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Listing 3 out of 5
$449,900 For Sale

202 & 208 N Park Street
Anchorage, AK 99504

7 units | Multi Family Home
12632 sq ft - MLS# 18-6278
Property Photo
1/7

Description

Price reduced! Fantastic opportunity for a 100% occupied great cash flow property with stable, mature, long term tenants. Priced below muni appraisal! All new roofs and 2 units remodeled in 2015. Property is a 5 unit building with huge garage, a duplex and a spare lot listed as 1 property. 7 units total. Great income at about $80K/year! This is a great opportunity for an investor to get into a property that cash flows very well, with gross rents of $6470/month, $77 640/year. Rents are low and have room for increases. Property has 1coin op washer and 1 coin op dryer, approx $2000/year Fiveplex and a Duplex that share a driveway and a boiler, property all sold as one and listed as one property by muni. Was previously listed as 1 big lot with Fiveplex on it and one small lot with duplex on it plus an empty lot. This allowed us a lower property tax bill. Brand new roof on all buildings and structural repairs in 2015. Complete remodel of 2 bdr in 2015, flooring, kitchen, bathroom. Partial remodel of a 1 bdr in 2014, flooring, bathroom. Fencing added in 2013. Roof insulation added in 2010. 1 oven replaced in 4 bdr in 2011. 2 fridges and 1 oven replaced in 2018 Small miscellaneous repairs completed as needed. Windows and trim paint 2017. The 5 not remodeled units are dated but have not had any tenant turnover as long as we have owned property. All of our tenants are stable,mature adults that have expressed a desire to stay there "forever". 2 tenants have most of their rents paid by AHFC direct deposit. Duplex is 1 x 1 bdr , 1 x 2 bdr and coin op washer/dryer and furnace. Fiveplex is 4 x 1bdr and 1 x 4 bdr ( former owners unit) with a large garage/workshop attached to 4 bdr. Rents for the 1 bdrs are $800, $740, $790, $790, $775 2 bdr is $980 4 bdr and garage is $1595 Utilities are included in rent and there is room for potential rent increases, individual metering and other such income increasing options. We would love to keep this property but our parents are at advanced ages that are requiring more of our time and travel. We do not wish to be absentee landlords nor do we want to pay for property management. We have priced the property below muni appraisal hoping for a quick sale. Do not disturb our great tenants. Serious, qualified or cash buyers only.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • County/Area: 1A - Anchorage Municipality
  • Zip Code: 99504
  • Year Built: 1971
  • Elementary School: William Tyson
  • Middle School: Clark
  • High School: East Anchorage
  • Sq.Ft.: 6,104 sq ft
  • Units: 7 units
  • Bedrooms: 11
  • Full Baths: 8
  • Garage: Attached, 2-Car
  • Lot Size: 12632 sq ft
  • Listing Office: Sun Properties, Llc
  • Baths: 8 baths
  • View: Mountains
  • Area: 50 - Post Rd - Glenn Hwy
  • Access Type: Paved
  • Bldgs-Ttl #: 2
  • Construction Status: Existing Structure
  • Construction Type: Wood Frame
  • Exp-Annual: 7202
  • Exp-Insurance/Yr Avg: 3264
  • Exterior Finish: Vinyl
  • Features-MultiFamily: Laundry Facility, Paved Driveway, Smoke Detector(s)
  • Foundation Type: Slab
  • Fuel Type: Common Electric, Comn Metered Nat Gas
  • Heat Type: Baseboard
  • Income-Gross Annual: 79640
  • Income-Misc/Mo: 160
  • Income-Rent Mo Total: 6470
  • Multi-Family Type: 5+ Units, Apartment Style
  • Prkg Spcs: 10
  • Region: 1 - Southcentral Alaska Region
  • Roof Type: Asphalt/Comp Shingle
  • SF-Lot: 12500
  • Sewer-Type: Public Sewer
  • Topography: Level
  • Unit #1: Bath - Full: 1
  • Unit #1: Bedroom: 1
  • Unit #2: Bath - Full: 1
  • Unit #2: Bedroom: 1
  • Unit #3: Bath - Full: 1
  • Unit #3: Bedroom: 1
  • Unit #4: Bath - Full: 1
  • Unit #4: Bedroom: 1
  • Unit #5: Bath - Full: 1
  • Unit #5: Bath-Three Qtr: 1
  • Unit #5: Bedroom: 4
  • Unit #5: Garage: 2
  • Unit #6: Bath - Full: 1
  • Unit #6: Bedroom: 1
  • Unit #7: Bath - Full: 1
  • Unit #7: Bedroom: 2
  • Units- # of 2 BR: 1
  • Units- # of 4+ BR: 1
  • Units-# of 1 BR: 5
  • Water-Type: Public
  • Zoning: R4 - Multiple Family Residential
Courtesy of Sun Properties, LLC

                                                                           

 

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