Duplex with Flexible Living
New
For Sale
$625,000
615 W 42ND Avenue, Anchorage, AK 99503
Multi-Family, Anchorage, AK
Property Size3,328 SF
Lot Size0.23 Acres
Price / SF$187.80
Days on Market4
Property Features for 615 W 42ND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3 - Multiple Family Resi
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 6, Bathroom 2
Lot features
Level
Elementary school
Willow Crest
Middle school
Romig
High school
West Anchorage
Directions
S on Arctic Blvd.; E on 42nd Ave, between Tudor and 36th ave.
Subdivision
1A - Anchorage Municipality
Standard status
Active
APN
00914315000
Size
3,328 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
JOHNSON LT 14
Tax Annual Amount
7560
Legal Description
JOHNSON LT 14
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1962
Number of units
2
Building materials
Block, Wood Frame
Roof type
Shingle, Asphalt, Composition
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Ana C Kaiser · License #18650
(907) 952-8730
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 23 at 2:06PM
MLS# 26-13341
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.
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Investment Insights
Based on property information with market context.
This 3,328-square-foot duplex contains two units, with six bedrooms and three bathrooms listed among its rooms. The upstairs unit features quality workmanship, and the second unit offers options for separate occupancy or use alongside the other residence. The property was built in 1962 on a 0.23-acre lot and is zoned R3 - Multiple Family Resi.
Public water and sewer serve the property. Heating is provided by natural gas and baseboard systems, and the roof is composition, asphalt, and shingle. Construction materials include block and wood frame.
Public water and sewer serve the property. Heating is provided by natural gas and baseboard systems, and the roof is composition, asphalt, and shingle. Construction materials include block and wood frame.
Key Highlights
- Two‑unit duplex with 3,328 square feet of building area
- 0.23‑acre lot zoned R3 - Multiple Family Resi
- Six bedrooms and three bathrooms listed
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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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - The second unit can serve as a rental, an extension of the primary residence, or part of a combined home.
Where is this duplex located?
The property is located at 615 W 42ND Avenue 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: Two‑unit duplex with 3,328 square feet of building area; 0.23‑acre lot zoned R3 - Multiple Family Resi; Six bedrooms and three bathrooms listed
