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Village West Apartments 3806 Indiana St 27 Unit Apartment Building $3,995,000 ($147,963/Unit) 7.83% Cap Rate Anchorage, AK 99503
Investment Highlights
- Townhouse Style Units w/ Washers & Dryers!
- 5 Minutes from the Airport & Downtown!
- 100% Occupied with Credit-Qualifying Tenants
Executive Summary
27 Townhouse Style Units in Midtown! Beautiful property, minutes from the airport All units 2bed/1.5bath Townhomes w/ WDs, dining area, sliding glass doors and porches. Parking posts /w plugins. Large owner's storage shed w/ electric, gas & water (ADU potential!). Exterior storage units most tenants. Newer roofs, asphalt shingle. Many units updated, some fully remodeled. Well cared for property with amenities tenants love.
100% occupied, professionally managed! Current rents $42,825, 2026 renewals scheduled $44,730.
Units are roughly 844/sqft each. Parking lot just restriped. Electric is separately metered/ tenants pay. Property has a wood fence around nearly the full parameter. 4 boilers, located in separate exterior sheds. All serviced / maintained. 2 of the buildings painted last year.
100% occupied, professionally managed! Current rents $42,825, 2026 renewals scheduled $44,730.
Units are roughly 844/sqft each. Parking lot just restriped. Electric is separately metered/ tenants pay. Property has a wood fence around nearly the full parameter. 4 boilers, located in separate exterior sheds. All serviced / maintained. 2 of the buildings painted last year.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$536,760
|
$22.09
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$21,470
|
$0.88
|
| Effective Gross Income |
$515,290
|
$21.20
|
| Taxes |
$38,586
|
$1.59
|
| Operating Expenses |
$163,933
|
$6.75
|
| Total Expenses |
$202,519
|
$8.33
|
| Net Operating Income |
$312,771
|
$12.87
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $536,760 |
| Annual Per SF | $22.09 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $21,470 |
| Annual Per SF | $0.88 |
| Effective Gross Income | |
|---|---|
| Annual | $515,290 |
| Annual Per SF | $21.20 |
| Taxes | |
|---|---|
| Annual | $38,586 |
| Annual Per SF | $1.59 |
| Operating Expenses | |
|---|---|
| Annual | $163,933 |
| Annual Per SF | $6.75 |
| Total Expenses | |
|---|---|
| Annual | $202,519 |
| Annual Per SF | $8.33 |
| Net Operating Income | |
|---|---|
| Annual | $312,771 |
| Annual Per SF | $12.87 |
Property Facts
| Price | $3,995,000 | Apartment Style | Townhome |
| Price Per Unit | $147,963 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.98 AC |
| Cap Rate | 7.83% | Building Size | 24,304 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 27 | Year Built/Renovated | 1983/2022 |
| Property Type | Multifamily | Parking Ratio | 1.7/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R2M - 211 - Apartment - Garden 1-3 Levels | ||
| Price | $3,995,000 |
| Price Per Unit | $147,963 |
| Sale Type | Investment |
| Cap Rate | 7.83% |
| Sale Condition | 1031 Exchange |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 1.98 AC |
| Building Size | 24,304 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1983/2022 |
| Parking Ratio | 1.7/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R2M - 211 - Apartment - Garden 1-3 Levels |
Amenities
Unit Amenities
- Dishwasher
- Storage Space
- Washer/Dryer
- Heating
- Refrigerator
- Oven
- Range
- Tub/Shower
- Deck
- Handrails
- Pantry
- Patio
- Porch
- Window Coverings
- Workshop
Site Amenities
- 24 Hour Access
- Picnic Area
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 27 | $1,825 | 22,788 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Total Assessment | $2,001,100 (2025) | |
| Land Assessment | $398,200 (2025) | Annual Taxes | $38,586 ($1.59/SF) |
| Improvements Assessment | $1,602,900 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$398,200 (2025)
Improvements Assessment
$1,602,900 (2025)
Total Assessment
$2,001,100 (2025)
Annual Taxes
$38,586 ($1.59/SF)
Tax Year
2026
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Village West Apartments | 3806 Indiana St
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