Duplex with Fenced
New
For Sale
$440,000
5016 E 24th Ave, Anchorage, AK 99508
Two-level duplex with upgraded finishes, storage sheds, and gated rear access for RVs or occasional equipment.
Property Size2,080 SF
Price / SF$211.54
Days on Market7
Property Features for 5016 E 24th Ave
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-Family
Building Details
Year Built
1970
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
Listed By:
Mark Tuovinen · License #145187
(907) 240-7081
Source:
Bktanchorage
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 9 at 10:45PM
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 Berkshire Hathaway HomeServices Alaska Realty
Investment Insights
Based on property information with market context.
This 2,080-square-foot duplex includes a one-bedroom upper unit and a three-bedroom lower unit. The upper residence has an open living area with LVP flooring, a custom kitchen with granite countertops, and an en-suite bedroom featuring a jetted tub, circular glass block shower, custom tile work, large closet, and mixed engineered hardwood and marble tile flooring. The lower unit includes newer cabinets, plumbing, and appliances, along with slate flooring in the main living area and hallway and Kahrs engineered hardwood in the bedrooms.
Outside, the mostly fenced, level backyard includes two storage sheds and a vehicle gate along the west side of the property. The gate provides rear access for RVs or other occasional-use items. Minor repairs, touch-ups, and maintenance are ongoing, and the property is offered as-is.
Outside, the mostly fenced, level backyard includes two storage sheds and a vehicle gate along the west side of the property. The gate provides rear access for RVs or other occasional-use items. Minor repairs, touch-ups, and maintenance are ongoing, and the property is offered as-is.
Key Highlights
- 2,080‑square‑foot duplex with separate one‑bedroom and 3 bd. units
- Upper unit features granite kitchen countertops and a detailed en‑suite bathroom
- Lower unit includes newer cabinets, plumbing, and appliances
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
$30,545
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
6.94%
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%
$610,900
$610.9K
Cap Rate 7%
$436,357
$436.4K
Cap Rate 9%
$339,389
$339.4K
Market Conditions
NOI Build-Up for 2,080 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
$46.2K $22.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$43.6K $20.98/SF
− OpEx
−$13.1K −$6.29/SF
NOI
$30.5K $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%
$610,900
Cap Rate 7%
$436,357
Cap Rate 9%
$339,389
Alternative Uses
Best Use
Multifamily LT 5
$436.4K
$381.8K – $509.1K
NOI $30,545 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$381.9K
$334.2K – $445.6K
NOI $26,735 @ 7.0% cap · market cap 6.08%
Theoretical Best
Specialty Retail
$564.8K
$494.2K – $659.0K
NOI $39,537 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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?
Duplex - Two-level duplex with upgraded finishes, storage sheds, and gated rear access for RVs or occasional equipment.
Where is this duplex located?
The property is located at 5016 E 24th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 2,080‑square‑foot duplex with separate one‑bedroom and 3 bd. units; Upper unit features granite kitchen countertops and a detailed en‑suite bathroom; Lower unit includes newer cabinets, plumbing, and appliances
