6-Unit Apartment
402 E 11th Ave, Anchorage, AK 99501
For Sale
$750,000
Pending
The two-story property offers private entries and a mix of one- and two-bedroom apartments.
Property Size3,840 SF
Days on Market72
Property Features for 402 E 11th Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Stories
Listing Agency:
Buyers Real Estate, LLC
Listed By:
Ayla L King · License AK #18460
(907) 561-2227
Source:
Viewanchoragehouses
Added: Sep 3
Changed: Nov 8
Last Checked: Nov 10 at 11:00AM
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.
Built in 1963, this 3,840-square-foot apartment building has six units across two full stories, each with a private entry. The unit mix includes five two-bedroom, one-bath apartments and one one-bedroom, one-bath apartment. The property sits on a corner lot and has five tandem off-street parking spaces, with on-street parking also available. The building is served by a single meter.
The property is a few blocks from downtown Anchorage and near the Park Strip, with access to trails, recreation, dining, shopping, and employment. Improvements include replacement windows, exterior doors, interior unit updates, and exterior painting. The roof was replaced in 2007 and touched up in 2019; the boiler was replaced in 2007, with new zones added in 2022. The water heater was replaced in 2015.
The property is a few blocks from downtown Anchorage and near the Park Strip, with access to trails, recreation, dining, shopping, and employment. Improvements include replacement windows, exterior doors, interior unit updates, and exterior painting. The roof was replaced in 2007 and touched up in 2019; the boiler was replaced in 2007, with new zones added in 2022. The water heater was replaced in 2015.
Key Highlights
- Six apartments: five 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- 3,840 square feet in a two‑story building with private entries
- Five tandem off‑street parking spaces, plus on‑street parking option
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,357
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,140
$987.1K
Cap Rate 7%
$705,100
$705.1K
Cap Rate 9%
$548,411
$548.4K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$94.5K $24.60/SF
− Vacancy
−$4.7K −$1.23/SF
EGI
$89.7K $23.37/SF
− OpEx
−$40.4K −$10.52/SF
NOI
$49.4K $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%
$987,140
Cap Rate 7%
$705,100
Cap Rate 9%
$548,411
Alternative Uses
Best Use
Apartment 5plus
$705.1K
$617.0K – $822.6K
NOI $49,357 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.04M
$912.4K – $1.22M
NOI $72,991 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Demographics for 99501, AK
18,590
Population
8,906
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,775
Density / Sq Mi
$69,591
Median Household Income
$43,542
Median Earnings
$1,181
Median Rent
$378,700
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 - The two-story property offers private entries and a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 402 E 11th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Six apartments: five 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; 3,840 square feet in a two‑story building with private entries; Five tandem off‑street parking spaces, plus on‑street parking option
