Historic Multifamily Apartment
For Sale
$1,100,000
224 N Columbus Street N, Alexandria, VA 22314
Two-apartment building with hardwood floors and in-unit washer/dryer, including a vacant first-floor unit.
Property Size2,385 SF
Price / SF$461.22
Days on Market78
Property Features for 224 N Columbus Street N
General Information
Standard status
Active
Size
2,385 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
2
Amenities
hardwood floors
stainless steel appliances
washer/dryer in each unit
storage in basement
shared rear brick enclosed patio
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Seaport Properties LLC
(703) 519-0951
Listed By:
Cheryl Monno
Source:
Deepcreeklake
Added: May 16
Changed: Jul 27
Last Checked: Aug 1 at 4:25AM
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 Seaport Properties LLC
Investment Insights
Based on property information with market context.
This historic multi-family apartment building features two residential apartments spread across three levels. The first-floor unit is currently vacant and offers 1 bedroom and 1 bathroom. The second-floor unit includes 2 bedrooms and 1 bathroom and is arranged over two levels; it is under lease through 9/30/26. Both units include functional floor plans with hardwood floors, spacious living and dining areas, stainless steel appliances, and a washer and dryer in each unit. There is also basement storage and a shared rear brick-enclosed patio. The property is being sold as-is.
The building is located in the heart of Old Town with convenient access to major commuter routes and public transportation.
Seller discloses existing issues with the sewer system, and available materials include a proposal to address the issue. A proposal and additional information are available with the listing.
The building is located in the heart of Old Town with convenient access to major commuter routes and public transportation.
Seller discloses existing issues with the sewer system, and available materials include a proposal to address the issue. A proposal and additional information are available with the listing.
Key Highlights
- Historic 1900 two‑apartment building with functional floor plans across three levels
- First‑floor 1 bed, 1 bath apartment is currently vacant
- Second‑floor 2 bed, 1 bath apartment is under lease until 9/30/26
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.5k | $25.80 |
| − Vacancy | −$3.6k | −$1.50 |
| EGI | $58.0k | $24.30 |
| − OpEx | −$17.4k | −$7.29 |
| NOI | $40.6k | $17.01 |
2,385 SF · lease $25.80/SF/yr · vacancy 5.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$579.6K
$507.2K – $676.3K
NOI $40,575 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$522.3K
$457.0K – $609.3K
NOI $36,560 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.55M
NOI $92,729 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 22314, VA
35,784
Population
21,154
Households
1.7
Avg Household Size
39
Median Age
79%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,671
Density / Sq Mi
$144,359
Median Household Income
$98,121
Median Earnings
$2,312
Median Rent
$856,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-apartment building with hardwood floors and in-unit washer/dryer, including a vacant first-floor unit.
Where is this duplex located?
The property is located at 224 N Columbus Street N Alexandria, VA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Historic 1900 two‑apartment building with functional floor plans across three levels; First‑floor 1 bed, 1 bath apartment is currently vacant; Second‑floor 2 bed, 1 bath apartment is under lease until 9/30/26
