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    808 W 29th Place Anchorage, AK 99503

    View on Map
    For Sale
    $1,599,900

    MULTI_FAMILY - Anchorage, AK

    Property size:
    11,420 SF
    Lot size:
    0.26 Acres
    Added:
    Aug 11, 2025
    Days on Market:
    234
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 808 W 29th Place

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R3 - Multiple Family Resi
    Bedrooms
    30
    Bathrooms
    16
    Rooms
    Bedroom 26, Bedroom 28, Bathroom 8, Bedroom 27, Bathroom 6, Bedroom 22, Bedroom 15, Bathroom 3, Bathroom 15, Bedroom 25, Bedroom 21, Bedroom 8, Bedroom 29, Bedroom 9, Bedroom 23, Bathroom 12, Bedroom 12, Bedroom 4, Bathroom 7, Bedroom 17, Bedroom 10, Bathroom 14, Bedroom 13, Bedroom 7, Bathroom 4, Bedroom 18, Bedroom 30, Bathroom 1, Bedroom 16, Bedroom 14, Bathroom 13, Bedroom 19, Bedroom 2, Bedroom 11, Bathroom 2, Bathroom 16, Bedroom 3, Bathroom 9, Bathroom 10, Bathroom 11, Bathroom 5, Bedroom 6, Bedroom 5, Bedroom 20, Bedroom 1, Bedroom 24
    Standard status
    Active
    APN
    0100154200001
    Size
    11,420 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    TaxDescription
    Bogoys L24 B1

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1963
    Number of units
    16
    Building materials
    Wood Frame

    We can help!

    Listing Contact
    Peter Carpenter

    Listing agent Peter Carpenter License #110384

    Listing office EXP Realty, LLC 3705 Arctic Blvd #292, Anchorage, AK

    Listing date Aug 11, 2025

    MLS# 25-10364

    Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Anchorage Multifamily Investment Opportunity

    This side-by-side 8-plex in Midtown Anchorage features 14 two-bedroom units and 2 one-bedroom units. Situated on a 0.26-acre lot, the property encompasses 11,420 square feet. The buildings have undergone recent updates, including roofs, boilers, windows, decks, and stairs. Most of the units have been updated within the last 5 years. The property's R3 zoning allows for multiple-family residential use. Its proximity to the airport makes it suitable for short-term rentals. The buildings are professionally managed and the current capitalization rate is almost 8%.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Map

    City
    Anchorage
    County
    Anchorage
    State
    Alaska
    Longitude
    -149.8993394
    Latitude
    61.1936824

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    FAQs

    What type of property is this?
    Apartment building - Midtown Anchorage 8-plex with updated units and income potential.
    Where is this apartment building located?
    The property is located at 808 W 29th Place Anchorage, AK.
    What is the asking price?
    The asking price for this property is $1,599,900.
    What are key features of this property?
    This property features: High Cap Rate: Current cap rate is almost 8%.; Updated Infrastructure: **Roofs, boilers, windows, decks, and stairs have been recently updated.**; Updated Units: Most units have been updated in the last 5 years.
    (907) 854-8404
    We can help!
    Listing Contact
    Peter Carpenter
    Real Estate License ID: 110384
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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