Multifamily Property Near
For Sale
$399,900
2213 Eagle St, Anchorage, AK 99503
Built in 1959, the property benefits from city-water service, nearby public transportation, and direct access to Chester Park Trail.
Property Size2,340 SF
Lot Size0.26 Acres
Price / SF$170.90
Days on Market55
Property Features for 2213 Eagle St
General Information
Standard status
Active
Size
2,340 SF
Lot size
0.26 Acres
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Building Details
Year Built
1959
Listing Agency:
Real Broker Alaska
Listed By:
Bernard T Powell · License #17228
(907) 382-3322
Source:
Sellingalaskaco
Added: Jul 10
Changed: Aug 29
Last Checked: Sep 1 at 9:09PM
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.
This multifamily property at 2213 Eagle Street in Anchorage sits on an 11,200-square-foot lot and was built in 1959. The property was upgraded to city water a few months ago.
Chester Park Trail is immediately accessible from the property, while public transportation is located nearby. The combination of an established multifamily asset, trail access, transit proximity, and city-water service defines the primary physical and location features.
Chester Park Trail is immediately accessible from the property, while public transportation is located nearby. The combination of an established multifamily asset, trail access, transit proximity, and city-water service defines the primary physical and location features.
Key Highlights
- 11,200‑square‑foot lot
- Built in 1959
- Chester Park Trail immediately accessible from the property
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
$30,077
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
7.52%
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%
$601,540
$601.5K
Cap Rate 7%
$429,671
$429.7K
Cap Rate 9%
$334,189
$334.2K
Market Conditions
NOI Build-Up for 2,340 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
$57.6K $24.60/SF
− Vacancy
−$2.9K −$1.23/SF
EGI
$54.7K $23.37/SF
− OpEx
−$24.6K −$10.52/SF
NOI
$30.1K $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 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%
$601,540
Cap Rate 7%
$429,671
Cap Rate 9%
$334,189
Alternative Uses
Best Use
Apartment 5plus
$429.7K
$376.0K – $501.3K
NOI $30,077 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$635.4K
$556.0K – $741.3K
NOI $44,479 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Demographics for 99503, AK
13,550
Population
7,411
Households
1.8
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
20.7 sq mi
ZIP Area
655
Density / Sq Mi
$76,888
Median Household Income
$46,734
Median Earnings
$1,185
Median Rent
$316,700
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?
Multifamily property - Built in 1959, the property benefits from city-water service, nearby public transportation, and direct access to Chester Park Trail.
Where is this multifamily property located?
The property is located at 2213 Eagle St Anchorage, AK.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 11,200‑square‑foot lot; Built in 1959; Chester Park Trail immediately accessible from the property
