Corner Residential Income
For Sale
$487,000
2451 MIDTOWN AVENUE Unit 1319, Alexandria, VA 22303
Two bedrooms, two full bathrooms, and a private balcony complement this high-floor residence.
Property Size1,172 SF
Price / SF$415.53
Days on Market61
Property Features for 2451 MIDTOWN AVENUE Unit 1319
General Information
Standard status
Active
Size
1,172 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Eisenhower East
Public Transit
Yes
Units
Multifamily Units
1
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$5,837
Amenities
private balcony
24-hour concierge service
cyber cafe
party room
grill deck
fitness center
heated rooftop pool with hot tub
rentable on-site guest suite
Building Details
Building Size
1,172 SF
Year Built
2007
Listing Agency:
Corcoran McEnearney
Listed By:
Jeffrey Lewis Cann
(703) 717-1932
Source:
Canopy-re
Added: Aug 29
Changed: Oct 27
Last Checked: Oct 26 at 11:54AM
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
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Investment Insights
Based on property information with market context.
This 1,172-square-foot corner residence occupies the 13th floor and includes two bedrooms, two full bathrooms, and a private balcony. Nine-foot ceilings add to the interior layout. The home was freshly painted and has new flooring in the bedrooms; the kitchen features stainless steel appliances and maple cabinetry. Two assigned garage spaces are positioned side by side. The building was completed in 2007 and offers a concierge, fitness center, heated rooftop pool and hot tub, grill deck, party room, cyber cafe, and a guest suite available for rent.
The Metro is across the street. Restaurants and shops at Carlyle, Atlas Brew Works, AMC, and Wegmans are nearby, as are Old Town Alexandria and National Harbor.
The Metro is across the street. Restaurants and shops at Carlyle, Atlas Brew Works, AMC, and Wegmans are nearby, as are Old Town Alexandria and National Harbor.
Key Highlights
- 1,172‑square‑foot corner residence on the 13th floor
- Two bedrooms and two full bathrooms
- Private balcony with western sunset views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,966
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,320
$359.3K
Cap Rate 7%
$256,657
$256.7K
Cap Rate 9%
$199,622
$199.6K
Market Conditions
NOI Build-Up for 1,172 SF
Gross rent
$34.5K $29.40/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$32.7K $27.87/SF
− OpEx
−$14.7K −$12.54/SF
NOI
$18.0K $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 Rate 5%
$359,320
Cap Rate 7%
$256,657
Cap Rate 9%
$199,622
Alternative Uses
Best Use
Apartment 5plus
$256.7K
$224.6K – $299.4K
NOI $17,966 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$651.0K
$569.6K – $759.5K
NOI $45,567 @ 7.0% cap · market cap 9.36%
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 - Two bedrooms, two full bathrooms, and a private balcony complement this high-floor residence.
Where is this residential income property located?
The property is located at 2451 MIDTOWN AVENUE Unit 1319 Alexandria, VA.
What is the asking price?
The asking price for this property is $487,000.
What are key features of this property?
This property features: 1,172‑square‑foot corner residence on the 13th floor; Two bedrooms and two full bathrooms; Private balcony with western sunset views
