Renovated
For Sale
$560,000
Pending
246 Oklahoma St, Anchorage, AK 99504
Two-unit residential property with updated interiors, new roofing, and completed exterior improvements.
Property Size2,288 SF
Days on Market19
Property Features for 246 Oklahoma St
General Information
Standard status
Pending
Size
2,288 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
landscaping
Listing Agency:
LPT Realty
(907) 272-6580
Listed By:
Robert J Potter
(907) 272-6580
Source:
Exprealty
Added: Jul 24
Changed: Aug 5
Last Checked: Aug 10 at 8:01AM
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 LPT Realty
Investment Insights
Based on property information with market context.
This two-unit duplex at 246 Oklahoma St in Anchorage includes 2,288 square feet of residential space. Both units received recent improvements, including new flooring, updated kitchens, refreshed bathrooms, and interior paint. Exterior work includes a new roof, gutters, and professional landscaping.
The property has not been occupied since the improvements were completed. The two-unit configuration and extensive renovation scope provide a recently upgraded residential income asset with no stated deferred maintenance.
The property has not been occupied since the improvements were completed. The two-unit configuration and extensive renovation scope provide a recently upgraded residential income asset with no stated deferred maintenance.
Key Highlights
- Two‑unit duplex with 2,288 square feet
- New flooring installed throughout both units
- Updated kitchens and modern bathrooms
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
$33,600
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
6.00%
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%
$672,000
$672.0K
Cap Rate 7%
$480,000
$480.0K
Cap Rate 9%
$373,333
$373.3K
Market Conditions
NOI Build-Up for 2,288 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
$50.8K $22.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$48.0K $20.98/SF
− OpEx
−$14.4K −$6.29/SF
NOI
$33.6K $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%
$672,000
Cap Rate 7%
$480,000
Cap Rate 9%
$373,333
Alternative Uses
Best Use
Multifamily LT 5
$480.0K
$420.0K – $560.0K
NOI $33,600 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$420.1K
$367.6K – $490.2K
NOI $29,409 @ 7.0% cap · market cap 5.25%
Theoretical Best
Specialty Retail
$621.3K
$543.6K – $724.8K
NOI $43,490 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Demographics for 99504, AK
42,375
Population
17,720
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
91%
High-School Grad
36.8 sq mi
ZIP Area
1,151
Density / Sq Mi
$83,338
Median Household Income
$46,883
Median Earnings
$1,529
Median Rent
$309,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with updated interiors, new roofing, and completed exterior improvements.
Where is this duplex located?
The property is located at 246 Oklahoma St Anchorage, AK.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,288 square feet; New flooring installed throughout both units; Updated kitchens and modern bathrooms
