Property Description

70 Unit Apartment Complex on nearly 6.5 acres with significant capital upgrades. Vacancy Rates are consistently low with a current waiting list for new tenants. Consistently High Cap Rate under the current Ownership and Management. Great investment opportunity priced below July 2011 appraisal of $3.4 million. Capital upgrades include three new Buderus Boilers with Tekmar controller (2006), Hot water maker (2009), Fuel-Saving Coal boiler (2009), Engineered Septic System and leach field (2003), New Well system (2005) with Complex to be connected to North Pole City Water soon, Improved Dryer Ducting (2007), and Exterior Paint (2008), New Class C Septic System recently completed with two leach fields and Water Treatment Facility Building completed (paid for by DOD) with Building to remain on property after connection to North Pole City Water. Staff includes an on-site manager, one maintenance personnel and a cleaner. All units are nicely maintained and the grounds are in superb condition. On-site maintenance shop makes for quick work of any needed repair. The on-site laundry room is clean and tidy and has 5 coin-operated washers and dryers for tenant needs. Rent roll shows outstanding high occupancy rates with minimal, if any, vacancies. Financials and Analysis package available upon request with signed non-disclosure and proof Financial Eligibility to purchase. Great opportunity for adding additional rental units or storage units on the south side of the parcel.

: Hot water baseboard, Outdoor boiler
: Salcha
: Frame
Address Map
North Pole
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Additional Information
General use district - 1

Commercial/industrial For Sale

3397 BELLWOOD STREET, North Pole, Alaska 99705

6.45 Acre
Listing ID #146903
Basic Details
Property Type : Commercial/industrial
SubType : Other/see remarks
Listing Type : For Sale
Listing ID : 146903
Price : $3,250,000
Year Built : 1965
Lot Area : 6.45 Acre
Status : Active
Agent info
Gold Standard Realty
1231 Noble St Fairbanks, AK 99701
Contact Agent