River-View Residential Income
For Sale
$225,000
2059 HUNTINGTON AVENUE Unit 903, Alexandria, VA 22303
Upper-floor condominium with an east-facing balcony, expanded kitchen cabinetry, and substantial closet storage.
Property Size850 SF
Price / SF$264.71
Days on Market263
Property Features for 2059 HUNTINGTON AVENUE Unit 903
General Information
Standard status
Active
Size
850 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,049
Amenities
24-hour front desk
pool
tennis
laundry room
gated entry
balcony
Building Details
Building Size
850 SF
Year Built
1972
Listing Agency:
Corcoran McEnearney
(703) 217-3666
Listed By:
Charlene L Schaper · License #0225001537
(703) 217-3666
Source:
Dcmetrorealtyteam
Added: Dec 6, 2025
Changed: Aug 21
Last Checked: Aug 25 at 11:59AM
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 850-square-foot, one-bedroom condominium occupies the 9th floor of Hunting Creek Club and faces east toward the Potomac River. A balcony extends from the dining room, while Thermopane glazing is installed at the balcony door and throughout the unit. The kitchen has cabinetry on both sides, and storage includes a 6' x 4' foyer walk-in closet, a linen closet, and an 8' x 5' bedroom walk-in closet. The bathroom has an updated vanity with additional storage.
The community is five blocks from Huntington Metro station and provides access to Rt 1, 495, Old Town Alexandria, and National Airport. Community amenities include a 24-hour front desk, pool, tennis facilities, parking, and laundry rooms on each floor, with gated entry. The property was built in 1972. One cat or dog under 20 lbs. is permitted per unit, and electricity is submetered and paid by the occupant.
The community is five blocks from Huntington Metro station and provides access to Rt 1, 495, Old Town Alexandria, and National Airport. Community amenities include a 24-hour front desk, pool, tennis facilities, parking, and laundry rooms on each floor, with gated entry. The property was built in 1972. One cat or dog under 20 lbs. is permitted per unit, and electricity is submetered and paid by the occupant.
Key Highlights
- 850‑square‑foot, one‑bedroom unit on the 9th floor
- East‑facing orientation with Potomac River views and a dining‑room balcony
- 6' x 4' foyer walk‑in closet and 8' x 5' bedroom walk‑in closet
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
5.79%
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 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$472.1K
$413.1K – $550.8K
NOI $33,048 @ 7.0% cap · market cap 14.69%
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 - Upper-floor condominium with an east-facing balcony, expanded kitchen cabinetry, and substantial closet storage.
Where is this residential income property located?
The property is located at 2059 HUNTINGTON AVENUE Unit 903 Alexandria, VA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 850‑square‑foot, one‑bedroom unit on the 9th floor; East‑facing orientation with Potomac River views and a dining‑room balcony; 6' x 4' foyer walk‑in closet and 8' x 5' bedroom walk‑in closet
