Residential Income Property with
For Sale
$193,999
2059 HUNTINGTON AVENUE Unit 300, Alexandria, VA 22303
Studio condo with renovated kitchen, hardwood parquet flooring, and access to gated community amenities.
Property Size550 SF
Days on Market323
Property Features for 2059 HUNTINGTON AVENUE Unit 300
General Information
Standard status
Active
Size
550 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,613
Amenities
pool
tennis court
concierge
party room
laundry room
Building Details
Building Size
550 SF
Year Built
1972
Listing Agency:
Keller Williams Realty Dulles
(703) 850-4619
Listed By:
Joshua Bell · License #0225226194
(703) 850-4619
Source:
Dcmetrorealtyteam
Added: Oct 8, 2025
Changed: Aug 20
Last Checked: Aug 25 at 12:23PM
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 Keller Williams Realty Dulles
Investment Insights
Based on property information with market context.
This residential income property is a studio condominium in a building constructed in 1972. The unit includes hardwood parquet flooring, a balcony facing the heated pool and refinished tennis court, and a renovated kitchen with extensive cabinetry, countertop space, and room for meal preparation. Community amenities include gated entry, 24-hour concierge service, package storage, a party room with kitchen, unassigned parking, and secure laundry rooms on each floor. New washers and dryers were installed in 2024.
The property is near Huntington Metro and within a short distance of Old Town. Nearby destinations include shopping, a library, post office, banks, Mount Vernon Recreation Center, Planet Fitness, Belle Haven Country Club, and the GW Parkway bike trail. The pedestrian path across Wilson Bridge connects to National Harbor and the Potomac River waterfront. Road access includes Telegraph Road, I-495, US Rt. 1/Richmond Hwy, I-395, Fort Belvoir, and Washington DC.
The property is near Huntington Metro and within a short distance of Old Town. Nearby destinations include shopping, a library, post office, banks, Mount Vernon Recreation Center, Planet Fitness, Belle Haven Country Club, and the GW Parkway bike trail. The pedestrian path across Wilson Bridge connects to National Harbor and the Potomac River waterfront. Road access includes Telegraph Road, I-495, US Rt. 1/Richmond Hwy, I-395, Fort Belvoir, and Washington DC.
Key Highlights
- Studio condominium in a building constructed in 1972
- Renovated kitchen with countertop workspace and substantial cabinet storage
- Balcony overlooks the heated pool and refinished tennis court
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
4.35%
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 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 11.02%
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 - Studio condo with renovated kitchen, hardwood parquet flooring, and access to gated community amenities.
Where is this residential income property located?
The property is located at 2059 HUNTINGTON AVENUE Unit 300 Alexandria, VA.
What is the asking price?
The asking price for this property is $193,999.
What are key features of this property?
This property features: Studio condominium in a building constructed in 1972; Renovated kitchen with countertop workspace and substantial cabinet storage; Balcony overlooks the heated pool and refinished tennis court
