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Rare opportunity to acquire a 13-unit multi-family property in Anchorage's highly desirable Turnagain neighborhood"”a location known for its convenience, lifestyle appeal, and access to outdoor recreation. This income-producing asset features stable cash flow, strong occupancy history, and significant value-add potential in one of the city's most sought-after rental markets. The property comprises nine studio units and four two-bedroom units, thoughtfully designed to meet high tenant demand. Currently 92% occupied, with several long-term tenants in place, the property generates approximately a 7% cap rate, with additional upside through unit updates and rental increases. Utilities are landlord-paid.Amenities include two laundry rooms, ample parking, a spacious yard, and proximity to the Turnagain greenbelt and Fish Creek trail system. This asset offers both immediate cash flow and long-term appreciation potential. With targeted upgrades, investors can realize rental growth and increased NOI. Ideal for seasoned multi-family investors or those entering the Anchorage market. Be sure to check out the list of property upgrades!
Property Type(s):
Multi Family
| Last Updated | 9/29/2025 | Year Built | 1962 |
|---|---|---|---|
| Community | 1A - Anchorage Municipality |
SCHOOLS
| Elementary School | Northwood |
|---|---|
| Jr. High School | Romig |
| High School | West Anchorage |
Additional Details
| AREA | 1A - Anchorage Municipality |
|---|---|
| CONSTRUCTION | Frame, Other, Wood Siding |
| HEAT | Baseboard, Natural Gas |
| LOT | 0.73 acre(s) |
| LOT DIMENSIONS | 31658.0 |
| PARKING | None |
| SEWER | Public Sewer |
| WATER | Public |
| ZONING | R2M - Multi Family Residential |
Listing Office: PTP Management, Inc.
The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than Petersburg Properties LLC are marked with either the listing brokerage’s logo or the AK MLS logo and information about them includes the name of the listing brokerage
All information is deemed reliable but is not guaranteed and should be independently verified for accuracy.
Copyright 2025 Alaska Multiple Listing Service, Inc. All rights reserved
This IDX solution is (c) Diverse Solutions 2025.
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