6-Unit Apartment
7801 Island Dr, Anchorage, AK 99504
For Sale
$699,000
The building offers a mix of one- and two-bedroom residences, with updates made throughout over the years.
Property Size3,576 SF
Price / SF$195.47
Days on Market60
Property Features for 7801 Island Dr
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
Keller Williams Realty Alaska Group
Listed By:
Barbara Huntley · License AK #11635
(907) 227-5228
Source:
Viewanchoragehouses
Added: Sep 15
Changed: Nov 1
Last Checked: Nov 10 at 11:54AM
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 Keller Williams Realty Alaska Group
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Investment Insights
Based on property information with market context.
At 7801 Island Dr, this six-unit apartment property contains two two-bedroom units and four one-bedroom units. Built in 1972, the 3,576-square-foot building has received updates throughout over the years.
Key Highlights
- Six apartment units: two with 2 bedrooms and four with 1 bedroom
- 3,576‑square‑foot building constructed in 1972
- Updates made throughout the property over the years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,964
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$919,280
$919.3K
Cap Rate 7%
$656,629
$656.6K
Cap Rate 9%
$510,711
$510.7K
Market Conditions
NOI Build-Up for 3,576 SF
Gross rent
$88.0K $24.60/SF
− Vacancy
−$4.4K −$1.23/SF
EGI
$83.6K $23.37/SF
− OpEx
−$37.6K −$10.52/SF
NOI
$46.0K $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%
$919,280
Cap Rate 7%
$656,629
Cap Rate 9%
$510,711
Alternative Uses
Best Use
Apartment 5plus
$656.6K
$574.6K – $766.1K
NOI $45,964 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$971.0K
$849.7K – $1.13M
NOI $67,973 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Demographics for 99504, AK
42,375
Population
17,720
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
91%
High-School Grad
36.8 sq mi
ZIP Area
1,151
Density / Sq Mi
$83,338
Median Household Income
$46,883
Median Earnings
$1,529
Median Rent
$309,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The building offers a mix of one- and two-bedroom residences, with updates made throughout over the years.
Where is this apartment building located?
The property is located at 7801 Island Dr Anchorage, AK.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Six apartment units: two with 2 bedrooms and four with 1 bedroom; 3,576‑square‑foot building constructed in 1972; Updates made throughout the property over the years
