Looking into the Anchorage Market

[Account Closed]

Hi,

I am looking at potentially getting into some multifamily investing with a friend that lives up in Anchorage. I was wondering if any local investors could share some insight on their opinion of the market there in general and if there are any areas in town you think are great for investing or should stay away from. I was also wondering how much to expect in maintenance on a property up there and a typical vacancy rate to expect when running the numbers on some properties. Also, have all the earthquakes up there caused issues with properties or have they held up pretty well?

[Cam Jimmy]

Most properties have held up well after the earthquake. The area called "sandlake" has a neighborhood with about 14 houses that sank 1-12 inches, so I'd stay away from that area. Also stay away from Mountain View, and Fairview as they probably have the most crime than any other part. Some realtors/people like to call Mountain view "eastside", which is totally incorrect so watch out for that. East Anchorage does have some "ghetto" areas too, like  Muldoon road by the highway,  Pine street area, and bragaw st. area. I grew up on the eastside, so I know all about it. I prefer to invest in eastside though, because of its proximity to our Joint Air Force and Army Base (called JBER), The Chester Creek Trail, and our proximity to Tikahtnu Commons Shopping Center. Anyway, Good luck to you guys!