Corner Residential Income
New
For Sale
$498,000
2451 MIDTOWN AVENUE Unit 928, Alexandria, VA 22303
A two-bedroom corner condo pairs private outdoor space with building amenities and included parking.
Property Size1,355 SF
Days on Market6
Property Features for 2451 MIDTOWN AVENUE Unit 928
General Information
Standard status
Active
Size
1,355 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,753
Amenities
balcony
club room
meeting room
seasonal outdoor pool
fitness center
patio
24-hour concierge
Building Details
Building Size
1,355 SF
Year Built
2007
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Chelsea Ingrid Henderson
(703) 969-8659
Source:
Dcmetrorealtyteam
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 6 at 2:41AM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
This ninth-floor corner condo offers more than 1,300 square feet, two bedrooms, a balcony, and a walk-in closet in the primary bedroom. The second bedroom can also function as an office. The kitchen has new appliances, and the living room and hallways have been freshly painted. Built in 2007, the unit has one shared wall and no residential units below it.
Building amenities include a seasonal outdoor pool, fitness center, club room, meeting room, grilling patio, and 24-hour concierge. Parking is included, and the property is a short walk from the Metro and Capital Bikeshare.
Building amenities include a seasonal outdoor pool, fitness center, club room, meeting room, grilling patio, and 24-hour concierge. Parking is included, and the property is a short walk from the Metro and Capital Bikeshare.
Key Highlights
- More than 1,300 square feet in a ninth‑floor corner condo
- Two bedrooms, including a primary suite with walk‑in closet and en suite bathroom
- Balcony with views of Alexandria
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,771
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,420
$415.4K
Cap Rate 7%
$296,729
$296.7K
Cap Rate 9%
$230,789
$230.8K
Market Conditions
NOI Build-Up for 1,355 SF
Gross rent
$39.8K $29.40/SF
− Vacancy
−$2.1K −$1.53/SF
EGI
$37.8K $27.87/SF
− OpEx
−$17.0K −$12.54/SF
NOI
$20.8K $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%
$415,420
Cap Rate 7%
$296,729
Cap Rate 9%
$230,789
Alternative Uses
Best Use
Apartment 5plus
$296.7K
$259.6K – $346.2K
NOI $20,771 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$752.6K
$658.5K – $878.0K
NOI $52,682 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,490
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
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom corner condo pairs private outdoor space with building amenities and included parking.
Where is this residential income property located?
The property is located at 2451 MIDTOWN AVENUE Unit 928 Alexandria, VA.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: More than 1,300 square feet in a ninth‑floor corner condo; Two bedrooms, including a primary suite with walk‑in closet and en suite bathroom; Balcony with views of Alexandria
