Four-Unit Apartment Building with
7301 Woburn Circle, Anchorage, AK 99502
For Sale
$789,000
The property offers a mix of one-, two-, and three-bedroom residences with shared hot-water service and separate electric meters.
Property Size3,859 SF
Days on Market34
Property Features for 7301 Woburn Circle
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Parking per Unit
Individually Metered Utilities
Amenities
carports
Building Details
Building Size
Year Built
Listing Agency:
Herrington and Company, LLC
Listed By:
Savanna Wiita · License AK #124031
(907) 229-0413
Source:
Keiradrehergroup.kw
Added: Oct 8
Changed: Nov 8
Last Checked: Nov 8 at 2:28AM
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 Herrington and Company, LLC
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Investment Insights
Based on property information with market context.
This four-unit apartment property includes two two-bedroom residences, one three-bedroom residence, and one one-bedroom residence. Carport parking serves each unit. A shared gas-fired hot-water boiler supplies the building, while individual electric meters provide separate unit-level measurement. The property was built in 1983.
Kincaid Park and the Coastal Trail are nearby. The property also offers access to the airport, shopping, dining, and entertainment in the surrounding area.
Kincaid Park and the Coastal Trail are nearby. The property also offers access to the airport, shopping, dining, and entertainment in the surrounding area.
Key Highlights
- Four units: two 2‑bedroom, one 3‑bedroom, and one 1‑bedroom
- Carport parking provided for each residence
- Common gas hot‑water boiler and individual electric meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,671
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,420
$1.1M
Cap Rate 7%
$809,586
$809.6K
Cap Rate 9%
$629,678
$629.7K
Market Conditions
NOI Build-Up for 3,859 SF
Gross rent
$85.7K $22.20/SF
− Vacancy
−$4.7K −$1.22/SF
EGI
$81.0K $20.98/SF
− OpEx
−$24.3K −$6.29/SF
NOI
$56.7K $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%
$1,133,420
Cap Rate 7%
$809,586
Cap Rate 9%
$629,678
Alternative Uses
Best Use
Multifamily LT 5
$809.6K
$708.4K – $944.5K
NOI $56,671 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$708.6K
$620.0K – $826.7K
NOI $49,602 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$1.05M
$916.9K – $1.22M
NOI $73,352 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Demographics for 99502, AK
24,183
Population
9,931
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
96%
High-School Grad
17.6 sq mi
ZIP Area
1,374
Density / Sq Mi
$118,494
Median Household Income
$56,190
Median Earnings
$1,661
Median Rent
$408,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - The property offers a mix of one-, two-, and three-bedroom residences with shared hot-water service and separate electric meters.
Where is this quadplex located?
The property is located at 7301 Woburn Circle Anchorage, AK.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Four units: two 2‑bedroom, one 3‑bedroom, and one 1‑bedroom; Carport parking provided for each residence; Common gas hot‑water boiler and individual electric meters
