Two-Unit Ranch
For Sale
$484,489
Pending
8301 Spruce Street, Anchorage, AK 99507
Multi-Family, Anchorage, AK
Property Size1,976 SF
Lot Size0.21 Acres
Days on Market36
Property Features for 8301 Spruce Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2M - Multi Family Reside
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 5, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Elementary school
Trailside
Middle school
Hanshew
High school
Service
Directions
Lake Otis, east on 84th. North on Spruce st to address on right side.
Subdivision
1A - Anchorage Municipality
Standard status
Pending
APN
0142312000001
Size
1,976 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
Spruce Acres L13
Legal Description
Spruce Acres L13
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
laundry
garage
fenced yard
storage shed
private yard
Building Details
Year built
1976
Number of units
2
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
(907) 646-3600
Listed By:
Brittany N Moses · License #19203
(907) 351-1319
Added: Sep 20
Changed: Oct 24
Last Checked: Oct 25 at 9:06AM
MLS# 26-12194
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 ranch-style duplex contains two private units across 1,976 square feet. The first unit has two bedrooms, one bathroom, laundry, a fenced yard, and a storage shed. The second offers three bedrooms and one bathroom, along with laundry, a garage, its own yard, and a storage shed. The property occupies a 0.21-acre lot in Anchorage.
Built in 1976, the duplex has baseboard heating fueled by natural gas. Public water and public sewer serve the property. Shopping, parks, schools, and trails are nearby.
Built in 1976, the duplex has baseboard heating fueled by natural gas. Public water and public sewer serve the property. Shopping, parks, schools, and trails are nearby.
Key Highlights
- Two private units with a combined 1,976 square feet
- Unit 1: 2 bedrooms, 1 bathroom, laundry, fenced yard, and storage shed
- Unit 2: 3 bedrooms, 1 bathroom, laundry, garage, private yard, and storage shed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,018
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,360
$580.4K
Cap Rate 7%
$414,543
$414.5K
Cap Rate 9%
$322,422
$322.4K
Market Conditions
NOI Build-Up for 1,976 SF
Gross rent
$43.9K $22.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$41.5K $20.98/SF
− OpEx
−$12.4K −$6.29/SF
NOI
$29.0K $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%
$580,360
Cap Rate 7%
$414,543
Cap Rate 9%
$322,422
Alternative Uses
Best Use
Multifamily LT 5
$414.5K
$362.7K – $483.6K
NOI $29,018 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$362.8K
$317.5K – $423.3K
NOI $25,399 @ 7.0% cap · market cap 5.24%
Theoretical Best
Specialty Retail
$536.6K
$469.5K – $626.0K
NOI $37,560 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Demographics for 99507, AK
38,199
Population
14,552
Households
2.6
Avg Household Size
36
Median Age
38%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
808
Density / Sq Mi
$107,347
Median Household Income
$55,197
Median Earnings
$1,546
Median Rent
$371,200
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 - Two separately arranged homes provide private yards, laundry, and distinct storage and parking features.
Where is this duplex located?
The property is located at 8301 Spruce Street Anchorage, AK.
What is the asking price?
The asking price for this property is $484,489.
What are key features of this property?
This property features: Two private units with a combined 1,976 square feet; Unit 1: 2 bedrooms, 1 bathroom, laundry, fenced yard, and storage shed; Unit 2: 3 bedrooms, 1 bathroom, laundry, garage, private yard, and storage shed
