Renovated Duplex with Flexible
For Sale
$710,000
4619 E 9th Ave, Anchorage, AK 99508
Updated duplex across from Russian Jack Springs Park with adaptable interiors, extensive parking, and an active Airbnb setup.
Property Size3,224 SF
Price / SF$220.22
Days on Market32
Property Features for 4619 E 9th Ave
General Information
Standard status
Active
Size
3,224 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
deck
landscaped yard
fireplace
bonus room
washer/dryer
storage
Building Details
Year Built
1970
Listing Agency:
EXP Realty, LLC
(907) 310-0641
Listed By:
Olga Persinger · License #157082
Source:
Kachemakgrouprealestate
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 29 at 12:05PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 3,224-square-foot duplex was built in 1970 and extensively renovated approximately two years ago. Improvements include waterproof scratch-resistant flooring, interior paint, doors, appliances, washers and dryers, two remodeled bathrooms, and a renovated lower-level kitchen. The property includes three kitchens, three full bathrooms, an additional toilet in the laundry room, and connecting interior doors that support multiple configurations. A bonus room can serve as an office, recreation area, media room, fitness space, or hobby room, while a wood-burning fireplace adds a central gathering feature.
Exterior improvements include a roof installed in 2020 with a 20-year warranty, new fencing, exterior stairs, a deck, concrete walkway, landscaped yard, and storage beneath the stairs. Parking accommodates up to 7 vehicles, with additional side space for an RV or several more vehicles. Located directly across from Russian Jack Springs Park, the property is near trails, sports fields, open space, a golf course, and Costco. The home is currently set up as an active Airbnb with rental history.
Exterior improvements include a roof installed in 2020 with a 20-year warranty, new fencing, exterior stairs, a deck, concrete walkway, landscaped yard, and storage beneath the stairs. Parking accommodates up to 7 vehicles, with additional side space for an RV or several more vehicles. Located directly across from Russian Jack Springs Park, the property is near trails, sports fields, open space, a golf course, and Costco. The home is currently set up as an active Airbnb with rental history.
Key Highlights
- 3,224‑square‑foot duplex built in 1970
- Roof installed in 2020 with a 20‑year warranty
- Parking for up to 7 vehicles plus side space for an RV or several more vehicles
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
$47,345
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
6.67%
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%
$946,900
$946.9K
Cap Rate 7%
$676,357
$676.4K
Cap Rate 9%
$526,056
$526.1K
Market Conditions
NOI Build-Up for 3,224 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
$71.6K $22.20/SF
− Vacancy
−$3.9K −$1.22/SF
EGI
$67.6K $20.98/SF
− OpEx
−$20.3K −$6.29/SF
NOI
$47.3K $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%
$946,900
Cap Rate 7%
$676,357
Cap Rate 9%
$526,056
Alternative Uses
Best Use
Multifamily LT 5
$676.4K
$591.8K – $789.1K
NOI $47,345 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$592.0K
$518.0K – $690.7K
NOI $41,440 @ 7.0% cap · market cap 5.84%
Theoretical Best
Specialty Retail
$875.5K
$766.0K – $1.02M
NOI $61,282 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
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?
Duplex - Updated duplex across from Russian Jack Springs Park with adaptable interiors, extensive parking, and an active Airbnb setup.
Where is this duplex located?
The property is located at 4619 E 9th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: 3,224‑square‑foot duplex built in 1970; Roof installed in 2020 with a 20‑year warranty; Parking for up to 7 vehicles plus side space for an RV or several more vehicles
