5
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Listed by Jerry Lymburner • POWERED BY LYMBURNER REALTY
$1,950,000
Est. payment /mo
10 Beds
10 Baths
6,730 SqFt
New
NHN 19TH AVENUE Fairbanks, AK 99701
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Key Details
Property Type Multi-Family
Sub Type OTHER/SEE REMARKS
Listing Status Active
Purchase Type For Sale
Square Footage 6,730 sqft
Price per Sqft $289
MLS Listing ID 160579
Bedrooms 10
Construction Status 2x6
Year Built 2026
Lot Size 0.610 Acres
Acres 0.61
Property Sub-Type OTHER/SEE REMARKS
Property Description
PROPOSED 10-UNIT APARTMENT DEVELOPMENT | BUILD-TO-SUIT MULTIFAMILY INVESTMENT OPPORTUNITY. Take advantage of the boroughs 10 year Tax exemption with this build!* Bring your multifamily investment vision to life with this proposed 10-unit apartment development. Positioned on three city lots in central Fairbanks, this proposed apartment complex presents a rare opportunity to develop a modern rental community in one of Fairbanks' strongest multifamily markets. Designed to meet the continued demand for quality housing, this project offers investors the ability to partner with an established Alaska builder to create a long-term income-producing asset. Location matters, and this project delivers. Situated near Fairbanks Memorial Hospital, Fort Wainwright, schools, parks, shopping, and downtown Fairbanks, the property is well-positioned to attract healthcare professionals, military personnel, government employees, and other residents seeking convenient access to work, recreation, and everyday amenities. The combination of nearby employment centers and essential services helps support year-round rental demand and long-term investment potential. The proposed three-story apartment building features ten spacious 1 bedroom, 1 bath units. Planned amenities include modern floor plans, in-unit laundry, dedicated parking, bike storage, and attractive finishes designed to appeal to today's renters while supporting tenant retention and occupancy performance. Unlike a traditional new construction offering, construction has not yet commenced. This creates a unique opportunity for investors and developers to customize the project, modify specifications, and tailor the development to their investment strategy before construction begins. Whether your objective is to expand a multifamily portfolio, complete a 1031 exchange, develop workforce housing, or create a new apartment community in Fairbanks, this project offers a level of flexibility rarely found in today's market. With strong rental demand, a highly desirable central Fairbanks location, and the ability to work directly with an experienced Alaska multifamily builder, this is an exceptional opportunity to take a proven apartment development concept from plan to reality. Annual gross rents are projected at $198k/Year based off local rental data. The 19th Avenue location is being utilized to showcase the development concept and potential. The proposed apartment design may also be adapted to another suitable development site based on a buyer's goals, location preferences, and project requirements. Larger projects are available, inquire for details. See Fairbanks North Star Borough for Tax exemption details.
Location
State AK
Area South East Fairbanks
Zoning Multiple-Family Residential District
Interior
Heating Radiant Floor
Exterior
Exterior Feature Cable TV, Deck/Patio, High Speed Internet, Telephone Service
Parking Features None
View City
Roof Type Shingle
Total Parking Spaces 20
Building
Foundation Poured Concrete
Water Public
Construction Status 2x6
Schools
Elementary Schools Hunter
Middle Schools Ryan
High Schools Lathrop