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545 E 11th Ave 17 Unit Apartment Building $2,100,000 ($123,529/Unit) 7.25% Cap Rate Anchorage, AK 99501
INVESTMENT HIGHLIGHTS
- Units built to condo specs! Secured entry, carports & storage
- Credit-worthy tenants and many improvements!
- Quiet, dead-end road, blocks away from Park Strip
EXECUTIVE SUMMARY
Downtown 15plex! New interior hallway remodel. Excellent historical cash-flow. Only a few blocks from the Park Strip on a quiet, dead-end road. All units have carports/plugins & secured/heated storage lockers. Separate electric meters. Upper units have private balconies. 100% occupied with well-qualified tenants! New, central fire alarm installed in 2023. 14x1bed/1bath & 1x3bed/1bath.
The 1bedroom units are large and have an extra large closet which is a selling feature! Additional room next to laundry that has a bathroom and old sauna. Potential to add an ADU! Buyer to verify. Currently, owner pays for a master GCI internet package and charges back to tenants. Additionally, owner pays for the first $75 for each electric meter.
Boiler system replaced in 2018. Each apartment has an individual electric water heater in the large closet in the bedroom. Majority of water heaters are new within 10 years, all have new Bluetooth sensors. ABC installed seamless gutters in 2022. Roof age unknown. Many recent improvements, including several unit remodels. Please allow 48 hours to show, Mon-Fri.
The 1bedroom units are large and have an extra large closet which is a selling feature! Additional room next to laundry that has a bathroom and old sauna. Potential to add an ADU! Buyer to verify. Currently, owner pays for a master GCI internet package and charges back to tenants. Additionally, owner pays for the first $75 for each electric meter.
Boiler system replaced in 2018. Each apartment has an individual electric water heater in the large closet in the bedroom. Majority of water heaters are new within 10 years, all have new Bluetooth sensors. ABC installed seamless gutters in 2022. Roof age unknown. Many recent improvements, including several unit remodels. Please allow 48 hours to show, Mon-Fri.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$257,160
|
$17.14
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$12,858
|
$0.86
|
| Effective Gross Income |
$244,302
|
$16.29
|
| Taxes |
$20,266
|
$1.35
|
| Operating Expenses |
$74,073
|
$4.94
|
| Total Expenses |
$94,339
|
$6.29
|
| Net Operating Income |
$149,963
|
$10.00
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $257,160 |
| Annual Per SF | $17.14 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $12,858 |
| Annual Per SF | $0.86 |
| Effective Gross Income | |
|---|---|
| Annual | $244,302 |
| Annual Per SF | $16.29 |
| Taxes | |
|---|---|
| Annual | $20,266 |
| Annual Per SF | $1.35 |
| Operating Expenses | |
|---|---|
| Annual | $74,073 |
| Annual Per SF | $4.94 |
| Total Expenses | |
|---|---|
| Annual | $94,339 |
| Annual Per SF | $6.29 |
| Net Operating Income | |
|---|---|
| Annual | $149,963 |
| Annual Per SF | $10.00 |
PROPERTY FACTS
| Price | $2,100,000 | Building Class | C |
| Price Per Unit | $123,529 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 15,000 SF |
| Cap Rate | 7.25% | No. Stories | 2 |
| No. Units | 17 | Year Built/Renovated | 1977/2022 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R4 - R4 - high density | ||
| Price | $2,100,000 |
| Price Per Unit | $123,529 |
| Sale Type | Investment |
| Cap Rate | 7.25% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 15,000 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2022 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 - R4 - high density |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Balcony
- Dishwasher
- Storage Space
- Refrigerator
- Range
- Walk-In Closets
- Deck
- Window Coverings
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 662 |
| 3+1 | 3 | - | 878 |
1 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 00213355000 | Total Assessment | $1,283,500 (2025) |
| Land Assessment | $133,200 (2025) | Annual Taxes | $20,266 ($1.35/SF) |
| Improvements Assessment | $1,150,300 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
00213355000
Land Assessment
$133,200 (2025)
Improvements Assessment
$1,150,300 (2025)
Total Assessment
$1,283,500 (2025)
Annual Taxes
$20,266 ($1.35/SF)
Tax Year
2024
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545 E 11th Ave
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