Ranch-Style
For Sale
$499,900
Pending
536 W 15th Ave, Anchorage, AK 99501
Each unit offers private and common egress, with shared laundry positioned between the residences.
Property Size1,620 SF
Days on Market45
Property Features for 536 W 15th Ave
General Information
Standard status
Pending
Size
1,620 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
shared common area laundry
Building Details
Year Built
1954
Construction
Ranch
Listing Agency:
Jack White Real Estate
(907) 562-6464
Listed By:
Brian Broderick · License #12465
Source:
Seehomesinalaska
Added: Jul 17
Changed: Aug 28
Last Checked: Aug 29 at 10:35AM
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 1,620-square-foot ranch-style duplex was built in 1954 and contains two residential units in a shared configuration. Each unit has both private and common means of egress, while a shared laundry area is located between the residences. The property is described as being in good condition.
Located at 536 W 15th Ave in Downtown Anchorage, the duplex is currently operated with short-term rental use in one unit and a monthly tenant in the other. The monthly tenant is scheduled to vacate in September, providing a defined change in occupancy for that unit.
Located at 536 W 15th Ave in Downtown Anchorage, the duplex is currently operated with short-term rental use in one unit and a monthly tenant in the other. The monthly tenant is scheduled to vacate in September, providing a defined change in occupancy for that unit.
Key Highlights
- Two‑unit ranch‑style duplex with 1,620 SF
- Built in 1954
- Private and common means of egress for each unit
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
$23,790
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
4.76%
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%
$475,800
$475.8K
Cap Rate 7%
$339,857
$339.9K
Cap Rate 9%
$264,333
$264.3K
Market Conditions
NOI Build-Up for 1,620 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
$36.0K $22.20/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$34.0K $20.98/SF
− OpEx
−$10.2K −$6.29/SF
NOI
$23.8K $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%
$475,800
Cap Rate 7%
$339,857
Cap Rate 9%
$264,333
Alternative Uses
Best Use
Multifamily LT 5
$339.9K
$297.4K – $396.5K
NOI $23,790 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$297.5K
$260.3K – $347.1K
NOI $20,823 @ 7.0% cap · market cap 4.17%
Theoretical Best
Specialty Retail
$439.9K
$384.9K – $513.2K
NOI $30,793 @ 7.0% cap · market cap 6.16%
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 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
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit offers private and common egress, with shared laundry positioned between the residences.
Where is this duplex located?
The property is located at 536 W 15th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑unit ranch‑style duplex with 1,620 SF; Built in 1954; Private and common means of egress for each unit
