Renovated Spenard 12-Plex For
2314 Jefferson Avenue Anchorage, AK 99517
2314 Jefferson Avenue, Anchorage, AK, 99517
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For Sale
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Fully renovated, low-maintenance 12-unit apartment building in Spenard.
Property Size10,880 SF
Price / SF$174.17
Days on Market69
Property Features for 2314 Jefferson Avenue
General Information
- Standard status
- Active
- Size
- 10,880 SF
- Property subtype
- Multifamily
Listing Agency
Buyers Real Estate, LLC
Listed by
Ayla King · License #AK.18460
Source
Crexi
Added: May 11 Checked: Jul 17 at 10:16 am
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 Buyers Real Estate, LLC
Investment Insights
Based on property information with market context.
This is a fully renovated and low-maintenance 12-plex located in the Spenard area. The property features a mix of eight 2-bedroom units and four 1-bedroom units. All units underwent a stud-out remodel in 2023-2024, including new windows and sliding doors, upgraded electrical lines, and new 4-inch plumbing lines, appliances, and cosmetics. Second and third-floor units include private washers and dryers and balconies, while lower units have shared laundry facilities. The property also includes heated and secure tenant storage. The roofs were resurfaced in 2023, and the water heaters were replaced in 2023 and 2024. The boilers have been well maintained. The current rent roll is $20,000 per month with scheduled increases, and the tenants are creditworthy. Utilities are currently included in the rent, with potential for future rental increases. The location offers nearby trail access, dining, and conveniences and is located 5 minutes from the airport.
Key Highlights
- Fully renovated in 2023‑2024 with stud‑out remodel of all 12 units including new windows/sliding doors, upgraded electrical, new plumbing, appliances, and cosmetics.
- Strong income potential: $20K/month rent roll with scheduled increases and creditworthy tenants.
- Balanced unit mix: Eight 2‑bedroom and four 1‑bedroom units for stable occupancy.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $267.6k | $24.60 |
| − Vacancy | −$13.4k | −$1.23 |
| EGI | $254.3k | $23.37 |
| − OpEx | −$114.4k | −$10.52 |
| NOI | $139.8k | $12.85 |
10,880 SF · lease $24.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.00M
$1.75M – $2.33M
NOI $139,846 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.95M
$2.59M – $3.45M
NOI $206,807 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully renovated, low-maintenance 12-unit apartment building in Spenard.
Where is this apartment building located?
The property is located at 2314 Jefferson Avenue Anchorage, AK.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Fully renovated in 2023‑2024 with stud‑out remodel of all 12 units including new windows/sliding doors, upgraded electrical, new plumbing, appliances, and cosmetics.; Strong income potential: $20K/month rent roll with scheduled increases and creditworthy tenants.; Balanced unit mix: Eight 2‑bedroom and four 1‑bedroom units for stable occupancy.
