Four-Unit Multifamily
For Sale
$590,000
4004 E 8th Ave, Anchorage, AK 99508
Four-unit residential property with a two-level layout, parking, and alley access.
Property Size3,568 SF
Price / SF$165.36
Days on Market8
Property Features for 4004 E 8th Ave
General Information
Standard status
Active
Size
3,568 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR, 2 x 2BR
Multifamily Units
4
Building Details
Year Built
1977
Listing Agency:
Realty ONE Group Aurora
(907) 865-6500
Listed By:
Ileana Batista
Source:
Griggrealty
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 8:29PM
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 Realty ONE Group Aurora
Investment Insights
Based on property information with market context.
This 3,568-square-foot multifamily property was built in 1977 and contains four residential units arranged across two levels. The upper floor includes two three-bedroom units, while the lower floor has two two-bedroom units, providing a defined mix of larger and smaller residences.
The property is located near JBER and includes parking spaces with access from the alley. The four-unit configuration and established construction provide a straightforward multifamily format for residential occupancy.
The property is located near JBER and includes parking spaces with access from the alley. The four-unit configuration and established construction provide a straightforward multifamily format for residential occupancy.
Key Highlights
- Four‑unit multifamily property totaling 3,568 square feet
- Two 3 beds units upstairs and two 2 beds units downstairs
- Built in 1977
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
$52,397
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
8.88%
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%
$1,047,940
$1.0M
Cap Rate 7%
$748,529
$748.5K
Cap Rate 9%
$582,189
$582.2K
Market Conditions
NOI Build-Up for 3,568 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
$79.2K $22.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$74.9K $20.98/SF
− OpEx
−$22.5K −$6.29/SF
NOI
$52.4K $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%
$1,047,940
Cap Rate 7%
$748,529
Cap Rate 9%
$582,189
Alternative Uses
Best Use
Multifamily LT 5
$748.5K
$655.0K – $873.3K
NOI $52,397 @ 7.0% cap · market cap 8.88%
Second Best
Apartment 5plus
$655.2K
$573.3K – $764.4K
NOI $45,861 @ 7.0% cap · market cap 7.77%
Theoretical Best
Specialty Retail
$968.9K
$847.8K – $1.13M
NOI $67,821 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Demographics for 99508, AK
34,394
Population
14,219
Households
2.4
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
4,844
Density / Sq Mi
$72,751
Median Household Income
$40,937
Median Earnings
$1,353
Median Rent
$309,400
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?
Quadplex - Four-unit residential property with a two-level layout, parking, and alley access.
Where is this quadplex located?
The property is located at 4004 E 8th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Four‑unit multifamily property totaling 3,568 square feet; Two 3 beds units upstairs and two 2 beds units downstairs; Built in 1977
