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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Garden apartment buildings
21351 Old Glenn Hwy, Chugiak, AK 99567-5629
Trust Owned
17-yr Hold
Free & Clear
Property ID
US02-0091174
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1983
Construction
WOOD FRAME
Total area
13,041 SF
Lot
2.62 ac (114,127 SF)
Zoning code
CE R5
APN
051-062-19-000
UPID
US02-0091174
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$828k
Blend (final)
Blend
$665k
Owner & transaction history
Wehr 2008 Family Trust · 17 yrs held
Wehr 2008 Family Trust
since 2009
3 recorded transactions
Zoning & alternative use
CE R5 · Chugiak, AK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.1M
+12.6%
Warehouse, storage
$1.0M
+6.5%
Office building
$1.0M
+2.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chugiak submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chugiak submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$980,000
Current use
INDUSTRIAL (GENERAL)
$1,105,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,045,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$1,010,000
Change: +3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$980,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$960,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$665k
Range $599k – $732k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$51 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$18,279
Tax year 2023
Assessed value
$1,220,200
Assessed 2023
Previous assessed
$1,220,200
+0.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$133,100
Assessed improvement
$1,087,100
Land market value
$133,100
Improvement market value
$1,087,100
Total market value
$1,220,200
Applied tax rate
22.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1983
Construction
WOOD FRAME
Heating
HOT WATER
Cooling
NONE
Stories
3
Units
13
Total area
13,041 SF
Lot
2.62 ac (114,127 SF)
Zoning code
CE R5
APN
051-062-19-000
UPID
US02-0091174
Jurisdiction
ANCHORAGE
Zoning & alternative use
CE R5 · Chugiak, AK
Zoning CE R5 · permitted uses
CE R5 · Chugiak, AK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chugiak. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$980,000
INDUSTRIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$980,000
MEDICAL BUILDING
Est. value
$960,000
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Construction
WOOD FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
13
Lot
2.62 ac
Current owner
From public records · entity-resolved
Wehr 2008 Family Trust
Trust
Free & Clear · 17 yrs held
Mailing address
PO BOX 670607, CHUGIAK, AK 99567-0607
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2020
—
Larry E Wehr
—
Deed
related
$425,000 · First National Bank Alaska
Jan 15, 2009
—
Wehr 2008 Family Trust
Wehr Larry E & C M Trust
Quit Claim Deed
related
—
—
—
Wehr 2008 Family Trust
—
Loan Modification
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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