Eight-Bedroom Multifamily
For Sale
$1,150,000
16528 Kings Way Dr, Anchorage, AK 99516
Flexible residence with private suites, separate access points, and features suited to shared living or small-scale hospitality use.
Property Size7,316 SF
Lot Size13.57 Acres
Price / SF$157.19
Days on Market52
Property Features for 16528 Kings Way Dr
General Information
Standard status
Active
Size
7,316 SF
Lot size
13.57 Acres
Building Details
Year Built
2002
Listing Agency:
Alaska Statewide Realty Co
Listed By:
Drew P Jones
(907) 300-6802
Source:
Kristancole
Added: Aug 25
Changed: Oct 5
Last Checked: Oct 7 at 3:08PM
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 Alaska Statewide Realty Co
Investment Insights
Based on property information with market context.
Built in 2002, this 7,316-square-foot multifamily property combines a purpose-built residential layout with single-family zoning. The eight-bedroom, nine-bath configuration includes multiple private suites, many with ensuite baths and decks or patios. Separate access points and a top-floor owner’s retreat support privacy within the larger residence. Radiant-floor heat, concrete floors, metal siding, and a metal roof provide durable four-season improvements, while strong well water serves the property.
The 13.57-acre setting includes a pond and Little Rabbit Creek. A three-car heated garage and RV parking add functional capacity. Bear Valley’s single-entry setting offers a private neighborhood environment, with a stated 20–25 minute drive to the airport, midtown, and downtown Anchorage. The property was designed with B&B and retreat use in mind and can also accommodate guests, renters, or extended family.
The 13.57-acre setting includes a pond and Little Rabbit Creek. A three-car heated garage and RV parking add functional capacity. Bear Valley’s single-entry setting offers a private neighborhood environment, with a stated 20–25 minute drive to the airport, midtown, and downtown Anchorage. The property was designed with B&B and retreat use in mind and can also accommodate guests, renters, or extended family.
Key Highlights
- 13.57‑acre Bear Valley property with a pond and Little Rabbit Creek
- 7,316 square feet with an eight‑bedroom, nine‑bath layout
- Multiple private suites with ensuite baths and decks or patios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,036
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,880,720
$1.9M
Cap Rate 7%
$1,343,371
$1.3M
Cap Rate 9%
$1,044,844
$1.0M
Market Conditions
NOI Build-Up for 7,316 SF
Gross rent
$180.0K $24.60/SF
− Vacancy
−$9.0K −$1.23/SF
EGI
$171.0K $23.37/SF
− OpEx
−$76.9K −$10.52/SF
NOI
$94.0K $12.85/SF
Area
Anchorage, AK
Vacancy
5.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,880,720
Cap Rate 7%
$1,343,371
Cap Rate 9%
$1,044,844
Alternative Uses
Best Use
Apartment 5plus
$1.34M
$1.18M – $1.57M
NOI $94,036 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,063 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Demographics for 99516, AK
21,786
Population
7,544
Households
2.9
Avg Household Size
42
Median Age
56%
College-Educated
97%
High-School Grad
43.9 sq mi
ZIP Area
496
Density / Sq Mi
$160,341
Median Household Income
$70,998
Median Earnings
$1,284
Median Rent
$576,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Flexible residence with private suites, separate access points, and features suited to shared living or small-scale hospitality use.
Where is this multifamily property located?
The property is located at 16528 Kings Way Dr Anchorage, AK.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 13.57‑acre Bear Valley property with a pond and Little Rabbit Creek; 7,316 square feet with an eight‑bedroom, nine‑bath layout; Multiple private suites with ensuite baths and decks or patios
