Duplex with Separate
New
For Sale
$650,000
2506 W 34th Avenue, Anchorage, AK 99517
Two separately metered units support flexible owner-occupant and rental arrangements.
Property Size3,760 SF
Days on Market3
Property Features for 2506 W 34th Avenue
General Information
Standard status
Active
Size
3,760 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/3BA, 1 x 1BR/2BA
Multifamily Units
2
Amenities
decks
storage
attached garage
backyard
Building Details
Building Size
3,760 SF
Year Built
1972
Buildings
1
Listing Agency:
KW Regal North Commercial
Listed By:
Joseph E Lumpkin · License #17281
(907) 276-6784
Source:
Keiradrehergroup.kw
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 3:14PM
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 KW Regal North Commercial
Investment Insights
Based on property information with market context.
Built in 1972, this duplex includes a four-bedroom, three-bath main residence and an approximately 1,486-square-foot lower-level unit. The secondary unit provides one bedroom, two full baths, a full kitchen, and private laundry, creating distinct living spaces within the property. Expansive decks, substantial storage, an oversized attached garage, and a large backyard add to the physical features. Recent improvements include upstairs carpeting, appliances, a newer furnace, and new water heaters.
The property adjoins Fish Creek Trail and offers separately metered units. Its configuration supports living in one residence while renting the other, with long- or short-term rental use identified as potential operating options.
The property adjoins Fish Creek Trail and offers separately metered units. Its configuration supports living in one residence while renting the other, with long- or short-term rental use identified as potential operating options.
Key Highlights
- Main unit offers 4 bedrooms and 3 full baths
- Approximately 1,486 SF lower‑level unit with 1 bedroom and 2 full baths
- Lower unit includes a full kitchen and private laundry
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
$55,217
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
8.49%
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%
$1,104,340
$1.1M
Cap Rate 7%
$788,814
$788.8K
Cap Rate 9%
$613,522
$613.5K
Market Conditions
NOI Build-Up for 3,760 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
$83.5K $22.20/SF
− Vacancy
−$4.6K −$1.22/SF
EGI
$78.9K $20.98/SF
− OpEx
−$23.7K −$6.29/SF
NOI
$55.2K $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%
$1,104,340
Cap Rate 7%
$788,814
Cap Rate 9%
$613,522
Alternative Uses
Best Use
Multifamily LT 5
$788.8K
$690.2K – $920.3K
NOI $55,217 @ 7.0% cap · market cap 8.49%
Second Best
Apartment 5plus
$690.4K
$604.1K – $805.5K
NOI $48,329 @ 7.0% cap · market cap 7.44%
Theoretical Best
Specialty Retail
$1.02M
$893.4K – $1.19M
NOI $71,470 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Demographics for 99517, AK
16,307
Population
7,718
Households
2.1
Avg Household Size
39
Median Age
40%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
5,096
Density / Sq Mi
$99,307
Median Household Income
$57,466
Median Earnings
$1,364
Median Rent
$365,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 separately metered units support flexible owner-occupant and rental arrangements.
Where is this duplex located?
The property is located at 2506 W 34th Avenue Anchorage, AK.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Main unit offers 4 bedrooms and 3 full baths; Approximately 1,486 SF lower‑level unit with 1 bedroom and 2 full baths; Lower unit includes a full kitchen and private laundry
