14-Unit Apartment
New
For Sale
$1,995,000
4320 Checkmate Drive, Anchorage, AK 99508
The unit mix spans one-, two-, and three-bedroom layouts, with shared laundry facilities and private entrances.
Property Size12,480 SF
Days on Market3
Property Features for 4320 Checkmate Drive
General Information
Standard status
Active
Size
12,480 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Sprinkler System
Yes
Multifamily Units
14
Amenities
wash station
laundry area
Building Details
Building Size
12,480 SF
Year Built
1970
Year Renovated
2025
Buildings
1
Listing Agency:
Buyers Real Estate, LLC
Listed By:
Ayla L King · License #AK.18460
(907) 561-2227
Source:
Keiradrehergroup.kw
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 15 at 1:53AM
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
Investment Insights
Based on property information with market context.
Built in 1970, this 14-unit apartment property includes a mix of one-, two-, and three-bedroom residences. Unit interiors were updated around 2010, with full kitchens and bathrooms. Additional features include private entrances, covered exterior corridors, and a shared laundry area with machines leased through Reliable Appliance; the equipment lease continues after a sale. The lower level has sprinkler coverage and a central fire alarm. The building is fully occupied and professionally managed.
The property is at 4320 Checkmate Drive in Anchorage. Castle Heights Park is two blocks away and connects to a dog park and the Chester Creek trail system. The property is also near the UAA and APU campuses, Native Hospital, and Providence.
The property is at 4320 Checkmate Drive in Anchorage. Castle Heights Park is two blocks away and connects to a dog park and the Chester Creek trail system. The property is also near the UAA and APU campuses, Native Hospital, and Providence.
Key Highlights
- 14 apartments with a mix of one-, two-, and three‑bedroom units
- Interiors updated around 2010; kitchens and bathrooms in each unit
- Replacement windows and updated exterior lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,412
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,208,240
$3.2M
Cap Rate 7%
$2,291,600
$2.3M
Cap Rate 9%
$1,782,356
$1.8M
Market Conditions
NOI Build-Up for 12,480 SF
Gross rent
$307.0K $24.60/SF
− Vacancy
−$15.4K −$1.23/SF
EGI
$291.7K $23.37/SF
− OpEx
−$131.2K −$10.52/SF
NOI
$160.4K $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%
$3,208,240
Cap Rate 7%
$2,291,600
Cap Rate 9%
$1,782,356
Alternative Uses
Best Use
Apartment 5plus
$2.29M
$2.01M – $2.67M
NOI $160,412 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.39M
$2.97M – $3.95M
NOI $237,220 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
14
Residential units
100%
Occupancy
Yes
Sprinkler system
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix spans one-, two-, and three-bedroom layouts, with shared laundry facilities and private entrances.
Where is this apartment building located?
The property is located at 4320 Checkmate Drive Anchorage, AK.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 14 apartments with a mix of one-, two-, and three‑bedroom units; Interiors updated around 2010; kitchens and bathrooms in each unit; Replacement windows and updated exterior lighting
