Duplex with Flexible Unit
New
For Sale
$625,000
615 W 42nd Ave, Anchorage, AK 99503
The second unit can support rental use or function as an extension of the primary residence.
Property Size3,328 SF
Price / SF$187.80
Days on Market7
Property Features for 615 W 42nd Ave
General Information
Standard status
Active
Size
3,328 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Midtown
Additional Details
Multifamily Units
2
Building Details
Year Built
1962
Buildings
1
Listing Agency:
EXP Realty, LLC
Listed By:
Ana C Kaiser · License #18650
(907) 952-8730
Source:
Seehomesinalaska
Added: Oct 19
Changed: Oct 24
Last Checked: Oct 24 at 3:24PM
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
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Investment Insights
Based on property information with market context.
This 3,328-square-foot duplex was built in 1962 and contains two residential units. The second unit can be used separately for long- or short-term rental or incorporated into the main home, allowing the property to operate as a two-unit residence or one larger household space.
Shops, dining, parks, and everyday amenities are located nearby in the midtown area of Anchorage.
Shops, dining, parks, and everyday amenities are located nearby in the midtown area of Anchorage.
Key Highlights
- 3,328‑square‑foot duplex with two residential units
- Second unit may be used for long- or short‑term rentals or as part of one larger residence
- Built in 1962
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,873
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,460
$977.5K
Cap Rate 7%
$698,186
$698.2K
Cap Rate 9%
$543,033
$543.0K
Market Conditions
NOI Build-Up for 3,328 SF
Gross rent
$73.9K $22.20/SF
− Vacancy
−$4.1K −$1.22/SF
EGI
$69.8K $20.98/SF
− OpEx
−$20.9K −$6.29/SF
NOI
$48.9K $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 Rate 5%
$977,460
Cap Rate 7%
$698,186
Cap Rate 9%
$543,033
Alternative Uses
Best Use
Multifamily LT 5
$698.2K
$610.9K – $814.6K
NOI $48,873 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$611.1K
$534.7K – $712.9K
NOI $42,776 @ 7.0% cap · market cap 6.84%
Theoretical Best
Specialty Retail
$903.7K
$790.7K – $1.05M
NOI $63,259 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Demographics for 99503, AK
13,550
Population
7,411
Households
1.8
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
20.7 sq mi
ZIP Area
655
Density / Sq Mi
$76,888
Median Household Income
$46,734
Median Earnings
$1,185
Median Rent
$316,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - The second unit can support rental use or function as an extension of the primary residence.
Where is this duplex located?
The property is located at 615 W 42nd Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,328‑square‑foot duplex with two residential units; Second unit may be used for long- or short‑term rentals or as part of one larger residence; Built in 1962
