Residential Income Property with
For Sale
$384,900
2451 MIDTOWN AVENUE Unit 1502, Alexandria, VA 22303
A 15th-floor residence pairs a separate den with building amenities that include a rooftop pool and fitness center.
Property Size867 SF
Price / SF$443.94
Days on Market112
Property Features for 2451 MIDTOWN AVENUE Unit 1502
General Information
Standard status
Active
Size
867 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Eisenhower East
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA + DEN
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,841
Amenities
24-hour concierge
covered assigned garage parking
private storage unit
fitness center
Cyber Cafe
Party Room
Grill Deck
large heated rooftop pool with hot tub
rentable on-site guest suite
Building Details
Building Size
867 SF
Year Built
2007
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: Jul 9
Changed: Oct 26
Last Checked: Oct 26 at 1:29PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This 867-square-foot residence on the 15th floor has one bedroom, one bathroom, and a den that can serve as office space or a guest room. Interior features include luxury vinyl flooring, fresh paint, stainless steel kitchen appliances, maple cabinetry, and an updated bathroom with a walk-in shower. The building was completed in 2007.
Building amenities include a 24-hour concierge, fitness center, Cyber Cafe, party room, grill deck, heated rooftop pool, and hot tub. The unit also includes covered assigned garage parking near the entrance and a private storage unit; an on-site guest suite is available to rent. The property is directly across from the Metro, with shops and dining in Carlyle nearby.
Building amenities include a 24-hour concierge, fitness center, Cyber Cafe, party room, grill deck, heated rooftop pool, and hot tub. The unit also includes covered assigned garage parking near the entrance and a private storage unit; an on-site guest suite is available to rent. The property is directly across from the Metro, with shops and dining in Carlyle nearby.
Key Highlights
- 867‑square‑foot, 15th‑floor residence with one bedroom, one bathroom, and a den
- Directly across from the Metro
- Building amenities include 24‑hour concierge, fitness center, Cyber Cafe, party room, grill deck, heated rooftop pool, and hot tub
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,290
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,800
$265.8K
Cap Rate 7%
$189,857
$189.9K
Cap Rate 9%
$147,667
$147.7K
Market Conditions
NOI Build-Up for 867 SF
Gross rent
$25.5K $29.40/SF
− Vacancy
−$1.3K −$1.53/SF
EGI
$24.2K $27.87/SF
− OpEx
−$10.9K −$12.54/SF
NOI
$13.3K $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 Rate 5%
$265,800
Cap Rate 7%
$189,857
Cap Rate 9%
$147,667
Alternative Uses
Best Use
Apartment 5plus
$189.9K
$166.1K – $221.5K
NOI $13,290 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$481.6K
$421.4K – $561.8K
NOI $33,709 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - A 15th-floor residence pairs a separate den with building amenities that include a rooftop pool and fitness center.
Where is this residential income property located?
The property is located at 2451 MIDTOWN AVENUE Unit 1502 Alexandria, VA.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: 867‑square‑foot, 15th‑floor residence with one bedroom, one bathroom, and a den; Directly across from the Metro; Building amenities include 24‑hour concierge, fitness center, Cyber Cafe, party room, grill deck, heated rooftop pool, and hot tub
