Building Details

Year Built 1985

Listing Agency: RE/MAX Dynamic Properties - Eagle River Branch

Listed By: Bryan J Trombley · License #129408 Show Phone

Source: Viewanchoragehouses

Added: Apr 4 Changed: Oct 1 Last Checked: Oct 14 at 11:49PM

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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 - Eagle River Branch

Investment Insights

Based on property information with market context.

This 8,320-square-foot multifamily property was built in 1985 and has spacious units occupied by long-term tenants. Recent property improvements include a new roof, septic system, and well. The site also provides additional parking along with grass areas, giving the property useful outdoor space.

Located at 22647 Sherman St in Chugiak, Alaska, the property is positioned in a residential setting with commute access noted in the property information. The asset has been owned by one owner and presents an established multifamily configuration with existing tenancy and recently completed major system updates.

Key Highlights

• 8,320‑square‑foot multifamily property built in 1985
• New roof, septic system, and well
• Spacious units with long‑term tenants

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$83,294

Cap Rate

5.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,665,880 $1.7M

Cap Rate 7%

$1,189,914 $1.2M

Cap Rate 9%

$925,489 $925.5K

Market Conditions

NOI Build-Up for 8,320 SF

Gross rent

$158.7K $19.08/SF

− Vacancy

−$7.3K −$0.88/SF

EGI

$151.4K $18.20/SF

− OpEx

−$68.1K −$8.19/SF

NOI

$83.3K $10.01/SF

Area

Anchorage County, AK

Vacancy

4.60%

Lease Rate

$19.08 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,665,880

Cap Rate 7%

$1,189,914

Cap Rate 9%

$925,489

Alternative Uses

Best Use

Apartment 5plus

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,294 @ 7.0% cap · market cap 5.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.18M

$1.91M – $2.54M (±1% cap)

NOI $152,524 @ 7.0% cap · market cap 10.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Multifamily properties

Location Intelligence

Demographics for 99567, AK

9,036

Population

3,156

Households

2.9

Avg Household Size

39

Median Age

41%

College-Educated

96%

High-School Grad

675.2 sq mi

ZIP Area

13

Density / Sq Mi

$128,250

Median Household Income

$46,567

Median Earnings

$1,193

Median Rent

$437,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Multifamily property - Spacious units, a new roof, and on-site parking define this established multifamily property.

Where is this multifamily property located?

The property is located at 22647 Sherman St Chugiak, AK.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 8,320‑square‑foot multifamily property built in 1985; New roof, septic system, and well; Spacious units with long‑term tenants