In this study, the anionic emulsified asphalt was prepared by dispersing asphalt particles evenly into water with combination of anionic and nonionic surfactants. Effects of NaOH and $CaCl_2$ on the phase stability of the emulsified asphalt were also investigated through zeta potential value and rheology behavior; the emulsified asphalt added with NaOH and $CaCl_2$ showed higher zeta potential value than that the asphalt with addition of only anionic and nonionic surfactants. In addition, with regard to shear thinning behaviors, it was found that pH of the emulsified anionic asphalt and $Ca^{2+}$, counter ion, affected the phase stability. SBR (styrene-butadiene-rubber) latex, EPD (water dispersed Epoxy), PU (polyurethane) and RI-10S, SBS (styrene-butadiene-styrene)-based property improvement additive, were used and studied to enhance the adhesion properties with the aggregates. RI-10S, however, was found to be only compatible with the anionic emulsified asphalt; the coating rate, adhesion and compression strength were increased with the RI-10S content.