NOT LISTED FOR SALE
24 Beds
12 Baths
9,720 Sq Ft
0.31 Acres

Last Sold October 30, 2024

14 Days on Market

Highlights

  • Peek-A-Boo Views
  • Baseboard Heating
  • 4-minute walk to Arctic Benson Park
  • West High School Rated A
  • Washer and Dryer

About This Home

As of October 2024

Outstanding income property with open sizeable 2 beds Close to all of the spots tenants desire; chic restaurants, bars & iconic green space within easy walking distance. This 12 plex stands tall above the rest producing strong cash flow w room to increase future rents. Seller has done heavy refreshes on 8 of 12 units.Have your clients marvel at the curb appeal from the new paint job!Since acquiring the property seller has filled with building with reliable tenants. We remodeled 8 of the units and did partial updates on bathrooms and appliances on the others. - 30-40% of the electrical system (per the seller)
- A significant amount of the plumbing throughout the building has been replaced
- Rents have been increased significantly with an additional increase to around $16,000 monthly rental income being easily attainable
- Seller reports spending six figures on strategic value add building upgrades including:
- New exterior paint, exterior deck and railing system, many new windows, the bulk of the building has new front doors, quality resealing of the parking lot (done so that water slopes away from the building), all new exterior electrical, renovated laundry room, storage unit upgrades, Remodeling of 8 units. We did full remodels on most of these. There are few we kept the original cabinets. Cost= Appox $115,000 Exterior Paint. Cost = $30,000 Decking repair and new railings $40,000
All new front windows , some new back windows $40,000
New front doors (not all) $3,000 Paving/Crack sealing/ New lines/ Sloping water away from building. Cost. $14,000
New Exterior electrical. Cost $4500 Painting/Drywall/floor coating for laundry room. Cost $4000
Storage unit repairs Cost $3K Some work is still being completed (for example some of the larger windows needed to be ordered specifically) but all planned work will be completed.

Last Agent to Sell the Property

Buyers Real Estate Team

Buyers Real Estate, LLC License #500091 Listed on: 06/09/2024

Last Buyer's Agent

Keenan Fitzpatrick

Real Broker Alaska License #18901

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1979

Lot Details

  • 0.31

Parking

  • 12 Parking Spaces

Home Design

  • Block Foundation
  • Asphalt Roof

Interior Spaces

  • 9,720 Sq Ft Home
  • Peek-A-Boo Views
  • Washer and Dryer

Bedrooms and Bathrooms

  • 24 Bedrooms
  • 12 Full Bathrooms

Schools

  • Willow Crest Elementary School
  • Romig Middle School
  • West Anchorage High School

Additional Features

  • 0.31 Acre Lot
  • Baseboard Heating

Community Details

  • 12 Units
  • Gross Income $185,000

Property Details

Home Type

Apartment

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.31
  • Co List Office Phone: 907-561-2227
  • Directions: Benson, left on Spenard, building is on left side
  • Carport Y N: No
  • Garage Yn: No
  • New Construction: No
  • Structure Type: Multi Family, Apartment Style, Up and Down
  • Year Built: 1979
  • ResoPropertyType: ResidentialIncome
  • Special Features: None

Interior Features

  • Number Of Buildings: 1
  • Appliances: Washer/Dryer
  • Full Bathrooms: 12
  • Total Bedrooms: 24
  • Living Area: 9720

Exterior Features

  • Lot Features: City Lot
  • Topography: Level
  • View: Mountain(s), Partial
  • View: Yes
  • Waterfront Features: No Access, None
  • Waterfront: No
  • Foundation Details: Block
  • Property Condition: Existing Structure
  • Roof: Asphalt

Garage/Parking

  • Attached Garage: No
  • Parking Features: No Carport, No Garage
  • Total Parking Spaces: 12

Utilities

  • Heating: Baseboard
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Schools

  • Elementary School: Willow Crest
  • High School: West Anchorage
  • Middle Or Junior School: Romig

Lot Info

  • Land Lease Amount Frequency: Monthly
  • Lot Size Sq Ft: 13503.6
  • Mobile Dim Units: Feet
  • Zoning Description: Multiple Family Residential
  • Zoning: R3
  • ResoLotSizeUnits: SquareFeet

Green Features

Multi Family

  • Number Of Units Total: 12
  • Annual Gross Income: 185000

Tax Info

  • Tax Map Number: N/A

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/30/2024 10/30/24 Sold -- -- --
06/25/2024 06/25/24 Pending -- -- --
06/10/2024 06/10/24 For Sale $1,350,000 +54.3% $139 / Sq Ft
07/20/2021 07/20/21 Sold -- -- -- View Prior Sale
12/04/2020 12/04/20 Pending -- -- --
12/22/2018 12/22/18 For Sale $875,000 -- $90 / Sq Ft
Source: Alaska Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Alaska Multiple Listing Service

MLS Number: 24-6872

Alaska Multiple Listing Service