967 Chena Pump Rd Unit 2517 Linda Lane Fairbanks, AK 99709

8 Plex Studio Apartment Building and Single Dry Cabin, with Room to Build 967 Chena Pump is a nine-unit multifamily investment opportunity located in Fairbanks, Alaska. The cabin, built in 1980, and the apartments, built in 1975, offer qualified investors the opportunity to acquire an investment property in a tight rental market. Situated on a sizeable 80,150 square foot lot, the property consists of a charming eight-unit apartment building, a dry cabin with private drive, a second developed driveway, and easily an acre more accessible vacant land along Linda Lane. The property has developed access on all sides, and the lot could be subdivided. Build more cabins, a nice house, or another apartment building. The lot is zoned with very few restrictions. This desirable property is located on the west side of town, approximately three miles from the University of Alaska Fairbanks. It is zoned General Use, has been well maintained, supplied with city water, and also has a well, though it has not been in use since 2017. Tenants pay for electric in the apartments, and the cabin tenant is responsible for all utilities. 7 of the apartment units have a full bath, and the smallest has a stand up shower only. The full utility history and proforma are available. Current rents bring in $5325 monthly. At list price, the cap rate is (9.9%) with management fees and internet for tenants included. The next owner can maximize their return by bringing these below market in-place rents up to the market rate estimated at $5650, and raise your cash on cash return.