Quadplex with Shared
For Sale
$549,900
4521 Cordova St, Anchorage, AK 99503
Four one-bedroom residences include furnishings, storage, and common laundry facilities.
Property Size2,738 SF
Price / SF$200.84
Days on Market90
Property Features for 4521 Cordova St
General Information
Standard status
Active
Size
2,738 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Amenities
storage
shared laundry
Building Details
Year Built
1971
Listing Agency:
Keller Williams Realty Alaska Group of Wasilla
(907) 864-6500
Listed By:
Dustin Renner · License #16580
Source:
Viewanchoragehouses
Added: Jun 3
Changed: Aug 29
Last Checked: Aug 30 at 5:56PM
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 Keller Williams Realty Alaska Group of Wasilla
Investment Insights
Based on property information with market context.
This quadplex contains four one-bedroom units with practical layouts and furnishings in most residences. Shared laundry facilities and storage support the property’s residential configuration, while consistent occupancy is noted. The building was constructed in 1971.
Located at 4521 Cordova Street in Anchorage, the property is in Midtown and positioned near shopping, dining, amenities, and services.
Located at 4521 Cordova Street in Anchorage, the property is in Midtown and positioned near shopping, dining, amenities, and services.
Key Highlights
- Four one‑bedroom units
- Mostly furnished residences
- Shared laundry facilities and storage
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
$40,208
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
7.31%
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%
$804,160
$804.2K
Cap Rate 7%
$574,400
$574.4K
Cap Rate 9%
$446,756
$446.8K
Market Conditions
NOI Build-Up for 2,738 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
$60.8K $22.20/SF
− Vacancy
−$3.3K −$1.22/SF
EGI
$57.4K $20.98/SF
− OpEx
−$17.2K −$6.29/SF
NOI
$40.2K $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%
$804,160
Cap Rate 7%
$574,400
Cap Rate 9%
$446,756
Alternative Uses
Best Use
Multifamily LT 5
$574.4K
$502.6K – $670.1K
NOI $40,208 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$502.8K
$439.9K – $586.6K
NOI $35,193 @ 7.0% cap · market cap 6.40%
Theoretical Best
Specialty Retail
$743.5K
$650.6K – $867.4K
NOI $52,044 @ 7.0% cap · market cap 9.46%
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 99503, AK
13,550
Population
7,411
Households
1.8
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
20.7 sq mi
ZIP Area
655
Density / Sq Mi
$76,888
Median Household Income
$46,734
Median Earnings
$1,185
Median Rent
$316,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences include furnishings, storage, and common laundry facilities.
Where is this quadplex located?
The property is located at 4521 Cordova St Anchorage, AK.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Four one‑bedroom units; Mostly furnished residences; Shared laundry facilities and storage
