Four-Unit Property Near
For Sale
$575,000
8421 E 3rd Ave, Anchorage, AK 99504
Residential income property with four units and access to Anchorage-area shopping, dining, schools, and commuter routes.
Property Size2,470 SF
Price / SF$232.79
Days on Market17
Property Features for 8421 E 3rd Ave
General Information
Standard status
Active
Size
2,470 SF
Property subtype
Residential Income
Listing Agency:
Real Broker Alaska
(814) 282-3697
Listed By:
Tyler Cobb
(814) 282-3697
Source:
Exprealty
Added: Aug 7
Changed: Aug 21
Last Checked: Aug 23 at 6:20AM
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 four-unit residential income property is located at 8421 E 3rd Ave in Anchorage, Alaska. The property is described as income-producing and is positioned minutes from JBER.
Shopping, dining, schools, and major commuter routes are identified in the surrounding area, providing access to everyday services and regional travel connections.
Shopping, dining, schools, and major commuter routes are identified in the surrounding area, providing access to everyday services and regional travel connections.
Key Highlights
- Four‑unit residential income property
- Located at 8421 E 3rd Ave, Anchorage, AK
- Minutes from JBER
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,273
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$725,460
$725.5K
Cap Rate 7%
$518,186
$518.2K
Cap Rate 9%
$403,033
$403.0K
Market Conditions
NOI Build-Up for 2,470 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.8K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$51.8K $20.98/SF
− OpEx
−$15.5K −$6.29/SF
NOI
$36.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$725,460
Cap Rate 7%
$518,186
Cap Rate 9%
$403,033
Alternative Uses
Best Use
Multifamily LT 5
$518.2K
$453.4K – $604.6K
NOI $36,273 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$453.5K
$396.9K – $529.1K
NOI $31,748 @ 7.0% cap · market cap 5.52%
Theoretical Best
Specialty Retail
$670.7K
$586.9K – $782.5K
NOI $46,950 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with four units and access to Anchorage-area shopping, dining, schools, and commuter routes.
Where is this quadplex located?
The property is located at 8421 E 3rd Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four‑unit residential income property; Located at 8421 E 3rd Ave, Anchorage, AK; Minutes from JBER
