Sixth-Floor Residential Income
For Sale
$189,900
2059 HUNTINGTON AVENUE Unit 612, Alexandria, VA 22303
Condominium unit with a balcony overlooking tennis courts and an outdoor pool.
Property Size850 SF
Days on Market245
Property Features for 2059 HUNTINGTON AVENUE Unit 612
General Information
Standard status
Active
Size
850 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,017
Amenities
outdoor pool
tennis courts
Building Details
Building Size
850 SF
Year Built
1972
Listing Agency:
Baldus Real Estate, Inc.
(301) 751-4404
Listed By:
Christopher W Blondin · License #0225202853
(301) 751-4404
Source:
Dcmetrorealtyteam
Added: Dec 6, 2025
Changed: Aug 8
Last Checked: Aug 8 at 9:20AM
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 Baldus Real Estate, Inc.
Investment Insights
Based on property information with market context.
This sixth-floor condominium unit was built in 1972 and includes a balcony with skyline views. Its outlook extends over the property’s tennis courts and outdoor pool, adding views of shared recreational amenities from the residence. The unit is identified as a residential income property and was previously occupied by a renter for more than 20 years.
The property is located on Huntington Avenue in Alexandria, Virginia, near metro service and Ronald Reagan Washington National Airport. On-site parking is described as available for cars, with separate parking designated for motorcycles.
The property is located on Huntington Avenue in Alexandria, Virginia, near metro service and Ronald Reagan Washington National Airport. On-site parking is described as available for cars, with separate parking designated for motorcycles.
Key Highlights
- Sixth‑floor condominium unit with balcony
- Views of tennis courts and outdoor pool
- Skyline views from the balcony
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
6.86%
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 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$472.1K
$413.1K – $550.8K
NOI $33,048 @ 7.0% cap · market cap 17.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - Condominium unit with a balcony overlooking tennis courts and an outdoor pool.
Where is this residential income property located?
The property is located at 2059 HUNTINGTON AVENUE Unit 612 Alexandria, VA.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Sixth‑floor condominium unit with balcony; Views of tennis courts and outdoor pool; Skyline views from the balcony
