Six-Unit Multifamily
For Sale
$685,000
3217 Oregon Dr, Anchorage, AK 99517
Duplex and fourplex improvements provide a varied residential rental configuration on one lot.
Property Size4,846 SF
Price / SF$141.35
Days on Market18
Property Features for 3217 Oregon Dr
General Information
Standard status
Active
Size
4,846 SF
Property subtype
Multi-Family
Units
Unit Mix
5 x 2BR/1BA, 1 x efficiency
Multifamily Units
6
Building Details
Year Built
1971
Buildings
2
Listing Agency:
Real Broker Alaska
(907) 529-2289
Listed By:
Kevin B Cross · License #17358
Source:
Sellingalaskaco
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 29 at 11:46PM
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 multifamily property combines a duplex and a fourplex on one lot, with 4,846 square feet of improvements constructed in 1971. The unit mix includes five two-bedroom, one-bath residences and one efficiency, providing multiple residential layouts within the same property.
Utility arrangements vary by building. Residents in the fourplex pay their own electric service, while rents for the duplex units include all utilities. The property is located in Anchorage, Alaska, at 3217 Oregon Dr.
Utility arrangements vary by building. Residents in the fourplex pay their own electric service, while rents for the duplex units include all utilities. The property is located in Anchorage, Alaska, at 3217 Oregon Dr.
Key Highlights
- Six units comprising five 2bed/1bath units and one efficiency
- Duplex and fourplex situated on one lot
- 4,846 square feet of property size
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
$62,288
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
9.09%
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%
$1,245,760
$1.2M
Cap Rate 7%
$889,829
$889.8K
Cap Rate 9%
$692,089
$692.1K
Market Conditions
NOI Build-Up for 4,846 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
$119.2K $24.60/SF
− Vacancy
−$6.0K −$1.23/SF
EGI
$113.3K $23.37/SF
− OpEx
−$51.0K −$10.52/SF
NOI
$62.3K $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%
$1,245,760
Cap Rate 7%
$889,829
Cap Rate 9%
$692,089
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$889.6K – $1.19M
NOI $71,165 @ 7.0% cap · market cap 10.39%
Second Best
Apartment 5plus
$889.8K
$778.6K – $1.04M
NOI $62,288 @ 7.0% cap · market cap 9.09%
Theoretical Best
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,113 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Duplex and fourplex improvements provide a varied residential rental configuration on one lot.
Where is this multifamily property located?
The property is located at 3217 Oregon Dr Anchorage, AK.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Six units comprising five 2bed/1bath units and one efficiency; Duplex and fourplex situated on one lot; 4,846 square feet of property size
