Three-Level Furnished Apartment
For Sale
$1,525,000
3104 Eide St, Anchorage, AK 99503
Furnished accommodations include one-bedroom units and rooming-house rooms with shared bathrooms.
Property Size7,560 SF
Price / SF$201.72
Days on Market65
Property Features for 3104 Eide St
General Information
Standard status
Active
Size
7,560 SF
Property subtype
Residential Income
Units
Unit Mix
10 x 1BR
Multifamily Units
10
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$14,300
Amenities
laundry room
Building Details
Buildings
1
Stories
3
Listing Agency:
Real Broker Alaska
(907) 229-8993
Listed By:
Rene' C Kennicott
(907) 229-8993
Source:
Exprealty
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 10 at 9:33AM
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 Real Broker Alaska
Investment Insights
Based on property information with market context.
This three-level apartment building contains 7,560 square feet and combines conventional apartment units with rooming-house accommodations. The upper floors include 10 furnished one-bedroom units, while the lower level provides five furnished bedrooms, common bathrooms, a utility room, and laundry facilities. The property is also furnished throughout and includes off-street parking plus a designated area for snow storage.
Licensed and certified as a rooming or boarding house, the building permits daily rentals and can function in a hotel or hostel format. The lower level meets assisted living home standards, adding another documented operating configuration. Located at 3104 Eide St in Anchorage, the property offers multiple furnished accommodation formats within one building.
Licensed and certified as a rooming or boarding house, the building permits daily rentals and can function in a hotel or hostel format. The lower level meets assisted living home standards, adding another documented operating configuration. Located at 3104 Eide St in Anchorage, the property offers multiple furnished accommodation formats within one building.
Key Highlights
- 7,560‑square‑foot, three‑level apartment building
- 10 furnished one‑bedroom units on the upper levels
- Lower level includes 5 bedrooms, common bathrooms, utility room, and laundry room
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
$97,172
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
6.37%
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%
$1,943,440
$1.9M
Cap Rate 7%
$1,388,171
$1.4M
Cap Rate 9%
$1,079,689
$1.1M
Market Conditions
NOI Build-Up for 7,560 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
$186.0K $24.60/SF
− Vacancy
−$9.3K −$1.23/SF
EGI
$176.7K $23.37/SF
− OpEx
−$79.5K −$10.52/SF
NOI
$97.2K $12.85/SF
Area
Anchorage, AK
Vacancy
5.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,943,440
Cap Rate 7%
$1,388,171
Cap Rate 9%
$1,079,689
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.21M – $1.62M
NOI $97,172 @ 7.0% cap · market cap 6.37%
Second Best
Hotel Hospitality
$507.9K
$444.4K – $592.5K
NOI $35,551 @ 7.0% cap · market cap 2.33%
Theoretical Best
Specialty Retail
$2.05M
$1.80M – $2.40M
NOI $143,700 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Demographics for 99503, AK
13,550
Population
7,411
Households
1.8
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
20.7 sq mi
ZIP Area
655
Density / Sq Mi
$76,888
Median Household Income
$46,734
Median Earnings
$1,185
Median Rent
$316,700
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?
Apartment building - Furnished accommodations include one-bedroom units and rooming-house rooms with shared bathrooms.
Where is this apartment building located?
The property is located at 3104 Eide St Anchorage, AK.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: 7,560‑square‑foot, three‑level apartment building; 10 furnished one‑bedroom units on the upper levels; Lower level includes 5 bedrooms, common bathrooms, utility room, and laundry room
