Updated Three-Unit
New
For Sale
$895,000
521 N St, Anchorage, AK 99501
Three residences with varied layouts, partial ocean views, and access to parks, restaurants, downtown, and local attractions.
Property Size3,224 SF
Lot Size0.16 Acres
Price / SF$277.61
Days on Market3
Property Features for 521 N St
General Information
Standard status
Active
Size
3,224 SF
Total Parking Spaces
3
Lot size
0.16 Acres
Property subtype
Multi-Family
Zoning
R3
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1961
Buildings
1
Listing Agency:
Jack White Real Estate
(907) 562-6464
Listed By:
Carla Stephan, Gabe Stephan
Source:
Sellingalaskaco
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 10:17PM
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 Jack White Real Estate
Investment Insights
Based on property information with market context.
This three-unit property in Anchorage’s Bootleggers Cove area provides 3,224 square feet of residential space in a configuration that includes a 4-bedroom/2-bath unit, a 2-bedroom/1-bath unit, and a 1-bedroom/1-bath unit. The improvements were updated within the last six years, and the property includes three off-street parking spaces.
Set on a 7,158-square-foot R3-zoned lot, the property was built in 1961 and offers partial ocean views. Its position between Cook Inlet and downtown places parks, restaurants, downtown destinations, and tourist attractions within walkable reach. The three-unit layout supports a range of residential and rental arrangements, including owner occupancy, long-term leasing, and short-term rental use as stated in the property information.
Set on a 7,158-square-foot R3-zoned lot, the property was built in 1961 and offers partial ocean views. Its position between Cook Inlet and downtown places parks, restaurants, downtown destinations, and tourist attractions within walkable reach. The three-unit layout supports a range of residential and rental arrangements, including owner occupancy, long-term leasing, and short-term rental use as stated in the property information.
Key Highlights
- 3,224‑square‑foot triplex with three residential units
- Unit mix: 4BR/2BA, 2BR/1BA, and 1BR/1BA
- Updated within the last 6 years
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
5.29%
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 5.29%
Second Best
Apartment 5plus
$592.0K
$518.0K – $690.7K
NOI $41,440 @ 7.0% cap · market cap 4.63%
Theoretical Best
Specialty Retail
$875.5K
$766.0K – $1.02M
NOI $61,282 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Demographics for 99501, AK
18,590
Population
8,906
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,775
Density / Sq Mi
$69,591
Median Household Income
$43,542
Median Earnings
$1,181
Median Rent
$378,700
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?
Triplex - Three residences with varied layouts, partial ocean views, and access to parks, restaurants, downtown, and local attractions.
Where is this triplex located?
The property is located at 521 N St Anchorage, AK.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 3,224‑square‑foot triplex with three residential units; Unit mix: 4BR/2BA, 2BR/1BA, and 1BR/1BA; Updated within the last 6 years
