Looking to buy a multi-family, hesitant about the crime-rate in Anchorage proper

[Keila Pritchard]

Hello, 

My wife and I are military and looking to move to Anchorage next. Before we get up there, we know we'd like to buy property in Alaska regardless of where we PCS. I am inclined to buy a multi-family in Eagle River but there are not many available now. I'm really open to finding a property in Anchorage but the crime-rate and keeping tenants. Open to anyone's experience or advice on other places to buy. Excited to jump in with the BP community in Alaska!

[Ethan Ray]

Hey Keila,

I must say, I'm quite envious of military personnel. If only I had known then what I know now about real estate, I would have put that housing stipend to excellent use. Let me give you a snapshot of the different multi-family properties I own here in Anchorage, spread across various parts of the city.

First, we have House 1 in Muldoon. It's a triplex with two long-term tenants and one unit used for Airbnb or Furnishfinder. The property is situated next to a park that provides access to the greenbelt, a central path throughout Anchorage. We do encounter a significant number of homeless individuals who use the pathway, but the only issue we've faced is the occasional drunk person in the park or passing in front of the house. Not a big deal. Our main concern here is if they decide to set up their tents on the property, although we've managed to keep our yards secured and prevent such incidents.

Next up is House 2 near Russian Jack Park. This triplex is located right next to an elementary school. Despite what many Anchorage residents might say about the area, we have experienced great success and minimal issues. The neighborhood may not have a suburban feel due to the presence of many multi-family properties, but it's safe, and we often see families out walking in the evening. There was one incident where a stolen car entered the neighborhood, and the thief was found sleeping in the car. However, none of this had any impact on my property or tenants.

Lastly, we have House 3 near Huffman Shopping Plaza on the south side of Anchorage. If you're looking for an area with minimal crime, long-term tenants, and a suburban feel, this is the place for you. Properties here are pricier, but they offer a significant buffer from inner-city activities. The wildest thing we've encountered in this area was a drunk driver being pulled over.

I completely understand your concerns. When my wife and I were searching for properties, we had similar worries. Anchorage and Alaska, when looked at purely based on statistics, may not seem like the best real estate market. However, I can assure you that there is plenty of success to be found here. I encourage you to pursue a multi-family property. One of the reasons I'm optimistic about Anchorage is that you don't have to compromise neighborhood quality for multi-family housing. The city seems to be more accepting of multi-family housing, allowing for continued rental demand, unlike many large cities in the lower 48 that could benefit from integrating more multi-family properties.

Wishing you the best of luck in your property search!

Best regards,