Duplex with In-Unit
For Sale
$599,900
1633 Northwestern Ave, Anchorage, AK 99508
Two residential units offer open layouts, private laundry, and attached one-car garages.
Property Size2,302 SF
Price / SF$260.60
Days on Market11
Property Features for 1633 Northwestern Ave
General Information
Standard status
Active
Size
2,302 SF
Property subtype
Multi-Family
Building Details
Year Built
1969
Listing Agency:
Real Broker Alaska
(855) 450-0442
Listed By:
Yvan C Corbin
Source:
Sellingalaskaco
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 25 at 6:35AM
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 Real Broker Alaska
Investment Insights
Based on property information with market context.
Built in 1969, this 2,302-square-foot duplex contains two residential units with practical layouts and well-maintained interiors. Each unit includes an open-concept living area, 3 bedrooms, 1 full bathroom, in-unit laundry, and a 1-car garage. The configuration supports both owner occupancy with rental income from the second unit and continued use as a fully income-producing property.
The property is located near the university, shopping, hospitals, and everyday amenities. The owners report a rental history with no difficulty renting either unit, providing documented operating context for prospective buyers evaluating the duplex as a residential income property.
The property is located near the university, shopping, hospitals, and everyday amenities. The owners report a rental history with no difficulty renting either unit, providing documented operating context for prospective buyers evaluating the duplex as a residential income property.
Key Highlights
- 2,302‑square‑foot duplex built in 1969
- Each unit includes 3 bedrooms and 1 full bathroom
- Open‑concept living areas in both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,806
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$676,120
$676.1K
Cap Rate 7%
$482,943
$482.9K
Cap Rate 9%
$375,622
$375.6K
Market Conditions
NOI Build-Up for 2,302 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.1K $22.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$48.3K $20.98/SF
− OpEx
−$14.5K −$6.29/SF
NOI
$33.8K $14.69/SF
Area
Anchorage, AK
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$676,120
Cap Rate 7%
$482,943
Cap Rate 9%
$375,622
Alternative Uses
Best Use
Multifamily LT 5
$482.9K
$422.6K – $563.4K
NOI $33,806 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$422.7K
$369.9K – $493.2K
NOI $29,589 @ 7.0% cap · market cap 4.93%
Theoretical Best
Specialty Retail
$625.1K
$547.0K – $729.3K
NOI $43,756 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 99508, AK
34,394
Population
14,219
Households
2.4
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
4,844
Density / Sq Mi
$72,751
Median Household Income
$40,937
Median Earnings
$1,353
Median Rent
$309,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer open layouts, private laundry, and attached one-car garages.
Where is this duplex located?
The property is located at 1633 Northwestern Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,302‑square‑foot duplex built in 1969; Each unit includes 3 bedrooms and 1 full bathroom; Open‑concept living areas in both units
