Renovated Residential Income
For Sale
$479,900
2451 MIDTOWN AVENUE Unit 1501, Alexandria, VA 22303
Two-bedroom condominium residence with updated interiors, smart-home features, and two assigned garage spaces.
Property Size1,078 SF
Days on Market20
Property Features for 2451 MIDTOWN AVENUE Unit 1501
General Information
Standard status
Active
Size
1,078 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,972
Amenities
fitness center
swimming pool
large jetted spa
24-hour concierge
grilling and picnic area
secure parking garage
in-unit washer and dryer
Building Details
Building Size
1,078 SF
Year Built
2007
Listing Agency:
Samson Properties
Listed By:
Irina Babb · License #0225092385
(571) 217-2571
Source:
Dcmetrorealtyteam
Added: Sep 17
Changed: Oct 3
Last Checked: Oct 5 at 11:50PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 15th-floor corner condominium includes two bedrooms and two bathrooms, with a comprehensive set of interior updates. Improvements include luxury vinyl plank flooring, repainted and leveled walls, custom closet organizers, replacement closet doors, and new window coverings. The kitchen has new cabinetry, stainless steel appliances, and granite counters. Both bathrooms were rebuilt with new tubs, toilets, vanities, lighted mirrors, and heated flooring. The unit also includes an in-home washer and dryer, an updated HVAC system, and a water heater replaced in 2023.
Building amenities include a fitness center, swimming pool, jetted spa, 24-hour concierge, grilling and picnic areas, and a secure parking garage. Two garage parking spaces convey with the residence. The property is across from the Huntington Metro and provides access to I-495, Old Town Alexandria, National Harbor, Amazon HQ2, and Washington, D.C.
Building amenities include a fitness center, swimming pool, jetted spa, 24-hour concierge, grilling and picnic areas, and a secure parking garage. Two garage parking spaces convey with the residence. The property is across from the Huntington Metro and provides access to I-495, Old Town Alexandria, National Harbor, Amazon HQ2, and Washington, D.C.
Key Highlights
- 15th‑floor corner unit with 2 bedrooms and 2 bathrooms
- Fully renovated bathrooms with heated floors and lighted mirrors
- Kitchen updated with new cabinetry, stainless steel appliances, and granite counters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,525
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,500
$330.5K
Cap Rate 7%
$236,071
$236.1K
Cap Rate 9%
$183,611
$183.6K
Market Conditions
NOI Build-Up for 1,078 SF
Gross rent
$31.7K $29.40/SF
− Vacancy
−$1.6K −$1.53/SF
EGI
$30.0K $27.87/SF
− OpEx
−$13.5K −$12.54/SF
NOI
$16.5K $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%
$330,500
Cap Rate 7%
$236,071
Cap Rate 9%
$183,611
Alternative Uses
Best Use
Apartment 5plus
$236.1K
$206.6K – $275.4K
NOI $16,525 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$598.8K
$523.9K – $698.6K
NOI $41,913 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
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 - Two-bedroom condominium residence with updated interiors, smart-home features, and two assigned garage spaces.
Where is this residential income property located?
The property is located at 2451 MIDTOWN AVENUE Unit 1501 Alexandria, VA.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 15th‑floor corner unit with 2 bedrooms and 2 bathrooms; Fully renovated bathrooms with heated floors and lighted mirrors; Kitchen updated with new cabinetry, stainless steel appliances, and granite counters
