3397 Bellwood Street, Salcha, AK 99714

$3,250,000
Property Type: Multi-Family Bedrooms: 70 Baths: 70 Square Footage: 41,768 Lot Size (sq. ft.): 283,140 Status: Closed
Current Price: $3,250,000 Last Modified: 8/27/2024

Description

70 Unit, 2 bedroom 1 bath, 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. Capital upgrades include three new Buderus Boilers with Tekmar controller (2006), Hot water maker (2009), Fuel-Saving

Supplements: 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,

More Information MLS# 23-12903

Contract Info

Foreclosure/Bank Own: No Price-List: 3250000 Date-Listing: 2021-04-30 Status: Closed

Location, Tax and Legal

Region: 3 - Interior & North Alaska Regions - All Borough/Census Area: 3C - Fairbanks North Star Borough Grid # (Muni Anch): N/A Tax Map #-Mat-Su: N/A Legal: 2S 3E Tr A1-B1, C-D Taxes (Estimated): 49982 School-Elementary: BTV-Undiscl by LL School-Middle: BTV-Undiscl by LL School-High: BTV-Undiscl by LL

Property Info

Realtor.com Type: Multi-Family Construction Status: Existing Structure Bathrooms Half: 0 Bathrooms Three Quarter: 0 Bathrooms Full: 70 Bathrooms Total: 70 Bldgs-Ttl #: 8 Acres: 6.5 SF-Lot: 283140 Lot Area Source: Other Zoning: GU1 - General Use Garage Spaces: 0 Carport Spaces: 0 Prkg Spcs: 116 Beds: 70 Year Built: 1985 SF-Res: 41768 Number of Units: 70

Directions and Remarks

Directions: Richardson Hwy to L on Hope St, take 2nd L to stay on Hope St, L on Old Rich, 2nd R onto Bellwood St, Cross Railroad Tracks, Complex on the Left.

Multi-Family Type

Apartment Style: 1

Building Info

Units- # of 2 BR: 70

Heating

Baseboard: 1 Other: 1 See Remarks: 1

Foundation Type

Unknown - BTV: 1

Wtrfrnt-Access Near

None: 1

Wtrfrnt-Frontage

None: 1

Sewer-Type

Public Sewer: 1

Sold Info

Date-Pending: 2021-09-20 Date-Closing: 2022-05-03

Location Tax and Legal

Area: 765 - Salcha Street #: 3397 Street Name: Bellwood Arterial: Street Closest USPS Town: Salcha State: AK Zip Code: 99714

Property Features

Multi-Family Type: Apartment Style Foundation Type: Unknown - BTV Heating: Baseboard; Other; See Remarks Sewer-Type: Public Sewer Wtrfrnt-Frontage: None Wtrfrnt-Access Near: None
Listing Office: Non-Member Office
IDX
Last Updated: August - 27 - 2024
The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than the site owner are marked with the AK MLS logo and information about them includes the name of the listing brokerage. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Site contains live data.