Gated Residential Income
For Sale
$220,000
2059 HUNTINGTON AVENUE Unit 304, Alexandria, VA 22303
New LVP flooring, included utilities, and shared amenities create a convenient condominium setting.
Property Size850 SF
Days on Market69
Property Features for 2059 HUNTINGTON AVENUE Unit 304
General Information
Standard status
Active
Size
850 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,977
Amenities
gated community
concierge service
pool
tennis courts
grilling area
party room
grounds
open parking
Building Details
Building Size
850 SF
Year Built
1972
Listing Agency:
Samson Properties
(703) 994-0508
Listed By:
Carla J Moore · License #0225097130
(703) 994-0508
Source:
Dcmetrorealtyteam
Added: Jun 5
Changed: Aug 11
Last Checked: Aug 11 at 12:11PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This residential income condominium is a one-bedroom, one-bath residence at Huntington Creek Club Condominiums. The interior includes new LVP flooring, separate living and dining areas, walk-in closets, and outdoor views. The unit is described as move-in ready, with a layout suited to comfortable residential use.
The community is gated and provides concierge service, a pool, tennis courts, a grilling area, party room, maintained grounds, and open parking for residents and guests. Condominium fees include utilities other than electric. The property is near Huntington Metro, I-495, National Harbor, Old Town Alexandria, Downtown DC, shopping, dining, and entertainment. Built in 1972, the condominium is located at 2059 Huntington Avenue Unit 304 in Alexandria, Virginia.
The community is gated and provides concierge service, a pool, tennis courts, a grilling area, party room, maintained grounds, and open parking for residents and guests. Condominium fees include utilities other than electric. The property is near Huntington Metro, I-495, National Harbor, Old Town Alexandria, Downtown DC, shopping, dining, and entertainment. Built in 1972, the condominium is located at 2059 Huntington Avenue Unit 304 in Alexandria, Virginia.
Key Highlights
- One‑bedroom, one‑bath condominium at 2059 Huntington Avenue Unit 304
- New LVP flooring with separate living and dining areas
- Gated community with concierge service
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
$13,030
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
5.92%
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%
$260,600
$260.6K
Cap Rate 7%
$186,143
$186.1K
Cap Rate 9%
$144,778
$144.8K
Market Conditions
NOI Build-Up for 850 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
$25.0K $29.40/SF
− Vacancy
−$1.3K −$1.53/SF
EGI
$23.7K $27.87/SF
− OpEx
−$10.7K −$12.54/SF
NOI
$13.0K $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%
$260,600
Cap Rate 7%
$186,143
Cap Rate 9%
$144,778
Alternative Uses
Best Use
Apartment 5plus
$186.1K
$162.9K – $217.2K
NOI $13,030 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$472.1K
$413.1K – $550.8K
NOI $33,048 @ 7.0% cap · market cap 15.02%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - New LVP flooring, included utilities, and shared amenities create a convenient condominium setting.
Where is this residential income property located?
The property is located at 2059 HUNTINGTON AVENUE Unit 304 Alexandria, VA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium at 2059 Huntington Avenue Unit 304; New LVP flooring with separate living and dining areas; Gated community with concierge service
