Four-Unit Quadplex with Heated
For Sale
$920,000
1681 Elcadore Dr, Anchorage, AK 99507
Four residences offer dedicated parking and private laundry facilities.
Property Size3,968 SF
Price / SF$231.85
Days on Market24
Property Features for 1681 Elcadore Dr
General Information
Standard status
Active
Size
3,968 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1.75BA, 2 x 2BR/1BA
Multifamily Units
4
Amenities
in-unit washer and dryer
heated garage
private rear decks
upper balconies
Listing Agency:
RE/MAX Dynamic Properties
(907) 280-7789
Listed By:
Elisabeth Wilson
(907) 280-7789
Source:
Exprealty
Added: Jul 31
Changed: Aug 20
Last Checked: Aug 23 at 4:08AM
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 RE/MAX Dynamic Properties
Investment Insights
Based on property information with market context.
This 3,968-square-foot quadplex contains four two-bedroom residences, with two units configured with 1.75 bathrooms and two offering one bathroom. Each unit has its own heated garage, in-unit washer and dryer, and a functional living arrangement. Outdoor amenities include private rear decks for the 1.75-bath residences and two upper balconies for each one-bath residence.
Located at 1681 Elcadore Dr in Anchorage, the property is positioned in South Anchorage near shopping, restaurants, parks, trails, and schools. The combination of four similarly sized bedroom configurations, individual garages, laundry equipment, and unit-specific outdoor areas supports both rental and owner-occupant use.
Located at 1681 Elcadore Dr in Anchorage, the property is positioned in South Anchorage near shopping, restaurants, parks, trails, and schools. The combination of four similarly sized bedroom configurations, individual garages, laundry equipment, and unit-specific outdoor areas supports both rental and owner-occupant use.
Key Highlights
- 3,968 SF quadplex with four 2‑bedroom units
- Unit mix includes two 1.75‑bath residences and two 1‑bath residences
- Each unit includes its own heated garage
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
$58,271
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
6.33%
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%
$1,165,420
$1.2M
Cap Rate 7%
$832,443
$832.4K
Cap Rate 9%
$647,456
$647.5K
Market Conditions
NOI Build-Up for 3,968 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
$88.1K $22.20/SF
− Vacancy
−$4.8K −$1.22/SF
EGI
$83.2K $20.98/SF
− OpEx
−$25.0K −$6.29/SF
NOI
$58.3K $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%
$1,165,420
Cap Rate 7%
$832,443
Cap Rate 9%
$647,456
Alternative Uses
Best Use
Multifamily LT 5
$832.4K
$728.4K – $971.2K
NOI $58,271 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$728.6K
$637.5K – $850.1K
NOI $51,003 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$1.08M
$942.8K – $1.26M
NOI $75,424 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Demographics for 99507, AK
38,199
Population
14,552
Households
2.6
Avg Household Size
36
Median Age
38%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
808
Density / Sq Mi
$107,347
Median Household Income
$55,197
Median Earnings
$1,546
Median Rent
$371,200
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?
Quadplex - Four residences offer dedicated parking and private laundry facilities.
Where is this quadplex located?
The property is located at 1681 Elcadore Dr Anchorage, AK.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: 3,968 SF quadplex with four 2‑bedroom units; Unit mix includes two 1.75‑bath residences and two 1‑bath residences; Each unit includes its own heated garage
