Renovated Spenard 12-Plex For
2314 Jefferson Avenue, Anchorage, AK 99517
Fully renovated, low-maintenance 12-unit apartment building in Spenard.
Type:Multifamily
Property size:
10,880 SFPrice / SF:
$174/SF- Added:
- May 11, 2026
- Days on Market:
- 17
- Last Refresh:
- May 16 at 8:40 pm
Property Features for 2314 Jefferson Avenue
General Information
- Standard status
- Active
- Size
- 10,880 SF
- Property subtype
- Multifamily
Listing agent Ayla King License #AK.18460
Listing office Buyers Real Estate, LLC
Listing date May 11, 2026
Source Crexi
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
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.
- Recent major upgrades: Roofs resurfaced and water heaters replaced in 2023/2024.
- Desirable amenities: Private washer/dryers & balconies for upper units; heated & secure tenant storage.
- Prime location: Excellent access to trails, dining, conveniences, and only 5 minutes from the airport.
Overview
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.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.55M
NOI $139,846 @ 9.00% cap · cautious / downside scenario
Moderate
$2.00M
NOI $139,846 @ 7.00% cap · market / base-case scenario
Aggressive
$2.80M
NOI $139,846 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| 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 Use Scenarios
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.
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Anchorage
- County
- Anchorage
- State
- Alaska
- Longitude
- -149.9271031
- Latitude
- 61.1822908
Nearby Similar for Sale
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.
