Penthouse Residential Income
New
For Sale
$325,000
2059 HUNTINGTON AVENUE Unit 1607, Alexandria, VA 22303
Updated corner condo with river views, a balcony, renovated interiors, and access to extensive community amenities.
Property Size1,170 SF
Price / SF$277.78
Days on Market7
Property Features for 2059 HUNTINGTON AVENUE Unit 1607
General Information
Standard status
Active
Size
1,170 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,882
Amenities
24-hour front desk
pool
tennis
gated parking
laundry room
balcony
Building Details
Building Size
1,170 SF
Year Built
1972
Listing Agency:
Corcoran McEnearney
(703) 217-3666
Listed By:
Charlene L Schaper · License #0225001537
(703) 217-3666
Source:
Dcmetrorealtyteam
Added: Aug 20
Changed: Aug 23
Last Checked: Aug 25 at 1:03PM
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 Corcoran McEnearney
Investment Insights
Based on property information with market context.
This 16th-floor corner condominium offers 1,170 SF with two bedrooms, two baths, 8' 6" ceilings, and a large balcony. Potomac River views extend from every room. Interior improvements include fresh paint, 9" luxury vinyl plank flooring, updated bathroom tile, new lighting, six-panel doors, blinds, outlets, switches, and an electrical panel with new breakers. The renovated kitchen includes white shaker cabinetry, pantry storage with pull-out shelving, quartz countertops, a deep stainless sink, undercabinet lighting, and LG ThinQ stainless appliances. Both baths feature new shaker vanities, quartz surfaces, Kohler faucets, large mirrors, and rainhead showers with wands. Two walk-in closets and a linen closet provide additional storage, while the HVAC PTAC units have been cleaned and serviced.
Hunting Creek Club is five blocks from the Huntington Metro station, with access to Rt 1, 495, Old Town Alexandria, National Airport, and the Woodrow Wilson Bridge. Community amenities include a 24-hour front desk, pool, tennis facilities, gated parking, and a laundry room on each floor.
Hunting Creek Club is five blocks from the Huntington Metro station, with access to Rt 1, 495, Old Town Alexandria, National Airport, and the Woodrow Wilson Bridge. Community amenities include a 24-hour front desk, pool, tennis facilities, gated parking, and a laundry room on each floor.
Key Highlights
- 16th‑floor corner unit with panoramic Potomac River views from every room
- 1,170 SF condominium with 2 bedrooms, 2 baths, 8' 6" ceilings, and a large balcony
- Renovated kitchen with quartz counters, pantry pull‑outs, undercabinet lighting, and LG ThinQ appliances
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
$17,935
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
5.52%
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%
$358,700
$358.7K
Cap Rate 7%
$256,214
$256.2K
Cap Rate 9%
$199,278
$199.3K
Market Conditions
NOI Build-Up for 1,170 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
$34.4K $29.40/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$32.6K $27.87/SF
− OpEx
−$14.7K −$12.54/SF
NOI
$17.9K $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%
$358,700
Cap Rate 7%
$256,214
Cap Rate 9%
$199,278
Alternative Uses
Best Use
Apartment 5plus
$256.2K
$224.2K – $298.9K
NOI $17,935 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$649.9K
$568.6K – $758.2K
NOI $45,490 @ 7.0% cap · market cap 14.00%
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 - Updated corner condo with river views, a balcony, renovated interiors, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 2059 HUNTINGTON AVENUE Unit 1607 Alexandria, VA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 16th‑floor corner unit with panoramic Potomac River views from every room; 1,170 SF condominium with 2 bedrooms, 2 baths, 8' 6" ceilings, and a large balcony; Renovated kitchen with quartz counters, pantry pull‑outs, undercabinet lighting, and LG ThinQ appliances
