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Listed by Rylieh Bodyfelt • SOMERS SOTHEBY'S
$5,375,000
Est. payment /mo
26,000 SqFt
Active
622 11TH AVENUE 632 11th Ave, 635 & 639 10th Ave Fairbanks, AK 99709
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Key Details
Property Type Commercial
Sub Type OTHER/SEE REMARKS
Listing Status Active
Purchase Type For Sale
Square Footage 26,000 sqft
Price per Sqft $206
Subdivision Ak
MLS Listing ID 161406
Year Built 1972
Lot Size 0.697 Acres
Acres 0.697084
Property Sub-Type OTHER/SEE REMARKS
Property Description
34-Unit Investment Opportunity in the Heart of Fairbanks! Positioned near downtown, this gated and secured multifamily property offers immediate scale, strong income, and an attractive cap rate over 8%. The property features a diverse unit mix designed to appeal to a broad tenant base, including 14 spacious three-bedroom, two-bath units, with the remaining 20 units offering one-bedroom floor plans across five different layouts. Originally constructed in 1972, the property has benefited from significant capital improvements, including a new roof in 2022 and new windows in 2015. Most units feature durable LVP flooring, with carpet on the lower level. The building utilizes steam heat, and each unit includes access to an exterior vehicle plug-in, an essential amenity for Interior Alaska winters. With 34 units, controlled access, established income, an 8.5% cap rate, and major exterior improvements already completed, this is a compelling opportunity for an investor looking to acquire a substantial multifamily asset in the Fairbanks market. Whether expanding an existing portfolio or making a significant entry into Interior Alaska multifamily, this property offers the combination of scale, income, and location that is increasingly difficult to find.
Location
State AK
Area North Fairbanks
Zoning General Commercial District
Direction Cushman Street, Turn Left on Tenth Ave, Property on the left, across from police station.
Exterior
Total Parking Spaces 34