Two-Story
For Sale
$538,000
638 W 74th Ave, Anchorage, AK 99518
Recent building and site improvements complement a four-unit residential income property near shopping and restaurants.
Property Size1,802 SF
Price / SF$298.56
Days on Market93
Property Features for 638 W 74th Ave
General Information
Standard status
Active
Size
1,802 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$1,400
Building Details
Year Built
1972
Stories
2
Listing Agency:
Real Broker Alaska
Listed By:
Joseph Miller · License #11361
(907) 351-4794
Source:
Kachemakgrouprealestate
Added: Jul 15
Changed: Oct 6
Last Checked: Oct 7 at 5:34PM
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 Real Broker Alaska
Investment Insights
Based on property information with market context.
This two-story quadplex, built in 1972, contains four generously sized one-bedroom, one-bathroom units. Recent capital work includes roof replacement, interior painting, and repaving of the parking lot, while the boiler was replaced within the last five years. All units are currently rented.
The property is situated in south Anchorage near Dimond shopping center and nearby restaurants. Its four-unit configuration, refreshed common site improvements, and updated mechanical equipment provide a straightforward multifamily asset profile.
The property is situated in south Anchorage near Dimond shopping center and nearby restaurants. Its four-unit configuration, refreshed common site improvements, and updated mechanical equipment provide a straightforward multifamily asset profile.
Key Highlights
- Four‑unit quadplex with two‑story design
- Each unit offers 1 bedroom and 1 bathroom
- Roof replaced and interior painted within the last year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,463
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$529,260
$529.3K
Cap Rate 7%
$378,043
$378.0K
Cap Rate 9%
$294,033
$294.0K
Market Conditions
NOI Build-Up for 1,802 SF
Gross rent
$40.0K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$37.8K $20.98/SF
− OpEx
−$11.3K −$6.29/SF
NOI
$26.5K $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%
$529,260
Cap Rate 7%
$378,043
Cap Rate 9%
$294,033
Alternative Uses
Best Use
Multifamily LT 5
$378.0K
$330.8K – $441.1K
NOI $26,463 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$330.9K
$289.5K – $386.0K
NOI $23,162 @ 7.0% cap · market cap 4.31%
Theoretical Best
Specialty Retail
$489.3K
$428.2K – $570.9K
NOI $34,252 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Recent building and site improvements complement a four-unit residential income property near shopping and restaurants.
Where is this quadplex located?
The property is located at 638 W 74th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $538,000.
What are key features of this property?
This property features: Four‑unit quadplex with two‑story design; Each unit offers 1 bedroom and 1 bathroom; Roof replaced and interior painted within the last year
