River-View Residential Income
For Sale
$247,000
2059 HUNTINGTON AVENUE Unit 707, Alexandria, VA 22303
Renovated condominium with private balcony, secure entry, resident amenities, and access to nearby Metro service and trails.
Property Size1,170 SF
Price / SF$211.11
Days on Market364
Property Features for 2059 HUNTINGTON AVENUE Unit 707
General Information
Standard status
Active
Size
1,170 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,485
Amenities
concierge
pool
gym
party room
laundry
tennis court
Building Details
Building Size
1,170 SF
Year Built
1972
Listing Agency:
Compass
Listed By:
Lauren Breslaw · License #0225214906
(703) 862-4717
Source:
Dcmetrorealtyteam
Added: Sep 10, 2025
Changed: Aug 31
Last Checked: Sep 8 at 10:04AM
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 Compass
Investment Insights
Based on property information with market context.
This 1,170-square-foot condominium offers two bedrooms, two bathrooms, a renovated kitchen, dining area, and substantial storage. Kitchen appointments include granite countertops, a breakfast bar, wine racks, and a wine refrigerator. The primary bedroom includes an ensuite bath and walk-in closet, while the second bedroom provides additional living space. A private balcony overlooks the river and National Harbor skyline.
The community provides secured entry, 24-hour concierge service, a pool, gym, party room, laundry facilities, tennis court, and parking. Huntington Metro and Huntington Park trails are within walking distance, with Old Town Alexandria only minutes away. The property was built in 1972 and is approved for Fannie Mae, Freddie Mac, and VA financing.
The community provides secured entry, 24-hour concierge service, a pool, gym, party room, laundry facilities, tennis court, and parking. Huntington Metro and Huntington Park trails are within walking distance, with Old Town Alexandria only minutes away. The property was built in 1972 and is approved for Fannie Mae, Freddie Mac, and VA financing.
Key Highlights
- 1,170 SF condominium with 2 bedrooms and 2 bathrooms
- Renovated kitchen with granite counters, breakfast bar, wine racks, and wine fridge
- Private balcony with river and National Harbor skyline views
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
7.26%
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 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$649.9K
$568.6K – $758.2K
NOI $45,490 @ 7.0% cap · market cap 18.42%
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 - Renovated condominium with private balcony, secure entry, resident amenities, and access to nearby Metro service and trails.
Where is this residential income property located?
The property is located at 2059 HUNTINGTON AVENUE Unit 707 Alexandria, VA.
What is the asking price?
The asking price for this property is $247,000.
What are key features of this property?
This property features: 1,170 SF condominium with 2 bedrooms and 2 bathrooms; Renovated kitchen with granite counters, breakfast bar, wine racks, and wine fridge; Private balcony with river and National Harbor skyline views
