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Tall Timber Apartments 2204 W Northern Lights Blvd 36 Unit Apartment Building $3,425,000 ($95,139/Unit) 8% Cap Rate Anchorage, AK 99517
Investment Highlights
- Excellent location in West Anchorage - Near the Airport, Shops and Downtown
- Room to improve the asset & cashflow
- High demand amenities - 36 units w/ carports, plugins & storage
Executive Summary
Incredible investment opportunity! 36plex for sale in West Anchorage. Large, concrete building with many improvements! Backs onto Fish Creek, walking distance to shops/trails, and minutes from the airport. Professionally managed. Each unit has a carport space & plugin and storage unit. Large laundry room. Many units updated, and room to increase rents. 8 units back directly onto Fish Creek and overlook La Honda Park. Large office & maintenance shed w/ electric & heat next to carports. Main doors to upper units are secured, double entry key pads. Most units have had refreshes (floors, bath fans & vanities) and others with new cabinets, fixtures and counters! Storage units are next to laundry area, currently unused. Alaska Roof Restorations added a Silicone Layer to the main roof in 2021. Mechanical systems consists of 3 boilers and 2 sidearms. Seller replaced 1 boiler in 2023. Sage Mechanical serviced in March 2026. Accel Fire Service maintains alarm system and sprinklers on lower level. Building is on a master key system.
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,425,000 | Building Class | C |
| Price Per Unit | $95,139 | Lot Size | 0.95 AC |
| Sale Type | Investment | Building Size | 22,676 SF |
| Cap Rate | 8% | Average Occupancy | 98% |
| No. Units | 36 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1961/2021 |
| Property Subtype | Apartment | Parking Ratio | 2.03/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3 - Woodland Park L51A | ||
| Price | $3,425,000 |
| Price Per Unit | $95,139 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 22,676 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built/Renovated | 1961/2021 |
| Parking Ratio | 2.03/1,000 SF |
| Zoning | R3 - Woodland Park L51A |
Amenities
Unit Amenities
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Picnic Area
- Pet Play Area
- Walking/Biking Trails
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $1,100 | 669 |
| 2+1 | 18 | $1,225 | 878 |
1 1
Walk Score®
Very Walkable (71)
Property Taxes
| Parcel Number | 01002112000 | Total Assessment | $2,021,100 |
| Land Assessment | $243,500 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,777,600 | Tax Year | 2025 |
Property Taxes
Parcel Number
01002112000
Land Assessment
$243,500
Improvements Assessment
$1,777,600
Total Assessment
$2,021,100
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Videos
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Photos
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Buyers Real Estate
Tall Timber Apartments | 2204 W Northern Lights Blvd
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