Duplex With Upper
For Sale
$365,000
3111 W 33rd Ave, Anchorage, AK 99517
Two similar units offer separate electric metering, private storage, a carport, and access to a fenced side yard.
Property Size1,824 SF
Price / SF$200.11
Days on Market13
Property Features for 3111 W 33rd Ave
General Information
Standard status
Active
Size
1,824 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
bring your updates
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,501
Amenities
carport
private storage
upper deck
fenced side yard
Building Details
Buildings
1
Listing Agency:
RE/MAX Dynamic Properties
(907) 227-6794
Listed By:
Elizabeth Hooper · License #14367
(907) 227-6794
Source:
Exprealty
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 23 at 3:27AM
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 RE/MAX Dynamic Properties
Investment Insights
Based on property information with market context.
This 1,824-square-foot duplex contains two near-identical units with separate electric meters, private storage, and a carport. An upper deck faces west and leads toward a fenced side yard. The property also includes a metal roof, a Navien boiler, and a Dunkirk direct hot water heater installed in 2022.
The duplex is located at 3111 W 33rd Ave in Anchorage, directly across from Balto Seppala Park. One unit is currently rented. The property is being sold AS-IS, providing a clear opportunity for a purchaser to complete updates.
The duplex is located at 3111 W 33rd Ave in Anchorage, directly across from Balto Seppala Park. One unit is currently rented. The property is being sold AS-IS, providing a clear opportunity for a purchaser to complete updates.
Key Highlights
- 1,824‑square‑foot duplex with two near‑identical units
- Separate electric meters serving each unit
- West‑facing upper deck connected to a fenced side yard
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
$26,786
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
7.34%
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%
$535,720
$535.7K
Cap Rate 7%
$382,657
$382.7K
Cap Rate 9%
$297,622
$297.6K
Market Conditions
NOI Build-Up for 1,824 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
$40.5K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$38.3K $20.98/SF
− OpEx
−$11.5K −$6.29/SF
NOI
$26.8K $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%
$535,720
Cap Rate 7%
$382,657
Cap Rate 9%
$297,622
Alternative Uses
Best Use
Multifamily LT 5
$382.7K
$334.8K – $446.4K
NOI $26,786 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$334.9K
$293.1K – $390.8K
NOI $23,445 @ 7.0% cap · market cap 6.42%
Theoretical Best
Specialty Retail
$495.3K
$433.4K – $577.9K
NOI $34,671 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two similar units offer separate electric metering, private storage, a carport, and access to a fenced side yard.
Where is this duplex located?
The property is located at 3111 W 33rd Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1,824‑square‑foot duplex with two near‑identical units; Separate electric meters serving each unit; West‑facing upper deck connected to a fenced side yard
