24-Unit Apartment
627 E 78th Ave, Anchorage, AK 99518
For Sale
$3,200,000
The rental property comprises three buildings, each configured with eight units.
Property Size21,180 SF
Price / SF$151.09
Days on Market8
Property Features for 627 E 78th Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Infinity Commercial Real Estate Group
Listed By:
Albert Circosta · License AK 14721-RECB
(907) 230-3638
Source:
Seehomesinalaska
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 8 at 7:05AM
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 Infinity Commercial Real Estate Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 24-unit apartment property in Anchorage consists of three eight-unit buildings. The buildings date to 1978, and recent improvement work has been completed across the property.
Key Highlights
- Three apartment buildings with eight units each
- 24 units in total
- Year built: 1978
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$272,237
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,444,740
$5.4M
Cap Rate 7%
$3,889,100
$3.9M
Cap Rate 9%
$3,024,856
$3.0M
Market Conditions
NOI Build-Up for 21,180 SF
Gross rent
$521.0K $24.60/SF
− Vacancy
−$26.1K −$1.23/SF
EGI
$495.0K $23.37/SF
− OpEx
−$222.7K −$10.52/SF
NOI
$272.2K $12.85/SF
Area
Anchorage, AK
Vacancy
5.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,444,740
Cap Rate 7%
$3,889,100
Cap Rate 9%
$3,024,856
Alternative Uses
Best Use
Apartment 5plus
$3.89M
$3.40M – $4.54M
NOI $272,237 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.75M
$5.03M – $6.71M
NOI $402,589 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
24
Residential units
Location Intelligence
Demographics for 99518, AK
9,861
Population
4,568
Households
2.2
Avg Household Size
36
Median Age
32%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
2,595
Density / Sq Mi
$91,077
Median Household Income
$49,761
Median Earnings
$1,661
Median Rent
$297,900
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?
Apartment building - The rental property comprises three buildings, each configured with eight units.
Where is this apartment building located?
The property is located at 627 E 78th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Three apartment buildings with eight units each; 24 units in total; Year built: 1978
