6-Unit Ranch-Style Apartment
3506 Wyoming Dr, Anchorage, AK 99517
For Sale
$375,000
Six one-bedroom, one-bath residences are arranged in a single-story apartment property.
Property Size1,848 SF
Price / SF$202.92
Days on Market97
Property Features for 3506 Wyoming Dr
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Construction
Listing Agency:
Real Broker Alaska
Listed By:
Kevin B Cross · License AK #17358
(907) 529-2289
Source:
Sellingalaskaco
Added: Aug 10
Changed: Oct 25
Last Checked: Oct 7 at 4:15PM
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
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Investment Insights
Based on property information with market context.
This ranch-style apartment property contains six one-bedroom, one-bath units within a single building. Constructed in 1960, the asset is being offered in its existing condition and is designated R2M zoning.
The property is located on Wyoming Drive in Anchorage’s Spenard area. Its six-unit configuration provides a defined multifamily format for an apartment-focused acquisition, with each residence offering the same one-bedroom, one-bath layout.
The property is located on Wyoming Drive in Anchorage’s Spenard area. Its six-unit configuration provides a defined multifamily format for an apartment-focused acquisition, with each residence offering the same one-bedroom, one-bath layout.
Key Highlights
- Six one‑bedroom, one‑bath apartment units
- Ranch‑style, single‑story building configuration
- R2M zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,753
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,060
$475.1K
Cap Rate 7%
$339,329
$339.3K
Cap Rate 9%
$263,922
$263.9K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$45.5K $24.60/SF
− Vacancy
−$2.3K −$1.23/SF
EGI
$43.2K $23.37/SF
− OpEx
−$19.4K −$10.52/SF
NOI
$23.8K $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 Rate 5%
$475,060
Cap Rate 7%
$339,329
Cap Rate 9%
$263,922
Alternative Uses
Best Use
Apartment 5plus
$339.3K
$296.9K – $395.9K
NOI $23,753 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$501.8K
$439.1K – $585.5K
NOI $35,127 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom, one-bath residences are arranged in a single-story apartment property.
Where is this apartment building located?
The property is located at 3506 Wyoming Dr Anchorage, AK.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Six one‑bedroom, one‑bath apartment units; Ranch‑style, single‑story building configuration; R2M zoning designation
