversized windows, and a private balcony overlooking the community pool and tennis courts. Its elevated position provides views above the treetops.
Hunting Creek Club provides controlled access, concierge service, an outdoor pool, tennis courts, on-site parking, and laundry facilities on every floor. The property is located minutes from Huntington Metro, Old Town Alexandria, major commuter routes, and neighborhood shopping and dining. Built in 1972, the condo suits residential income property buyers seeking a compact unit with established community amenities and convenient access to the surrounding area.
Hunting Creek Club provides controlled access, concierge service, an outdoor pool, tennis courts, on-site parking, and laundry facilities on every floor. The property is located minutes from Huntington Metro, Old Town Alexandria, major commuter routes, and neighborhood shopping and dining. Built in 1972, the condo suits residential income property buyers seeking a compact unit with established community amenities and convenient access to the surrounding area.
Key Highlights
- Top‑floor studio condo with approximately 550 square feet
- Updated kitchen and bath with new flooring
- Private balcony overlooking the community pool and tennis courts
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
$8,431
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
4.44%
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%
$168,620
$168.6K
Cap Rate 7%
$120,443
$120.4K
Cap Rate 9%
$93,678
$93.7K
Market Conditions
NOI Build-Up for 550 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
$16.2K $29.40/SF
− Vacancy
−$841 −$1.53/SF
EGI
$15.3K $27.87/SF
− OpEx
−$6.9K −$12.54/SF
NOI
$8.4K $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%
$168,620
Cap Rate 7%
$120,443
Cap Rate 9%
$93,678
Alternative Uses
Best Use
Apartment 5plus
$120.4K
$105.4K – $140.5K
NOI $8,431 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
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 - Updated condo with balcony, expansive views, and access to pool, tennis courts, parking, and floor-by-floor laundry.
Where is this residential income property located?
The property is located at 2059 HUNTINGTON AVENUE Unit 1602 Alexandria, VA.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Top‑floor studio condo with approximately 550 square feet; Updated kitchen and bath with new flooring; Private balcony overlooking the community pool and tennis courts
