11-Unit Townhouse-Style Apartment
For Sale
$2,795,000
Pending
3635-3711 Carleton Ave, Anchorage, AK 99517
Fully occupied residences feature private garages, laundry, outdoor decks, and updated kitchens in a townhouse-style configuration.
Property Size15,246 SF
Days on Market90
Property Features for 3635-3711 Carleton Ave
General Information
Standard status
Pending
Size
15,246 SF
Property subtype
Multi-Family
Building Details
Year Built
1985
Listing Agency:
Buyers Real Estate, LLC
Listed By:
Ayla L King · License #AK.18460
(907) 561-2227
Source:
Seehomesinalaska
Added: Jul 19
Changed: Oct 1
Last Checked: Oct 14 at 11:09PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 11-unit apartment property in Anchorage was built in 1985 with townhouse-style residences and condominium-level specifications. Each 1,386-square-foot unit includes 3 bedrooms, 2.5 bathrooms, a 1-car garage, additional storage, private laundry, and a deck accessed through sliding glass doors. Kitchens have been updated, the interiors were freshly painted, most units have been remodeled, and the decks were improved. Roof replacements were completed in 2021.
The property is 100% occupied, with tenants responsible for gas and electric. The seller has completed nearly all legal work associated with a potential condominium conversion, and the spring 2026 replat divided the original lot into a 4plex, 7plex, and R2M lot. The property is located on Carleton Avenue in Anchorage’s South Turnagain area.
The property is 100% occupied, with tenants responsible for gas and electric. The seller has completed nearly all legal work associated with a potential condominium conversion, and the spring 2026 replat divided the original lot into a 4plex, 7plex, and R2M lot. The property is located on Carleton Avenue in Anchorage’s South Turnagain area.
Key Highlights
- 11 units, each measuring 1,386 square feet
- Each residence offers 3 bedrooms and 2.5 bathrooms
- Private 1‑car garages, storage, and laundry in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$195,964
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,919,280
$3.9M
Cap Rate 7%
$2,799,486
$2.8M
Cap Rate 9%
$2,177,378
$2.2M
Market Conditions
NOI Build-Up for 15,246 SF
Gross rent
$375.1K $24.60/SF
− Vacancy
−$18.8K −$1.23/SF
EGI
$356.3K $23.37/SF
− OpEx
−$160.3K −$10.52/SF
NOI
$196.0K $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%
$3,919,280
Cap Rate 7%
$2,799,486
Cap Rate 9%
$2,177,378
Alternative Uses
Best Use
Apartment 5plus
$2.80M
$2.45M – $3.27M
NOI $195,964 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.14M
$3.62M – $4.83M
NOI $289,796 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
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
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied residences feature private garages, laundry, outdoor decks, and updated kitchens in a townhouse-style configuration.
Where is this apartment building located?
The property is located at 3635-3711 Carleton Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: 11 units, each measuring 1,386 square feet; Each residence offers 3 bedrooms and 2.5 bathrooms; Private 1‑car garages, storage, and laundry in every unit
