Duplex with Separate
New
For Sale
$935,000
3320 Omalley Rd, Anchorage, AK 99516
A second driveway and separate entrance provide distinct access to the apartment and heated office/shop.
Property Size4,700 SF
Price / SF$198.94
Days on Market5
Property Features for 3320 Omalley Rd
General Information
Standard status
Active
Size
4,700 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Huffman/Omalley
Road Access
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1958
Year Renovated
1978
Listing Agency:
Buyers Real Estate, LLC
Listed By:
Ayla L King · License #AK.18460
(907) 561-2227
Source:
Seehomesinalaska
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 25 at 2:41AM
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 Buyers Real Estate, LLC
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Investment Insights
Based on property information with market context.
Set on nearly 2 acres, this duplex pairs a 3-bedroom, 2-bathroom main residence with a separate walk-out apartment offering 2 bedrooms and 1 bathroom. The apartment has an updated kitchen, its own washer and dryer, and a separate driveway. The main home includes a remodeled kitchen, media room, office/shop, garage, and additional storage. A heated workspace has a private entrance, while a lower-level room connects to a second driveway.
The property has dual access from Cange and O'Malley. Outdoor improvements include an 8-foot cedar fence, a wood shed, a Connex with shelving and electricity, and two additional large sheds. An original homestead cabin remains at the rear of the property.
The property has dual access from Cange and O'Malley. Outdoor improvements include an 8-foot cedar fence, a wood shed, a Connex with shelving and electricity, and two additional large sheds. An original homestead cabin remains at the rear of the property.
Key Highlights
- Nearly 2 acres with dual access from Cange and O'Malley
- Separate walk‑out apartment with 2 bedrooms, 1 bathroom, updated kitchen, washer and dryer
- Main residence has 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,021
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,380,420
$1.4M
Cap Rate 7%
$986,014
$986.0K
Cap Rate 9%
$766,900
$766.9K
Market Conditions
NOI Build-Up for 4,700 SF
Gross rent
$104.3K $22.20/SF
− Vacancy
−$5.7K −$1.22/SF
EGI
$98.6K $20.98/SF
− OpEx
−$29.6K −$6.29/SF
NOI
$69.0K $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 Rate 5%
$1,380,420
Cap Rate 7%
$986,014
Cap Rate 9%
$766,900
Alternative Uses
Best Use
Multifamily LT 5
$986.0K
$862.8K – $1.15M
NOI $69,021 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$863.0K
$755.1K – $1.01M
NOI $60,411 @ 7.0% cap · market cap 6.46%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,338 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Demographics for 99516, AK
21,786
Population
7,544
Households
2.9
Avg Household Size
42
Median Age
56%
College-Educated
97%
High-School Grad
43.9 sq mi
ZIP Area
496
Density / Sq Mi
$160,341
Median Household Income
$70,998
Median Earnings
$1,284
Median Rent
$576,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - A second driveway and separate entrance provide distinct access to the apartment and heated office/shop.
Where is this duplex located?
The property is located at 3320 Omalley Rd Anchorage, AK.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Nearly 2 acres with dual access from Cange and O'Malley; Separate walk‑out apartment with 2 bedrooms, 1 bathroom, updated kitchen, washer and dryer; Main residence has 3 bedrooms and 2 bathrooms
