Duplex With Fenced
New
For Sale
$440,000
5016 E 24th Avenue, Anchorage, AK 99508
Multi-Family, Anchorage, AK
Property Size2,080 SF
Lot Size0.18 Acres
Price / SF$211.54
Days on Market2
Property Features for 5016 E 24th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2M - Multi Family Reside
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 1
Subdivision
Brown West
Lot features
Level
Elementary school
Baxter
Middle school
Clark
High school
Bettye Davis East Anchorage
Directions
East on Northern Lights Blvd from Bragaw St. Turn left(north) on Glacier St then turn left(west) on E 24th Ave. 5016 E 24th will be the 2nd property on your left.
Standard status
Active
APN
0063240400001
Size
2,080 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Brown's Resubdivision of Lot 37 L9
Tax Annual Amount
5635
Legal Description
Brown's Resubdivision of Lot 37 L9
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1970
Number of units
2
Flooring type
Vinyl, Slate, Tile, Painted/stained, Hardwood
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
(907) 646-3600
Listed By:
Mark Tuovinen · License #145187
(907) 240-7081
Added: Aug 21
Last Checked: Aug 22 at 11:06PM
MLS# 26-10767
Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This wood-frame duplex in Anchorage contains 2,080 square feet across a one-bedroom upper residence and a three-bedroom lower residence. The upper unit includes an open living area, custom kitchen with granite countertops, and an en-suite bedroom with a jetted tub, glass-block shower, custom tile, and a large closet. The lower unit has newer cabinets, plumbing, and appliances, along with slate flooring in the main living area and hallway and engineered hardwood in the bedrooms.
The 0.18-acre parcel includes a level, mostly fenced backyard, two storage sheds, and a west-side vehicle gate providing access to the rear area. The property is served by public water and public sewer, with natural-gas forced-air heat and a shingle roof. Built in 1970, it is zoned R2M - Multi Family Reside and is offered as-is.
The 0.18-acre parcel includes a level, mostly fenced backyard, two storage sheds, and a west-side vehicle gate providing access to the rear area. The property is served by public water and public sewer, with natural-gas forced-air heat and a shingle roof. Built in 1970, it is zoned R2M - Multi Family Reside and is offered as-is.
Key Highlights
- 2,080‑square‑foot duplex with one‑bedroom upper and three‑bedroom lower units
- Upper unit features granite kitchen counters and an en‑suite bath with jetted tub and glass‑block shower
- 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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated finishes, private outdoor space, storage sheds, and rear vehicle access.
Where is this duplex located?
The property is located at 5016 E 24th Avenue 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 one‑bedroom upper and three‑bedroom lower units; Upper unit features granite kitchen counters and an en‑suite bath with jetted tub and glass‑block shower; Lower unit includes newer cabinets, plumbing, and appliances
